BRIEF-Ceres Global optimizes number of terminals in its network; provides update on northgate operations

Mon Apr 4, 2016 7:14am EDT
 
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April 4 (Reuters) - Ceres Global Ag Corp

* Ceres global ag optimizes the number of terminals in its network; provides update on northgate operations

* Will put three grain storage elevators out of service as part of a strategic initiative designed to reduce operating costs

* Expects that closures will result in an annual reduction of operating expenses of us$2 to $2.5 million

* Grain elevator closures will take effect with start of 2016 crop season in july

* Duluth storage facility, which has a capacity of 12.2 million bushels, will remain open and be primary focus of operations in area

* Expects its northgate terminal to be fully commissioned by april 30 as scheduled Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)