KITCHENER, ONTARIO--(Marketwired - Nov. 3, 2016) - GROWMARK and Suncor recently reached an agreement in which GROWMARK will purchase Suncor's 50 per cent interest in UPI. This transaction was completed this week.
"The agreement aligns with GROWMARK's focus on growing our petroleum business in Ontario," said Kevin Carroll, vice president, energy and logistics. "We have had an outstanding partnership with Suncor for the past 20 years, and we are confident this will facilitate the continued success of our energy business in Ontario well into the future," he added.
Suncor and GROWMARK have also entered into long-term supply agreements for GROWMARK's petroleum needs in Ontario.
About UPI:
UPI, Inc., headquartered in Guelph, Ontario, provides energy products including refined fuels, propane, and lubricants throughout Ontario. More information is available at www.upienergylp.com.
About GROWMARK:
GROWMARK is an agricultural co-operative with annual sales of $8.7US billion (FY 2015 data) providing agronomy, energy, facility planning, and logistics products and services, as well as grain marketing and risk management services in more than 40 states and the province of Ontario. GROWMARK owns the FS trademark, which is used by affiliated member co-operatives. More information is available at www.growmark.com.
Contact Information:
Matt Wettersten
Publications and Media Relations Specialist
309-557-6189
mwettersten@growmark.com