ST. PAUL, Minn., March 8, 2016 /PRNewswire/ -- North Dakota, South Dakota and Minnesota member-owners and customers of CHS Inc. (NASDAQ: CHSCP), the nation's leading cooperative and global energy, grains and food company, will soon benefit from completion of projects that enhance the region's refined fuels supply. An upcoming connection between the NuStar pipeline and the Cenex Pipeline near Prosper, N.D., and related investments in additional product storage will strengthen supply to CHS customers.
While the NuStar connection project, slated for completion in spring 2017, is undergoing regulatory approval, it's already anticipated as a positive investment in the area's refined fuels supply infrastructure.
"We know a dependable supply of gasoline and diesel fuel is essential to our Cenex®-branded customers and owners," said Darin Hunhoff, CHS senior vice president, refined fuels. "Over the past five years CHS has invested $90 million in developing a robust supply network across North Dakota, South Dakota, Minnesota and Montana. Our goal is to help our Cenex-branded marketers provide a reliable supply of gasoline and diesel fuel to their customers."
To maximize access to refined fuels produced at the upgraded and expanded CHS Laurel, Mont., and McPherson, Kan., refineries, the company has partnered with NuStar Pipeline on a connection at Council Bluffs, Iowa. Combined with a connection near Prosper N.D., these investments allow a higher volume of product to move efficiently from CHS refineries to existing and new terminal locations and across the CHS distribution network. In addition, the company plans to upgrade portions of its Cenex Pipeline -- which spans from Laurel, Mont., to Fargo, N.D., to expand distribution capacity.
CHS Inc. (www.chsinc.com) is a leading global agribusiness owned by farmers, ranchers and cooperatives across the United States. Diversified in energy, grains and foods, CHS is committed to helping its customers, farmer-owners and other stakeholders grow their businesses through its domestic and global operations. CHS, a Fortune 100 company, supplies energy, crop nutrients, grain marketing services, animal feed, food and food ingredients, along with business solutions including insurance, financial and risk management services. The company operates petroleum refineries/pipelines and manufactures, markets and distributes Cenex® brand refined fuels, lubricants, propane and renewable energy products.
This document and other CHS Inc. publicly available documents contain, and CHS officers and representatives may from time to time make, "forward–looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Report Act of 1995. Forward–looking statements can be identified by words such as "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward–looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on CHS current beliefs, expectations and assumptions regarding the future of its businesses, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward–looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of CHS control. CHS actual results and financial condition may differ materially from those indicated in the forward–looking statements. Therefore, you should not rely on any of these forward–looking statements. Important factors that could cause CHS actual results and financial condition to differ materially from those indicated in the forward–looking statements are discussed or identified in CHS public filings made with the U.S. Securities and Exchange Commission, including in the "Risk Factors" discussion in Item 1A of CHS Annual Report on Form 10–K for the fiscal year ended August 31, 2015. Any forward–looking statements made by CHS in this document are based only on information currently available to CHS and speak only as of the date on which the statement is made. CHS undertakes no obligation to publicly update any forward–looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE CHS Inc.
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