Farmer-owned cooperative Landus purchased a 3.4-million-bu grain elevator in Atlantic, IA from Pipeline Foods after the Archer Daniels Midland (ADM) joint venture filed for bankruptcy.
“This well-maintained asset is a win for Landus farmer-owners. The facility will round out our grain and agronomy offerings in this southwestern region of our territory and open the door to improved services for local Atlantic-area farmers,” said Matt Carstens, the CEO and president of Landus, in a recent company release.
The facility is situated at the intersection of major truck and rail route. Grain shipments will be transported out of state with the Iowa Interstate Railroad.
Landus currently leases a separate agronomy facility in Atlantic. The company expects to take possession of the elevator in early November.
Powder & Bulk Solids reported in May 2018 that Landus acquired a grain elevator in Manila, IA from ADM. That facility had a capacity of 2.3 million bushels of grain, including 775,000 bushels of upright storage, 1.5 million bushels in bunker storage, and a receiving capacity of 32,000 bushels/hr at the time of the transaction.