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Tag Archives BMO

General, Markets

BMO regroups ag banking business

Ag-focused national banking team put in place

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Reading Time: 2 minutes With COVID-19 serving to “accelerate” changes in the industry, BMO Bank of Montreal says it has reset its farm banking work under the oversight of an expanded national agriculture and agribusiness banking team. BMO announced the new team approach Oct. 14, describing it as “a national team of agriculture banking specialists — team members with […] Read more
Crops, Machinery

Court approval sought for Morris Industries sale

Rite Way deal the 'highest and best offer received'

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Reading Time: 2 minutes The court overseeing creditor protection for seeding equipment maker Morris Industries is being asked to approve a deal for the company’s sale to another Saskatchewan manufacturer. Calgary consultancy Alvarez and Marsal, the court-appointed monitor for Morris, said Tuesday in its latest report to Court of Queen’s Bench in Saskatoon it recommends approval of a sale […] Read more
Crops, Markets, Weather

Flexibility available for farmers on FCC loan payments

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Reading Time: 2 minutes Farm Credit Canada says it remains willing to work around the various forces majeures standing between its farmer clients and their cash flows this year. The Crown lending agency reiterated Monday it will work with customers “to come up with solutions for their operations on a case-by-case basis” in view of this spring’s weather worries […] Read more
Crops, Fruit/Vegetables, Reuters

Tomato producer Mastronardi said seeking buyer

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Reading Time: < 1 minute Reuters — Mastronardi Produce, an Ontario grower and distributor of hothouse tomatoes, peppers and cucumbers, is exploring a sale it hopes could value it at as much as $900 million, including debt, according to people familiar with the matter. Privately-held Mastronardi has hired Bank of Montreal (BMO) to run an auction process, the people said […] Read more
Livestock, Markets, Poultry/Eggs

FCC, BMO offer breaks on loans to poultry farmers

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Reading Time: 2 minutes Poultry producers up against direct impacts from avian influenza outbreaks at farms in British Columbia’s Fraser Valley may be able to get breaks on their outstanding loans with some lenders. Farm Credit Canada (FCC) and BMO Bank of Montreal both recently announced they may grant affected customers some leeway on payments. FCC said it “will […] Read more

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