Twomey Co. sold to Consolidated Grain and Barge, Inc.

Nov 30, 2011 at 07:51 AM CST
Monmouth, Ill. -- MONMOUTH -- It is official. Tuesday Consolidated Grain and Barge, Inc. (CGB) announced the purchase of Twomey Co. by CGB for an undisclosed price. CGB purchased all of the grain and fertilizer assets owned by Twomey which consists of eight locations, including the barge loading terminal near Gladstone. Twomey's total storage capacity is 51 million bushels as well as 18,000 tons of liquid fertilizer capacity. Former Twomey Co. President Craig Twomey said he will be staying on in a managerial position with the new entity which will be known as CGB-Twomey Group. John Twomey and Austin Twomey will also be staying on board. In fact, Craig said he believed all Twomey employees would be retained. "We've got a successful company here they were excited about," he said. "They told us they would hire all of our employees. The employees are one big reason we have been successful." "Twomey Company, headquartered in Smithshire, is a successful third generation grain and fertilizer company that provides CGB with well-maintained assets and a solid customer base in northwestern Illinois," the company said in a release. CGB's headquarters are located in Mandeville, La. They operate over 70 grain facilities, a soybean processing plant, logistics, stevedoring and marine services, wholesale fertilizer marketing, financial services, crop insurance and farmer marketing services. According to a release on the company's website CGB also has a new grain facility four miles east of Dwight, Ill. that has the capacity to load 110 rail cars on a loop track. "It was Important for us to find the right purchaser for our company, one we believed would offer our customers, employees and communities we live in (quality service). We want to be able to serve them with the same quality we have for 66 years now. We are very confident we have done that," Craig said. It was a family decision to sell the company at this time, he said, adding not having the burden of ownership would take away a lot of stress. "The CGB group is a lot like we were, just a bit bigger. They focus on customer service and take care of their employees. They take care of the communities they are in," Craig said. "(People) Won't notice a lot of difference. We will continue to support a lot of community (groups)." A release from CGB contributed to this story. View Original Post

Nov 30, 2011 at 07:51 AM CST

Monmouth, Ill. -- MONMOUTH -- It is official. Tuesday Consolidated Grain and Barge, Inc. (CGB) announced the purchase of Twomey Co. by CGB for an undisclosed price. CGB purchased all of the grain and fertilizer assets owned by Twomey which consists of eight locations, including the barge loading terminal near Gladstone. Twomey's total storage capacity is 51 million bushels as well as 18,000 tons of liquid fertilizer capacity. Former Twomey Co. President Craig Twomey said he will be staying on in a managerial position with the new entity which will be known as CGB-Twomey Group. John Twomey and Austin Twomey will also be staying on board. In fact, Craig said he believed all Twomey employees would be retained. "We've got a successful company here they were excited about," he said. "They told us they would hire all of our employees. The employees are one big reason we have been successful." "Twomey Company, headquartered in Smithshire, is a successful third generation grain and fertilizer company that provides CGB with well-maintained assets and a solid customer base in northwestern Illinois," the company said in a release. CGB's headquarters are located in Mandeville, La. They operate over 70 grain facilities, a soybean processing plant, logistics, stevedoring and marine services, wholesale fertilizer marketing, financial services, crop insurance and farmer marketing services. According to a release on the company's website CGB also has a new grain facility four miles east of Dwight, Ill. that has the capacity to load 110 rail cars on a loop track. "It was Important for us to find the right purchaser for our company, one we believed would offer our customers, employees and communities we live in (quality service). We want to be able to serve them with the same quality we have for 66 years now. We are very confident we have done that," Craig said. It was a family decision to sell the company at this time, he said, adding not having the burden of ownership would take away a lot of stress. "The CGB group is a lot like we were, just a bit bigger. They focus on customer service and take care of their employees. They take care of the communities they are in," Craig said. "(People) Won't notice a lot of difference. We will continue to support a lot of community (groups)." A release from CGB contributed to this story. View Original Post