RICHARDSON INVESTS $40 MILLION TO ENHANCE WESTERN CANADIAN NETWORK

Winnipeg, Alaska, CANADA


WINNIPEG, Manitoba, June 10, 2013 (GLOBE NEWSWIRE) -- Richardson International Limited is investing $40 million to further enhance its Richardson Pioneer network of grain handling and crop input centres across Western Canada. This investment includes increased grain storage, high-speed fertilizer blenders, a fertilizer distribution centre and the creation of four new crop input locations.

This is the latest in a series of significant investments Richardson has made to expand its operations across the country. On May 1, the company acquired 19 grain elevators, 13 crop input centres, an export terminal in Thunder Bay and Viterra's oat and wheat milling business. In April, Richardson announced it is investing $120 million to expand its grain terminal in Vancouver. Richardson is currently increasing capacity at its canola processing facility in Yorkton by 25 per cent and also recently announced plans to expand its canola processing facility in Lethbridge.

"We are always looking for opportunities to expand and diversify our business," says Curt Vossen, President and CEO of Richardson International. "We are proud to be celebrating a century of growth with the 100th anniversary of Richardson Pioneer in 2013 and we will continue to grow into the future to meet the needs of our customers at home and around the world." 

In 2013, Richardson plans to add 14,000 MT of storage capacity to each of its elevators in Carseland, AB, Crooked River, SK and Shoal Lake, MB, increasing capacity at these facilities between 54 and 68 per cent. Since 2007, Richardson has been focused on increasing storage capacity at its Richardson Pioneer grain facilities and 18 have been completed since that time.

Richardson is also further investing in its crop inputs business. Four former Viterra grain elevators - South Lakes (Stony Mountain) and Red River South (Letellier), MB, Kindersley, SK and Lacombe, AB - will each receive high speed blenders, fertilizer storage and a 6,000-square-foot chemical and seed warehouse to become full-service crop input centres. Richardson is building a 35,000-tonne fertilizer distribution centre at Carlton Crossing (Saskatoon), SK.  The company is also adding six high-speed fertilizer blenders at its Richardson Pioneer locations in Oyen and Magrath, AB, Kamsack, Saskatoon and Shellbrook, SK and Shoal Lake, MB.

"We continue to make investments to better serve our current and future customers. We look to provide efficiencies by having fully integrated grain handling and crop inputs businesses and being a multiple-service provider," says Darwin Sobkow, Executive Vice-President, Agribusiness Operations. "Richardson is proudly Canadian and we are working to be the business partner of choice for Prairie farmers."

Richardson International is Canada's largest agribusiness and recognized as a global leader in agriculture and food processing. Based in Winnipeg, Richardson is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds and a vertically-integrated processor and manufacturer of oats and canola-based products. One of Canada's Best Managed Companies, Richardson has over 2,300 employees across Canada and the U.S.


        

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