Richardson International Limited

Richardson International Limited

June 22, 2010 13:01 ET

RICHARDSON'S NEW CANOLA PROCESSING PLANT

Official Opening in Yorkton, Saskatchewan

Attention: Agriculture Editor, Business/Financial Editor, Food/Beverage Editor, News Editor, World News Editor WINNIPEG, MB, MEDIA ADVISORY--(Marketwire - June 22, 2010) - Richardson International Limited ("Richardson") officially opened its new canola processing facility near Yorkton, Saskatchewan, at a ceremony involving its customers, suppliers, employees and government officials.

The new $170 million state-of-the-art facility will have the capacity to process up to 2,400 metric tonnes of canola per day (840,000 metric tonnes annually), producing 1,000 metric tonnes of fully-refined, food grade canola oil on a daily basis. Combined with Richardson's canola processing and packaging plant in Lethbridge, Alberta, the Yorkton facility will effectively triple the company's total canola oil production capacity.

"The opening of the Yorkton plant underscores our optimism in and ongoing commitment to Canada's food and agriculture industry," said Hartley T. Richardson, Chairman of Richardson International Limited and President & Chief Executive Officer of James Richardson & Sons, Limited. "This investment represents a significant event in our company's history and would not have been possible without the ongoing support of our customers."

Richardson International Limited, Canada's largest, privately-owned agribusiness, has been at the forefront of canola oil production and marketing over the last decade and has witnessed first hand the increased demand for canola oil and canola oil products.

"Interest and demand for canola oil and canola oil products, led largely by consumer demand for healthier foods and cooking oils, has exceeded our projections and expectations," said Richardson President Curt Vossen. "Our new facility will allow us to meet this increased demand and fulfill the growing needs of our existing customers."

While canola oil produced at the plant will be distributed globally, the local community will be the beneficiary of significant positive economic impact resulting from the plant's construction. The plant will lead to the creation of 65 to 70 new technical and professional jobs, along with increased employment opportunities relating to maintenance, repairs, trucking and various other activities relating to the plant's operation.

"The construction of this facility is a good news story for everyone involved in our industry, from producers, to suppliers of goods and services, to our end-use customers," said Vossen. "It truly exemplifies the potential of Western Canada's agriculture industry and demonstrates what can be accomplished by working together."

About Richardson International Limited
Employing over 1,600 people across Canada, Richardson is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds. Through its Ag Business Centres, the Company sells crop inputs and related services to producers throughout Western Canada. With canola processing plants in Lethbridge, Alberta and in Yorkton, Saskatchewan, Richardson is one of North America's largest suppliers of canola oil and meal. In all areas of its business, Richardson continues to provide high-quality products and superior service to its customers.
IN: AGRICULTURE, ECONOMY, FINANCE, INTERNATIONAL, MEDIA

Contact Information