Viterra Inc.

Viterra Inc.
Saskatchewan Wheat Pool Inc.

November 27, 2007 17:08 ET

Viterra: Pension Agreement Results in Adjournment of Court Date

REGINA, SASKATCHEWAN--(Marketwire - Nov. 27, 2007) - Viterra (TSX:VT) announced today that the Federal Court of Canada has adjourned court proceedings that were previously scheduled for November 28th and 29th regarding the Saskatchewan Wheat Pool/Grain Services Union ("SWP/GSU") pension issue.

Last week, Viterra announced the signing of a settlement agreement with the GSU that would see the Company take full responsibility for funding the solvency deficiency payments, and assume full administration of the Plan.

Following the announcement, the Federal Court agreed to adjourn the proceedings pending ratification of the settlement agreement by employees who are GSU members. The vote is expected to take place in January.

Saskatchewan Wheat Pool Inc., doing business as Viterra, is Canada's leading agri-business, with extensive operations and distribution capabilities across Western Canada, and with operations in the United States and Japan. The new company is diversified into sales of crop input services and equipment, grain handling and marketing, livestock feed, agri-food processing and financial products. These operations are complemented by value-added businesses and strategic alliances, which allow Viterra to leverage its pivotal position between Prairie farmers and destination customers. The Company's common shares are listed on the Toronto Stock Exchange under the symbol VT.

Contact Information

  • Viterra
    Susan Cline, Manager of Communications
    Investor Relations and Corporate Affairs
    (306) 569-6948