Viterra Inc.

Viterra Inc.

June 10, 2008 16:21 ET

Business as Usual at Viterra's Regina Office

REGINA, SASKATCHEWAN--(Marketwire - June 10, 2008) - Viterra Inc. (TSX:VT) today responded to the results of a strike vote held on June 9, 2008, by members of the Grain Services Union ("GSU") Regina offices bargaining unit.

"Viterra recently proposed to its employees, a five-year offer that would give them a 6 per cent compensation payment on signing and annual increases of 6, 5, 5, and 5 per cent beginning November 1, 2008, with opportunities for further annual incentives in the range of 5, 10 and 15 per cent of their pay. These increases would be based on an individual employee's performance. This offer represented a significant commitment to providing our employees with the best pay and benefits the business can support," said Colleen Vancha, Vice-President of Investor Relations and Corporate Affairs.

The Offices bargaining unit has 194 members with a majority of those eligible office workers rejecting the Company's proposal. A total of 437 employees work at the Regina office.

It is business as usual at the Regina office and the Company is prepared to continue Office functions should some of the Regina office employees strike on July 7, 2008.

"We respect their decision. However, we believe we have a duty to treat everyone in our Company equally. Viterra's guiding principles are at the foundation of our relationship with our employees, and that includes a commitment to common terms and conditions of employment. This means adjustments for some employees so that we can achieve equality for all those who work for Viterra," Ms. Vancha said, adding that the new Company stands by its offer.

The GSU has not released the results for AgPro MB. Votes were taken on June 2 and 3. Voting results for AgPro (MB/AB) unit are expected June 13. Vote results for the GSU's Saskatchewan Maintenance and Operations unit are expected on June 20. Conciliation between Viterra and the Grain Services Union ("GSU") concluded today, ending the 60-day conciliation process.

Viterra Inc. 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 and services of crop inputs 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 Inc.
    Susan Cline
    Investor Relations and Corporate Affairs
    (306) 569-6948