Saskatchewan Wheat Pool Inc.
TSX : SWP

Saskatchewan Wheat Pool Inc.
James Richardson International Limited

James Richardson International Limited

November 14, 2005 08:00 ET

Pool and JRI Continue Joint Venture Operations

REGINA, SASKATCHEWAN--(CCNMatthews - Nov. 14, 2005) - Saskatchewan Wheat Pool Inc. (TSX:SWP) and James Richardson International Limited (JRI) today announced the continued operation of their joint venture in the Port of Vancouver.

The Commissioner of Competition has applied for an order from the federal Competition Tribunal to dissolve the joint venture between the Pool and JRI. The two companies will continue operating the joint venture, named Pacific Gateway Terminals Limited (PGTL), on a status quo basis during the ongoing proceedings.

"Our joint venture is creating operating efficiencies that help everyone from farmers, to rail, to port and end-use customers. Throughout the ongoing proceedings, we will make every effort to find a positive solution to resolve this matter," said Fran Malecha, Senior Vice-President, Grain Group, Saskatchewan Wheat Pool Inc., and PGTL Chair.

The Pool and JRI began operation of PGTL on July 11, 2005. In that time, the joint venture has improved operating efficiencies, productivity, and throughput potential through effective management of the combined space, better rail car utilization and shipping capacity.

"Pacific Gateway Terminals is providing cost-competitive service to customers while adding value in much-needed areas of identity preservation, product traceability, food safety, and railcar and vessel logistics," said Malecha.

The Competition Bureau filed an application with the Competition Tribunal challenging the joint venture under Section 92 of the Competition Act, alleging that the joint venture has or is likely to result in a substantial lessening or prevention of competition in the Port of Vancouver.

Aside from the joint venture at the Port of Vancouver, the Pool and JRI continue to operate separately at all other respective facilities.

Saskatchewan Wheat Pool Inc. is a publicly traded agribusiness headquartered in Regina, Saskatchewan. Anchored by a Prairie-wide grain handling and agri-products marketing network, the Pool channels Prairie production to end-use markets in North America and around the world. These operations are complemented by agri-food processing and strategic alliances, which allow the Pool to leverage its pivotal position between Prairie farmers and destination customers. The Pool's shares are listed on the Toronto Stock Exchange under the symbol SWP.

JRI, a subsidiary of James Richardson & Sons Limited, is Canada's largest privately owned agribusiness. It handles all major grains, oilseeds, and special crops through farm service centres known as JRI in Eastern Canada and Pioneer in Western Canada. JRI is also actively involved in food processing through its subsidiary Canbra Foods, one of Canada's largest integrated oilseed crushing, processing and packaging operations.

Contact Information

  • Saskatchewan Wheat Pool
    Susan Cline
    Media Relations Contact
    (306) 569-6948
    or
    Saskatchewan Wheat Pool
    Colleen Vancha
    Investor Contact
    (306) 569-4782
    Website: www.swp.com