Saskatchewan Wheat Pool Inc.

Saskatchewan Wheat Pool Inc.

April 27, 2007 15:51 ET

Pool Reaches Deal With Grain Services Union

REGINA, SASKATCHEWAN--(CCNMatthews - April 27, 2007) - Saskatchewan Wheat Pool Inc. ("Pool") (TSX:SWP) announced today that it has reached a two-year deal with the Grain Services Union ("GSU") that will provide 700 Pool employees with a salary increase and enhanced health benefits. The Pool and the GSU renewed two collective agreements covering employees with the Company's operations and maintenance services and the Regina-based office services. The agreements were ratified by GSU members and the Company.

"These two agreements demonstrate our commitment to our staff, who are unequivocally our greatest asset. The Pool has a long tradition of being an excellent employer that respects all its employees as they contribute daily to customer service and solution delivery, and support change and new growth opportunities that will successfully position us for the future," said Mayo Schmidt, President and Chief Executive Officer, Saskatchewan Wheat Pool.

The new contracts cover the period from February 1, 2006 to January 31, 2008. Employees under the contracts will receive the following wage increases:

- 3% increase, extending back to February 1, 2006; and

- 3.5% increase, beginning February 1, 2007.

In addition to enhancements to the Pool's extended Health Care Plan, the Pool will also establish a joint committee to improve diversity in the workplace and provide a stable workforce well into the future. Both the Pool and the GSU agreed to withdraw their pension plan proposals from the settlement. The Pool is currently seeking clarification from the courts to resolve an issue concerning the Pool/GSU Pension Plan.

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 value-added businesses and strategic alliances, which allow the Pool to leverage its pivotal position between Prairie farmers and destination customers.

The Pool's common shares are listed on the Toronto Stock Exchange under the symbol SWP and its subscription receipts are listed on the Toronto Stock Exchange under the symbols SWP.R. and SWP.N.

Contact Information

  • Saskatchewan Wheat Pool
    Susan Cline
    Media Contact
    (306) 569-6948