Richardson International Limited

Richardson International Limited

May 26, 2009 10:27 ET

RICHARDSON INVESTS $12 MILLION IN EXPANSION

Attention: Agriculture Editor, Business/Financial Editor, News Editor, Transportation Editor WINNIPEG, MB, MEDIA ADVISORY--(Marketwire - May 26, 2009) - To further increase capacity on the front end of its grain-handling network and to meet the needs of its customers, Richardson International Limited ("Richardson") has committed to invest $12 million to expand four of its Ag Business Centres in Saskatchewan and Manitoba.

"We fully understand the importance of growing and evolving to meet the demands of the customers we serve today as well as to proactively plan for the needs of growers in the future," says Curt Vossen, President of Richardson.

"This new project is the latest in a series of significant investments we have made to expand and improve our operations from grain sourcing through to canola oil processing. It solidifies Richardson's ongoing commitment to develop the most efficient pipeline of grain movement in Western Canada, which is essential in helping us bring agriculture full circle."

The 2009 expansion of the grain storage, rail car capacity and fertilizer service at four western facilities includes:

Brandon, MB - Double current grain storage capacity to 20,500 metric tonnes and expand rail car capacity to accommodate a 112-car unit train.

Swift Current, SK - Increase grain storage capacity to 30,000 metric tonnes and expand rail car capacity to accommodate a 112-car unit train.

Crooked River, SK - Upgrades to rail car capacity to accommodate a 104-car unit train.

Whitewood, SK - Expansion of fertilizer shed to 4,800 metric tonnes (6X current capacity).

Richardson previously invested $40 million in 2008 to expand 16 of its facilities in Alberta, Saskatchewan, Manitoba and Ontario after increasing its grain-handling capacity by 50 per cent through acquisitions made in 2007. Upon completion of the above-listed expansion in 2009, a total of 30 Richardson Ag Business Centres will be capable of loading 100-car unit or more trains.

About Richardson International Limited
Richardson International Limited, a subsidiary of James Richardson & Sons, Limited, is the largest privately-owned Canadian agribusiness. It handles all major grains, oilseeds, and special crops and sells crop inputs and related services through farm service centres throughout Canada. Richardson International Limited, which has 1,400 employees, is also actively involved in food processing through its subsidiary Richardson Oilseed Limited.
/For further information: Jean-Marc Ruest
Vice-President, Corporate Affairs and General Counsel
Telephone: 204.934.5488
Email: Jean-Marc.Ruest@richardson.ca
/ IN: AGRICULTURE, FINANCE

Contact Information

  • Jean-Marc Ruest, Vice-President, Corporate Affairs and General Counsel, Richardson International Limited
    Primary Phone: 204-934-5488
    E-mail: jean-marc.ruest@richardson.ca