Richardson International Limited

Richardson International Limited

April 19, 2011 15:53 ET

Richardson Successfully Completes Purchase of North East Terminal

WINNIPEG, MANITOBA--(Marketwire - April 19, 2011) - Richardson International Limited is pleased to announce that it has successfully completed the purchase of North East Terminal grain handling facility in Wadena, Saskatchewan, along with the crop input facilities at Wadena, Kelvington, Foam Lake and Ponass Lake, Saskatchewan.

"We are very excited to add North East Terminal to our Richardson Pioneer network of elevators and crop input facilities across Western Canada," says Darwin Sobkow, Vice-President, Agribusiness Operations for Richardson. "We are pleased that a large majority of shareholders voted in favour of the sale and we look forward to operating these facilities while enhancing services in the near future."

Richardson plans to invest an additional $3 million to upgrade and enhance the facilities with an aim to improve safety, increase efficiencies and better serve customers.

"We will continue to look for opportunities to provide greater service to our customers in northeastern Saskatchewan," says Sobkow. "North East Terminal will support our strong export sales program and complement our new canola processing plant in Yorkton."

Richardson International is Canada's largest, privately owned agribusiness and has served farmers across the country for more than 150 years. Based in Winnipeg, Richardson has over 1,600 employees across Canada and is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds. Richardson is one of Canada's 50 Best Managed Companies and is recognized as a global leader in agriculture and food processing.

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