Viterra Inc.
TSX : VT
ASX : VTA

Viterra Inc.

August 11, 2011 10:57 ET

Viterra Confident Access Undertaking Will be in Place

ADELAIDE, AUSTRALIA--(Marketwire - Aug. 11, 2011) - Viterra (TSX:VT) (ASX:VTA) acknowledges the Draft Decision published by the Australian Competition and Consumer Commission (ACCC) in connection with the Proposed 2011 Undertaking submitted by Viterra Operations Ltd for the provision of access to its port terminal services to accredited wheat exporters.

The ACCC has not yet made a final decision on whether to accept the Proposed 2011 Undertaking. However, as outlined in its draft decision, the ACCC's preliminary view is that an auction system would address its main areas of concern. The ACCC will now engage in public consultation on its draft decision.

Viterra continues to work with the ACCC to ensure a timely decision is made to accept the Proposed 2011 Undertaking. Viterra has provided a Revised Draft of the Proposed 2011 Undertaking submitted on December 23, 2010, which includes the implementation from mid-2012 of an auction system for managing the allocation of bookings on the shipping stem.

Viterra remains confident it will meet the ACCC's requirements to gain approval for its Revised Draft 2011 Undertaking by September 30, 2011, in order to attain renewal of its bulk wheat export accreditation from Wheat Exports Australia from October 1, 2011.

About Viterra

Viterra provides premium quality ingredients to leading global food manufacturers. Headquartered in Canada, the global agribusiness has extensive operations in Western Canada, North America, Australia and New Zealand. Our growing international presence also extends to offices in Japan, Singapore, China, Vietnam, Switzerland, Italy, Ukraine, Germany and India. Driven by an entrepreneurial spirit, we operate in three distinct businesses: grain handling and marketing, agri-products, and processing. Our expertise, close relationships with producers, and superior logistical assets allow the company to consistently meet the needs of the most discerning end-use customers, helping to fulfill the nutritional needs of people around the world.

Contact Information

  • Viterra Inc. - Canada
    Colleen Vancha
    SVP, Investor Relations and Corporate Affairs
    306-569-4782

    Viterra Inc. - Australia
    Jane McBride
    Communications Manager
    +61 8 8304 1368 or +61 448 910 886
    jane.mcbride@viterra.com