Viterra Inc.

Viterra Inc.

June 06, 2008 13:16 ET

Viterra Inc.: Conciliation Concludes June 10, 2008

REGINA, SASKATCHEWAN--(Marketwire - June 6, 2008) - Conciliation between Viterra (TSX:VT) and the Grain Services Union ("GSU") will conclude on June 10, ending the 60-day conciliation process. Viterra and the GSU have been working with a conciliator to try and reach a mutual agreement on behalf of former AgPro Grain locations in Alberta and Manitoba, Saskatchewan Office and the Maintenance and Operations bargaining units. The GSU has informed the Company that it is conducting meetings at which members will vote to either accept the Company's offer or strike. The meeting dates are as follows:

- Votes were conducted in AgPro Manitoba on June 2 and 3, results have not been released by the GSU.

- Regina Offices: Monday June 9, results are expected to be announced on June 10.

- AgPro Alberta: Monday June 9 - Friday June 13, results from AgPro Manitoba and Alberta are expected June 13.

- Saskatchewan Maintenance and Operations unit: Monday June 9 - Thursday June 19, results are expected on June 20.

"We have laid the necessary groundwork to continue serving our customers in the event of a labour disruption. While the term of the conciliator is coming to a close, we do remain hopeful that an agreement will be reached. Viterra's guiding principles are at the foundation of our relationship with our employees, and that includes a commitment to common terms and conditions of employment and the best pay and benefits the business can reasonably support," said Fran Malecha, Chief Operating Officer of Viterra, adding that it is business as usual at the Company's facilities.

If the Company and GSU fail to reach a mutual agreement, the earliest notification of a strike or lockout is July 2, 2008. The Operations and Maintenance bargaining unit has 573 employees; Regina Offices has 194 employees; and AgPro (MB/AB) has 90 employees.

Viterra Inc. is Canada's leading agri-business, with extensive operations and distribution capabilities across Western Canada, and with operations in the United States and Japan. The new company is diversified into sales and services of crop inputs and equipment, grain handling and marketing, livestock feed, agri-food processing and financial products. These operations are complemented by value-added businesses and strategic alliances, which allow Viterra to leverage its pivotal position between Prairie farmers and destination customers. The Company's common shares are listed on the Toronto Stock Exchange under the symbol VT.

Contact Information

  • Viterra Inc.
    Susan Cline
    Investor Relations and Corporate Affairs
    (306) 569-6948