Viterra Inc.

Viterra Inc.

September 16, 2008 17:14 ET

Viterra Inc.: Strike at Regina Office Ends as GSU Members Accept Company's Offer

REGINA, SASKATCHEWAN--(Marketwire - Sept. 16, 2008) - Viterra Inc. (TSX:VT) is pleased to announce that the strike led by the Grain Services Union ("GSU") at the Company's Regina office is over. Earlier today, a majority of Regina Office bargaining unit employees voted to accept the Company's offer, ending the 11-week work stoppage. Employees who participated in the strike will return to work on Monday, September 22.

"We are looking forward to our Regina Office employees returning to work under a new long-term contract that will give our employees market-based compensation and benefits, fairness and flexibility, and labour stability," said Colleen Vancha, Viterra's Vice-President of Investor Relations & Corporate Affairs.

Viterra's five-year offer consists of a 6% compensation payment on signing and annual increases based on performance of 6, 5, 5, and 5%, in addition to an annual incentive program that has the potential to add to an employee's total compensation in the range of 5, 10 and 15% of their pay.

The Saskatchewan Maintenance and Operations bargaining unit employees will vote on the Company's offer over the next 10 days. The labour disruption at the Regina office, which began on July 7, has had no material impact on business.

Viterra Inc. is Canada's leading agri-business, with extensive operations and distribution capabilities across Western Canada, and with operations in the United States, Japan and Singapore. 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