Viterra Inc.
TSX : VT
ASX : VTA

Viterra Inc.

August 23, 2011 09:30 ET

Viterra Ports Have Broken All Time Record

ADELAIDE, AUSTRALIA--(Marketwire - Aug. 23, 2011) - Viterra Inc. (TSX:VT) (ASX:VTA)

The record for annual grain exports shipped through South Australia's ports has been broken, with almost 7 million tonnes of grain exported from the State on behalf of 14 exporters since 1 October 2010.

From 1 October last year to 31 July 2011, 6.84 million tonnes has been exported. The previous highest amount for the 1 October to 30 September period was 6.69 million tonnes in 2001/02.

Mayo Schmidt, Viterra's Chief Executive Officer said the Company's strong leadership team in Australia had strengthened operational performance in the region.

"The record shipping result is a positive reflection on Viterra's local management expertise. The efficient operation of Viterra's ports has ensured a highly competitive marketplace for South Australian grain and Viterra is committed to opening up new markets for Australian growers.

"We're expanding our international presence into South East Asia and recently opened a new marketing office in Ho Chi Minh City, Vietnam, to further support the development of new markets and complement our existing international network," he said.

Rob Gordon, Viterra's President South East Asia, said the record shipments had enabled Viterra to clear stocks from sites so the Company was ready to receive another large harvest.

"We are consolidating our carry-in grain into fewer sites to maximise the capacity of the bigger sites and create as many delivery options for growers as possible," he said.

Mr Gordon said the Company expected solid shipping to continue through August and September in the lead up to the 2011/12 harvest.

"With the strong shipping to continue, we estimate the carry-in stocks across the State will be less than two million tonnes, which, considering last year's record harvest, is a great situation for growers," he said.

"Our harvest preparations are well underway and we look forward to working together with growers to ensure they can deliver their grain in a timely and efficient way."

"Since entering Australia, Viterra has invested more than AU$40 million in storage, transport, logistics, people and port terminal infrastructure for the benefit of Australian growers, marketers and international customers."

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, Switzerland, Italy, Ukraine, Germany, India and Vietnam. 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.

Forward Looking Information

This publication contains forward-looking information relating to Viterra's and its subsidiaries' future operational plans and outlook (such statements are usually accompanied by words such as "anticipate", "expect" or similar words). All forward-looking statements reflect Viterra's beliefs and assumptions based on information available at the time the statements were made, are given as of the date of this publication, and are subject to important risks and uncertainties. Readers are cautioned not to place undue reliance on this forward-looking information except as required by law. For additional information on the risk and uncertainties which could cause actual results to differ from anticipated results, please refer to Viterra's Management Discussion and Analysis dated 19 January 2011, which can be found under Viterra's profile on SEDAR at www.sedar.com and other reports filed by Viterra with Canadian and Australian securities regulators.

Contact Information

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

    Viterra Inc.
    Peter Flengeris
    Investor Relations and Corporate Affairs
    (306) 569-4810
    www.viterra.com