Viterra Inc.

Viterra Inc.

July 05, 2011 17:03 ET

Viterra Purchases Millionth Bale of Wool

ADELAIDE, AUSTRALIA--(Marketwire - June 30, 2011) - Wool buyer and exporter Viterra (TSX:VT) (ASX:VTA) yesterday celebrated purchasing its millionth bale of wool.

Peter Davey, Viterra's Executive Manager Agri-Products said the millionth bale was a fantastic achievement and a milestone the company planned to build on with further growth and expansion.

"The wool export trading business was established four years ago and since then we have grown to be the country's number one exporter with exports now totalling 250,000 bales a year," Mr Davey said.

"Viterra has built strong relationships with traders, top makers, spinners, weavers and fabric makers in the key export markets China, India and Italy. From these relationships we give our grower customers up to the minute information and market intelligence which allows them to optimise their returns.

"Partnering with growers is driving our growth in the domestic wool market.

"We started in South Australia and Western Australia and are expanding into Victoria.

"Viterra's corporate strength means we can offer excellent trading terms to our wool grower customers including a shearing advance which has been incredibly popular with growers as well as a flat brokerage fee," he said.

Few wool growers are able to track their wool from the time it is sold to the time it is made into a finished garment. However, Viterra will celebrate the purchase of the millionth bale, which occurred in yesterday's sale, and follow the wool as it moves through the production supply chain.

"We are going to follow wool purchased from JW Cook & Son, Tourello, Victoria through the supply chain," Mr Davey said.

"This way, we can highlight the relationships we have with traders and manufacturers and show the customer the path of their wool once they have sold it."

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 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. (TSX:VT) (ASX:VTA)

Contact Information