Viterra Inc.

Viterra Inc.
Saskatchewan Wheat Pool Inc.

January 18, 2008 17:15 ET

Viterra Sees Encouraging Signs in Agriculture

REGINA, SASKATCHEWAN--(Marketwire - Jan. 18, 2008) - Viterra (TSX:VT) today confirmed that it has received pre-payments of $250 million to date, approximately $100 million ahead of its expectations. Farmers will often pre-purchase crop inputs such as seed, fertilizer and crop protection products in preparation for spring planting.

"This activity level provides one indication of the optimism in the farm community and the improved financial health of agriculture in Canada", said President and CEO, Mayo Schmidt. "Farmers have begun to secure the product they will need to capitalize on rising commodity prices. We are encouraged with the level of pre-purchases to date and look forward to working with our farm customers to help capture the opportunities in this positive economic environment."

Saskatchewan Wheat Pool Inc., doing business as Viterra, 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 of crop input services 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
    Peter Flengeris
    Media Relations
    Investor Relations and Corporate Affairs
    (306) 569-4810