Richardson News Items

RICHARDSON INTERNATIONAL CELEBRATES OFFICIAL OPENING OF NEW CANOLA PROCESSING PLANT IN YORKTON, SK

Thu, 24 Jun 2010 13:45:23 GMT

Yorkton, Saskatchewan, June 22, 2010 – Richardson International Limited (“Richardson”) officially opened its new canola processing facility near Yorkton, Saskatchewan, at a ceremony involving its customers, suppliers, employees and government officials.

The new $170 million state-of-the-art facility will have the capacity to process up to 2,400 metric tonnes of canola per day (840,000 metric tonnes annually), producing 1,000 metric tonnes of fully-refined, food grade canola oil on a daily basis. Combined with Richardson’s canola processing and packaging plant in Lethbridge, Alberta, the Yorkton facility will effectively triple the company’s total canola oil production capacity.

“The opening of the Yorkton plant underscores our optimism in and ongoing commitment to Canada’s food and agriculture industry,” said Hartley T. Richardson, Chairman of Richardson International Limited and President & Chief Executive Officer of James Richardson & Sons, Limited. “This investment represents a significant event in our company’s history and would not have been possible without the ongoing support of our customers.”

Richardson International Limited, Canada’s largest, privately-owned agribusiness, has been at the forefront of canola oil production and marketing over the last decade and has witnessed first hand the increased demand for canola oil and canola oil products.

“Interest and demand for canola oil and canola oil products, led largely by consumer demand for healthier foods and cooking oils, has exceeded our projections and expectations,” said Richardson President Curt Vossen. “Our new facility will allow us to meet this increased demand and fulfill the growing needs of our existing customers.”

While canola oil produced at the plant will be distributed globally, the local community will be the beneficiary of significant positive economic impact resulting from the plant’s construction. The plant will lead to the creation of 65 to 70 new technical and professional jobs, along with increased employment opportunities relating to maintenance, repairs, trucking and various other activities relating to the plant’s operation.

“The construction of this facility is a good news story for everyone involved in our industry, from producers, to suppliers of goods and services, to our end-use customers,” said Vossen. “It truly exemplifies the potential of Western Canada’s agriculture industry and demonstrates what can be accomplished by working together.”

About Richardson International Limited
Employing over 1,600 people across Canada, Richardson is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds. Through its Ag Business Centres, the Company sells crop inputs and related services to producers throughout Western Canada. With canola processing plants in Lethbridge, Alberta and in Yorkton, Saskatchewan, Richardson is one of North America’s largest suppliers of canola oil and meal. In all areas of its business, Richardson continues to provide high-quality products and superior service to its customers.

For further information, please contact:
Jean-Marc Ruest, Vice-President, Corporate Affairs and General Counsel
Telephone: 204.934.5488
Email: Jean-Marc.Ruest@richardson.ca

Stock markets tumble amid European debt worries; commodities dip, US$ rises

Tue, 04 May 2010 19:46:09 GMT

Stock markets tumble amid European debt worries; commodities dip, US$ rises (Dollar-Markets)
Source: The Canadian Press
May 4, 2010 14:13

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TORONTO _ The Toronto stock market was sharply lower Tuesday as investors grew increasingly skeptical about Europe's attempts to contain the sovereign debt crisis.

Commodity stocks led the declines as investors sought the safety of the U.S. dollar, which in turn drove other currencies lower and depressed prices for oil and metals.

The S&P/TSX composite index backed off from its worst levels of the session but at mid-afternoon was still down 156.5 points to 12,040, while the TSX Venture Exchange lost 48.95 points to 1,616.6.

The euro, used by 16 EU members including Greece, hit its lowest level in a year, sliding to US$1.3014, down from US$1.3207 in late trading Monday.

The euro has come under renewed pressure as European governments have scrambled to find a solution to prevent Greece from defaulting on its debts. A euro110-billion (US$145.62-billion) aid package is now in the works but financial markets aren't feeling reassured that such aid would cure Europe's debt crisis.

``Until we get over this whole mess, we're going to see this kind of thing,'' said Fred Ketchen, manager of equity trading at Scotia Capital.

``You look for some reason why something should fail rather than for some reason why it should succeed. You just have a market that continues to show a great deal of nervousness.''

The ballooning size of the bailout has traders worrying that Europe would have an even tougher time rescuing a larger country such as Spain, which is also showing signs of weakness. The Canadian dollar was also lower as investors fled to the safe haven status of the U.S. currency, falling 1.21 cents to 97.74 cents US.

Expectations of a buildup in inventories also depressed oil prices with the June crude contract on the New York Mercantile Exchange down $3.11 to US$83.08 a barrel.

The TSX energy sector lost 1.67 per cent with Canadian Natural Resources (TSX:CNQ) down $1.92 to $77.02.

In Canada's oilpatch, Suncor Energy Inc. (TSX:SU) was one of the few bright spots on the TSX as the company beat earnings expectations thanks to higher energy prices and its 2009 takeover of Petro-Canada. The Calgary-based company handed in quarterly earnings of $716 million, or 46 cents a share. That compared with a net loss of $189 million a year earlier and its shares gained 27 cents to $34.95.

The base metals sector dropped 4.34 per cent as July copper on the Nymex declined 11 cents to US$3.18 a pound. Teck Resources (TSX:TCK.B) moved down $1.50 to $37.30 and HudBay Minerals (TSX:HBM) gave back 73 cents to $12.06.

Worries about how a debt default by Greece could impact the banking system sent the financials sector down almost one per cent. Bank of Montreal (TSX:BMO) lost 98 cents to $62.39.

Industrials also wilted with Canadian National Railways (TSX:CNR) backing off 72 cents to $60.54.

Investors looking for safety had earlier sent gold prices higher. But by late morning, the June bullion contract on the Nymex had fallen $11 to US$1,172.30 an ounce and the TSX global gold index lost early gains to move down 0.39 per cent. Kinross Gold (TSX:K) lost 19 cents to $18.69.

Agnico-Eagle Mines Ltd. (TSX:AEM) shares lost six cents to $63.29 after it said it has reached a definitive agreement to acquire all the shares of Comaplex Minerals Corp. (TSX:CMF) it doesn't already own for about $650 million. Comaplex Minerals were ahead 36 cents to $10.75.

In New York, the Dow Jones industrial average tumbled 234.4 points to 10,917.5 as investors also fret that a stronger dollar would cut into profits for U.S. companies that heavily rely on foreign operations.

The Nasdaq composite index lost 72.96 points to 2,425.78 while the S&P 500 index declined 27.3 points to 1,174.95.

Better than expected economic data failed to encourage buyers.

The U.S. Commerce Department said that orders to U.S. factories rose a surprising 1.3 per cent in March with widespread gains in many industries offsetting a big drop in commercial aircraft.

And the National Association of Realtors seasonally adjusted index of sales agreements for previously occupied homes rose 5.3 per cent from a month earlier to a reading of 102.9, the highest level since October.

In other earnings news, grocer Loblaw Co. (TSX:L) earned $137 million or 50 cents per share during the last quarter _ better than the 44 cents a share that analysts expected and up from $109 million or 40 cents per share a year ago.

Loblaws revenue was up 3.1 per cent compared with the same time last year, rising to $6.9 billion from $6.7 billion _ thanks largely to the acquisition of T&T Supermarket Inc., a chain that caters to ethnic Chinese customers. Loblaws shares rose 60 cents to $38.40.

``Some people had written Loblaws off a long time ago but I think some of their acquisitions, particularly in the foreign food chains, foreign food offerings that they have put up have made a difference,'' added Ketchen.

WestJet Airlines Ltd. (TSX:WJA) said it earned $13.8 million or 10 cents per diluted share in the first quarter on revenue of $619.8 million. Rising fuel costs helped drive down profit by 63 per cent from a year ago. Earnings missed expectations of 15 cents a share and its shares fell 45 cents to $13.20.

News and information giant Thomson Reuters (TSX:TRI) reported that its net income was US$134 million or 15 cents per share in the first quarter with US$3.14 billion of revenue. Thomson Reuters added that it continues to expect 2010 annual revenue will be flat or slightly below last year's and its shares added 22 cents to $37.

Beer maker Molson Coors (NYSE:TAP, TSX:TPX.B) said its first-quarter profit climbed 38 per cent to US$104.6 million on a tax-related gain. But consumers bought less of its beer and costs rose, causing adjusted results to miss analyst expectations. In New York, the company's stock was down 16 cents to $44.38.

INDEX: ECONOMY BUSINESS

North American markets set to open higher as Greek bailout nears

Thu, 29 Apr 2010 12:48:24 GMT

North American markets set to open higher as Greek bailout nears; dollar rises (Dollar-Markets)
Source: The Canadian Press
Apr 29, 2010 8:38

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TORONTO _ The Toronto stock market appeared set to reverse some of the losses seen in the previous two sessions as the European Union assured investors it would conclude talks on a bailout for Greece by the weekend.

The TSX lost 1.7 per cent of its value in the last two days of trading as credit downgrades of Greece, Portugal and Spain raised investor fears that the Greek debt crisis was beginning to infect other countries.

This sent investors fleeing to safe-haven investments, like the U.S. dollar and gold.

This trend seemed to reverse Thursday, as the American greenback fell against other currencies. The Canadian dollar added 0.67 cent to 99.80 cents US.

The price of oil jumped $1.03 to US$84.25 a barrel, while the price of gold lost $4.30 to US$1,167.50 an ounce.

On Wall Street, Dow Jones industrial average futures rose 38 points, or 0.3 per cent, to 11,053.

Standard & Poor's 500 index futures rose 6.30 points, or 0.5 per cent, to 1,196.40, while Nasdaq 100 index futures rose 9.50 points, or 0.5 per cent, to 2,016.25.

INDEX: ECONOMY BUSINESS

Growing demand in emerging countries will help fuel CN Rail growth

Wed, 28 Apr 2010 20:31:30 GMT

Growing demand in emerging countries will help fuel CN Rail growth, says CEO (CN-Rail-Annual)
Source: The Canadian Press
Apr 27, 2010 16:48

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MONTREAL _ Growing Asian demand for North American commodities will assist Canadian National Railway's growth during what is expected to be at least a gradual overall economic recovery, its new chief executive said Tuesday.

While the U.S. and Canadian economies are slowly gaining traction, increased demand by China, India and other growing economies will push shipments, Claude Mongeau said at the railway's annual meeting.

``I think potash and coal are destined for a great future as these emerging economies continue to grow,'' he told shareholders.

Mongeau, who took over from Hunter Harrison on Jan. 1, added that Canada's largest railway will benefit from this demand over the coming years as an important transportation supplier to the country's many sectors.

Evidence of the impact that emerging countries were having on results was seen in the first quarter, when about half of the growth in the key lumber business was due to Asian demand.

Mongeau said the demand is driven in China and other markets by the increasing use of wood products in Asian building codes. Chinese demand is also driving imports of Canadian pulp, even though paper demand remains challenged.

China will remain a global powerhouse even if it allows a gradual rise in the value of the yuan, Mongeau later told reporters.

Although the move would make its goods more expensive, the nature of global trade would minimize the impact on CN's container traffic through its two B.C. ports.

Mongeau said he hopes there will be a recovery in all sectors the railway serves as indications so far suggest the improvement is broad-based. Of greater concern than individual sectors is the health of the overall economy, he added.

Shaken consumer confidence or new developments resulting from Greece's economic woes could arrest the expected economic improvement, he added.

``If the economy is on the mend then pretty much every sector should see good growth in the next year.''

The railway is counting on increased volumes, continued operating efficiency and cost control to drive strong earnings growth this year despite facing a loonie hovering at par.

It told analysts Monday that it now aims for ``solid double-digit growth'' over 2009 earnings of $3.24 per share, and about $1 billion in free cash flow, compared to $700 million in 2009.

Analysts said the rosier outlook is supported by significant improvements in its operations, growth of industrial production, inventory replenishment and a sharp turnaround in the auto industry.

They expect CN's new earnings forecast suggests growth of about 16 per cent, despite a lowering its assumption for contract prices to a 3.5 per cent increases.

``Overall, this is a directionally a positive shift in guidance, particularly given the stronger head winds in fuel costs and the Canadian currency,'' wrote Walter Spracklin of RBC Capital Markets.

CN earned $511 million, or $1.08 per diluted share, for the quarter ended March 31. That was up from a profit of $424 million or 90 cents per diluted share a year ago.

Revenue totalled $1.97 billion, up six per cent from $1.86 billion.

On the Toronto Stock Exchange, CN's shares closed at $62.21, down $1.51, or 2.37 per cent.

INDEX: FORESTRY AUTOMOTIVE AGRICULTURE OIL&GAS TRADE

Stock markets advance amid oilpatch dealmaking, earnings optimism

Mon, 12 Apr 2010 15:50:49 GMT

Stock markets advance amid oilpatch dealmaking, earnings optimism (Dollar-Markets)
Source: The Canadian Press
Apr 12, 2010 11:35

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TORONTO _ The energy sector helped push the Toronto stock market higher late Monday morning amid rising oil prices and reports of major dealmaking in the oilsands sector.

The S&P/TSX composite index moved up 29.3 points to 12,206.2. The TSX Venture Exchange gained 5.38 points to 1,685.96.

The Toronto market's energy component was up 0.34 per cent amid a report that China Petroleum & Chemical Corp., Asia's biggest refiner, plans to buy a stake in oilsands producer Syncrude Canada Ltd. from ConocoPhillips (NYSE:COP).

Sources say Sinopec may pay about US$4 billion for the stake. Shares in Syncrude's other partners improved, with Canadian Oil Sands Trust (TSX:COS.UN) gaining 62 cents to $31.32 on hopes that company could be the target of a buyout.

``Any time you start getting takeover rumours, particularly in the Canadian oilpatch, that suggests people could be coming for more,'' said Colin Cieszynski, market analyst at CMC Canada.

``What is shows is all the majors have heard of Canadian oilsands, they're all interested and it's a matter of being there because it is a huge resource.''

The May crude contract on the New York gave up early losses to move up 51 cents to US$85.43 a barrel.

On the TSX Venture Exchange, Petro Vista Energy Corp. (TSXV:PTV.V) shares surged six cents or 27.9 per cent to 27.5 cents following a positive drilling report on its Tartaruga Block in Brazil. It expects to initiate production within the next two weeks.

Other commodity sectors were supportive. The TSX global gold sector was ahead 0.38 per cent as the June bullion contract on the Nymex gained $2.80 to US$1,164.70 an ounce.

Gammon Gold Inc. (TSX:GAM) shares were ahead 23 cents to $7.45 after it said two separate problems at its Ocampo mine in Mexico had a negative impact on its first-quarter financial results and pulled down production. The Halifax-based company said Monday that 36,546 gold equivalent ounces were produced in the quarter versus 41,997 ounces in the same period a year earlier.

The base metals sector climbed 0.32 per cent while May copper was ahead two cents at US$3.61 a pound. Equinox Minerals (TSX:EQN) gained four cents to $4.39 and HudBay Minerals (TSX:HBM) rose 11 cents to $13.36.

Blue chips also lent support as Scotiabank (TSX:BNS) rose 40 cents to $50.82.

The Canadian dollar moved up a quarter of a cent to 99.85 cents US.

The Toronto market also got a boost from high hopes pinned on the first-quarter earnings season, which gets started later in the day.

Aluminum giant Alcoa Inc. kicks off the earnings season for U.S. companies after the close and was expected to post a first-quarter profit of 10 cents a share, which would be a big improvement over the loss that Alcoa handed in a year ago. Its shares climbed 30 cents to $14.69.

Chip company Intel Corp., JPMorgan Chase, Google and General Electric also hand in earnings reports during the week. The bulk of Canadian major public companies begin to issue first-quarter results in about three weeks.

Stocks have been rising steadily this year reports show steady but slow economic growth and hopes are high that earnings will reflect growth that comes from higher sales and not just from cost cutting.

There was also relief amid news of a new bailout plan for Greece.

Over the weekend, European leaders agreed to make loans available to Greece to help the country deal with its high debt levels. The 16 countries that use the euro agreed to provide euro30 billion (US$40.49 billion) in loans to Greece if the country asks for money. The International Monetary Fund would contribute another euro10 billion (US$13.5 billion) if needed.

The loans would carry interest rates below what private lenders had been demanding in recent days to hold Greek debt.

``Now it's not a huge lift because people have been expecting for several months now that at some point, they were going to have to step up and help out Greece,'' added Cieszynski.

``Now we're at the point where it's not a bad thing because they have outlined exactly how much money will be available but they haven't actually needed it, which is a good thing.''

On the economic front, Canada Mortgage and Housing Corp. reported that housing starts came in at a seasonally adjusted annual rate of 197,300 units, down about 3,000 from a revised February reading.

New York markets were also higher ahead of the Alcoa report with the Dow Jones industrial average ahead 17.2 points to 11,014.5.

The Nasdaq composite index advanced 2.46 points to 2,456.61 with shares in smartphone maker Palm Inc. ahead $1.04 to US$6.20 on reports that the firm has hired investment bankers to get bids for the company as early as this week.

The S&P 500 index gained 2.15 points to 1,196.5.

In other corporate news, Telus Corp. (TSX:T) shares dipped 38 cents to $37.42 as it said it plans to expand the scope of its broadband services in Quebec by investing $250 million in the province this year. Canada's second-largest telecom company says the money will be put towards fibre optic networks that will make internet services available to more Quebec communities.

Enbridge Energy Partners, LP (NYSE:EEP) plans to build a cryogenic processing plant on its Anadarko natural gas gathering system in southern Texas. Cryogenics involves using ultralow temperatures to separate the heavier natural gas liquids, or NGLs, from lighter hydrocarbons. The partnership, which is led by Calgary-based Enbridge Inc. (TSX:ENB), didn't disclose the new plant's cost. Enbridge shares rose 32 cents to $49.85.

Orsu Metals Corp. (TSX:OSU) said Friday it has signed a deal to raise up to $28 million that will be used to fund exploration and development of the company's projects in Kazakhstan and the Kyrgyz Republic. Its shares were down a penny to 24.5 cents.

Earlier in Asia, Hong Kong's Hang Seng index fell 0.3 per cent while Japan's Nikkei 225 stock average rose 0.4 per cent.

Investors also took in data indicating that the Chinese central bank's efforts to prevent runaway lending and restore financial discipline in state-owned banking industry might finally be taking hold, lessening the need to raise interest rates to curb inflation.

Figures from the bank show that lending by Chinese banks fell 43 per cent in the first quarter from a year earlier.

Over the weekend, the government reported China ran its first trade deficit in nearly six years in March, as a surge in imports outpaced export growth. Officials said the trend was likely to be short-lived but signalled a return to more balanced trade after years of massive surpluses.

London's FTSE 100 index edged up 0.25 per cent, Frankfurt's DAX rose 0.16 per cent while the Paris CAC40 climbed 0.15 per cent.

INDEX: ECONOMY BUSINESS

Stock markets little changed following string of advances

Tue, 06 Apr 2010 19:06:14 GMT

Stock markets little changed following string of advances; commodities mixed (Dollar-Markets)
Source: The Canadian Press
Apr 6, 2010 14:13

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TORONTO _ The Toronto stock market was down slightly Tuesday afternoon with little in the way of major economic news to spur buying or selling.

Analysts said a break was due following a 1.6 per cent rise at the Toronto Stock Exchange over the previous five sessions due to rising commodity prices and positive economic data.

``We've had some very strong days here and in the U.S.,'' said Garey Aitken, director of equity research at Bissett Investment Management.

``I think things have been really good. On balance the data points from the economy have been very positive here and I think it's really supported this equity run _ and we're probably due for a pause.''

The S&P/TSX composite index moved 14 points lower to 12,172.4. The TSX Venture Exchange gained 3.81 points to 1,635.27.

There were also worries that a European bailout plan for Greece would prove insufficient to contain the country's debt crisis. Reports earlier in the day said that the debt-laden country is trying to renegotiate the terms of its aid package after discovering how stringent any involvement from the International Monetary Fund would be.

A Finance Ministry official later denied those reports. A deal was hammered out last month which would provide Greece with bilateral loans from eurozone countries and the International Monetary Fund to avoid default.

Weakness on the Toronto market was led by the industrials sector, down 0.61 per cent. Sector heavyweight Bombardier Inc. (TSX:BBD.B) dropped six cents to $5.53 while Canadian National Railways (TSX:CNR) shed 60 cents to $61.50.

The energy sector was another major loser, down 0.56 per cent as oil stepped back after a weaker U.S. dollar and positive American economic data helped send crude surging more than eight per cent over the past six sessions. The May crude contract on the New York Mercantile Exchange was down 24 cents to US$86.38 a barrel. Canadian Natural Resources (TSX:CNQ) lost 99 cents to $78.90.

Suncor Inc. (TSX:SU) climbed 18 cents to $35.40 as the company announced that an upgrader at its oilsands facility in Fort McMurray, Alta., is back online ahead of schedule after a fire in early February. Suncor also said Monday that production numbers for March have also surpassed their original estimate _ 245,000 barrels a day over the 230,000 barrels a day originally forecast for the month.

The base metals sector stepped back 0.45 per cent while May copper was unchanged at US$3.63 a pound. Labrador Iron Mines Holdings (TSX:LIM) declined 32 cents to $7.20 while Equinox Minerals (TSX:EQN) advanced four cents to $4.17.

The TSX global gold index was slightly lower with the June bullion contract on the Nymex ahead $4.10 to US$1,137.90 an ounce. Goldcorp Inc. (TSX:G) moved down 41 cents to $38.46.

The telecom sector paced advancers.

BCE Inc. (TSX:BCE) gained eight cents to $30.38 after the telecom said it has sold its stake in satellite services company SkyTerra Communication Inc. for about $111 million. SkyTerra, headquartered in Reston, Va., but with offices in Ottawa, provides satellite communications for public safety, security, fleet management and other customers.

Telus Corp. (TSX:T) shares rose 52 cents to $38.46 after it announced it's investing $650 million in British Columbia to extend its advanced wireline and wireless broadband services in that province in order to deliver more high-speed Internet and high-definition digital TV.

The Canadian dollar rose above parity during the morning for the first time since July 2008. The currency rose as high as 1.0012 cents US during the day but was at 99.89 cents US at midafternoon, up 0.39 of a cent from Monday's close.

``This Canadian market continues to be very strong, and especially in the context of a rising Canadian dollar,'' observed Aitken.

``A lot of the things that underpin this Canadian market have been pretty solid here.''

New York markets were mixed ahead of the release of the minutes from the Federal Reserve's most recent meeting.

The Fed kept its key rate at a historic low during the March meeting to help generate growth. Investors were looking for signs of when the Fed might raise rates to stave off a possible jump in inflation.

The Dow Jones industrial average down 19.4 points to 10,954.2.

The Nasdaq composite index gained 3.63 points to 2,433.16 while the S&P 500 index inched up 0.3 of a point to 1,187.75.

There are few catalysts on the calendar that are likely to sway trading in the coming days as U.S. companies prepare to begin releasing first-quarter earnings next week.

In other economic news, WestJet Airlines Ltd. (TSX:WJA) shares added two cents to $13.56 after it said Tuesday that its passenger traffic in March was up 10 per cent from the same time last year. That equates to about 94,000 additional passengers. The Calgary-based airline's load factor _ which is a measure of how full its fleet was _ rose to 83.8 per cent, up 1.9 percentage points from March 2009.

CGI Group Inc. (TSX:GIB.A) says it will provide software maintenance and development services to Poland's leading telecommunications provider. The value of CGI's three-year agreement with Telekomunikacja Polska Group (TP Group) wasn't disclosed. CGI shares shed five cents to $15.50.

In New York, shares of Massey Energy Co. fell more than 10 per cent after an underground explosion Monday afternoon blamed on methane gas killed 25 coal miners about 50 kilometres south of Charleston, W.Va. Four others were missing Tuesday in the worst U.S. mining disaster since 1984.

INDEX: ECONOMY BUSINESS

Improving China US ties boost prospects for Canadian summits

Tue, 06 Apr 2010 19:04:52 GMT

Improving China US ties boost prospects for Canadian summits (Cda-G20-China)
Source: The Canadian Press
Apr 6, 2010 14:25

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OTTAWA _ China and the United States are making moves to defuse their tensions, and that means Canada stands a better chance of declaring its G20 summit in June a success.

First, China offered last Thursday to join talks on renewing sanctions against Iran.

Then, the United States announced it would stand down for now on its attempts to brand China a ``currency manipulator'' _ a provocative label that hints at trade sanctions to follow.

Just two weeks ago, relations between the two countries had deteriorated so much that insiders wondered if the G20 process had much of a future.

But now the two superpowers have given each other some breathing room, and have tasked the fledgling G20 with putting together a package in which all regions of the world would make substantial changes.

The G20 brings together emerging and advanced countries to make decisions on the global economy, and Canada is hosting the next summit in June in the hopes of solidifying the world's economic recovery.

INDEX: ECONOMY NATIONAL BUSINESS POLITICS

Healthy foods trend has farmers hoping to get legumes into more products

Tue, 30 Mar 2010 14:54:54 GMT

Healthy foods trend has farmers hoping to get legumes into more products (US-Food-and-Farm-Lent)
Source: The Canadian Press
Mar 29, 2010 15:35

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Lentils are a hot topic among gourmets these days, with recipes for them popping up in most major food magazines.

Lentil and other legume farmers hope to capitalize on this interest and convince consumers and food producers to use them in breads and cookies as well as the more traditional soups and stews. To do this, they've formed a new marketing venture aimed at promoting the health and other benefits of lentils, dry peas, garbanzo beans and other so-called ``pulse'' crops.

``They're barking up the right tree,'' said Brad Barnes, associate dean of culinary education at The Culinary Institute of America.

Growing interest in Indian and other international cuisines, along with greater awareness of intolerance to gluten, a protein found in many grains, have fostered an interest in lentils and legumes, Barnes and others said. A general push toward eating healthier also has made high-fibre, high-protein, low-fat legumes more appealing, said Tina Ujlaki, executive food editor at Food and Wine magazine.

``I think a lot of people are trying to move meat to the side of the plate rather than the centre of the plate,'' Ujlaki said. ``More people are trying legumes, vegetables. Also, people are trying to cut costs, and these ingredients are not that expensive.

``There's big bang for your buck moneywise and healthwise.''

The interest comes at a good time for farmers, who have seen production of lentils and dry peas rebound after drought ravaged the crop in 2008 in the top two producing states of North Dakota and Montana. The U.S. had record crops last year, producing 1.7 billion pounds of dry peas and 590 million pounds of lentils, according to the U.S. Department of Agriculture.

Right now, most of the market for the two crops is overseas, with two-thirds or more of U.S.-grown peas and lentils being exported, said Eric Bartsch, general manager of Bismarck-based United Pulse Trading Inc. Much of the demand has been in drought-ridden areas of India and other parts of South Asia as well as Turkey.

``Demand in the U.S. is still not huge, but it is growing,'' he said. ``We see it as definitely becoming a major part of our markets in the future.''

Domestic demand has increased with the growth of ethnic minorities, but Barnes said more people of all races have become interested in Indian and other foreign foods. The Internet has made it easier to research international foods and find ingredients.

``With the information pipeline out there, it's certainly easier for someone interested in food to discover Morocco,'' he offered as an example.

``Global flavours and perspective in food and the culinary arts are growing every day,'' he added.

Farmers hoping to capitalize on this interest have formed the American Pulse Association, a joint venture of the USA Dry Pea and Lentil Council and the US Dry Bean Council. Chief executive Tim McGreevy said he expects new research and other efforts ``will have a huge impact on domestic consumption here in the next five years.''

One priority for his group is encouraging research to support ideas about legumes' health benefits. Another focus is getting the crops used more often in mainstream food manufacturing.

``We're heavily weighted toward traditional uses of these products, which is soups and stews,'' McGreevy said. ``There hasn't been extensive research done on how these pulse flours can be worked into breads, tortillas ... muffins, cookies.''

Industry leaders are holding a planning session this week, in Beltsville, Md., with about 50 science and industry experts. After they come up with specific plans on how to proceed they will seek funding from agencies such as the Agriculture Department and the National Institutes of Health, McGreevy said.

Ujlaki and Barnes said products made with legume flour would probably be attractive to people who are allergic to gluten or have celiac disease, a digestive disorder triggered by proteins found in wheat, barley and rye.

``If you go to a health-food store, you'll see half the cookie aisle is gluten-free, half the crackers are gluten-free,'' Ujlaki said.

The final part of the American Pulse Association's plan is to promote legumes' environmental benefits. Unlike corn and other crops that require a lot of expensive fertilizer, legumes put nitrogen back into the soil.

Beau Anderson, who farms in northwest North Dakota and teaches farm management at a Williston college, said they fit in well in crop rotation plans farmers use to protect soil and stem off plant diseases. They also require less work with emissions-spouting farm equipment, McGreevy said.

``The United States and the world are crying out for improvements to our health and to our environment,'' said Cindy Brown, vice-chairwoman of the American Pulse Association. ``Pulse crops offer tangible solutions to these problems.''

INDEX: LIFESTYLE AGRICULTURE FOOD

Oil falls to near $81 in Asia after report shows US crude supplies up

Wed, 24 Mar 2010 14:32:18 GMT

Oil falls to near $81 in Asia after report shows US crude supplies up (Oil-Prices)
Source: The Canadian Press
Mar 24, 2010 4:25

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SINGAPORE _ Oil prices fell to near $81 a barrel Wednesday in Asia after a report showed a larger-than-expected jump in U.S. crude inventories last week.

Benchmark crude for May delivery was down 70 cents to $81.21 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract gained 31 cents to settle at $81.91 a barrel on Tuesday.

Oil supplies in the U.S. have risen sharply in recent weeks, belying a slow but steady overall economic recovery and suggesting consumer demand remains weak.

Crude inventories jumped last week by 7.5 million barrels, the American Petroleum Institute said late Tuesday. Analysts had expected an increase of 1.7 million barrels, according to a survey by Platts, the energy information arm of McGraw-Hill Cos.

Inventories of gasoline and distillates fell, the API said.

The Energy Department's Energy Information Administration is scheduled to announce its supply report later Wednesday.

In other Nymex trading in April contracts, heating oil fell 1.33 cents to $2.084 a gallon, and gasoline slid 2.23 cents to $2.241 a gallon. Natural gas dropped 2.8 cents to $4.102 per 1,000 cubic feet.

In London, Brent crude was down 62 cents at $80.08 on the ICE futures exchange.

INDEX: OIL&GAS BUSINESS

Richardson Expands Grain-Handling Network

Mon, 22 Mar 2010 18:19:59 GMT

Winnipeg, Manitoba, March 22, 2010 – Building on its long-standing commitment to serve and meet the needs of farm customers in Western Canada, Richardson International Limited (“Richardson”) will be making enhancements to increase efficiency at several of its grain handling and crop input facilities in the months ahead.

“This year, we will be rolling out the third phase of our multi-year strategic plan to expand and improve our operations,” says Darwin Sobkow, Richardson’s Vice-President, Agribusiness Operations. “By investing in the front end of our Richardson Pioneer Ag Business Centres, we are not only improving the capacity and efficiency we can provide to our customers today, we are anticipating their future needs as we work together to meet the growing global demand for quality Canadian crops.”

In 2010, Richardson is to invest $20 million to expand the following Ag Business Centres in Saskatchewan and Alberta:

Olds, AB – Increasing storage capacity by 13,000 metric tonnes; adding a high-capacity grain dryer; enhancing on-site office space and expanding rail car capacity to accommodate a 112-car unit train.

Hamlin, SK (North Battleford) – Increasing storage capacity by 14,000 metric tonnes.

Canora, SK – Building a new 1,200 metric tonne fertilizer storage facility with a 300 mt/hr continuous high-speed blender.

Yorkton, SK – Building a multi fertilizer distribution facility with 30,000 metric tonnes of storage capacity, including the ability to receive fertilizer unit trains, support rail and truck receiving at 750 mt/h and ship at 300 mt/h (with an additional 400 mt of overhead storage).

These plans are the latest in a series of significant investments Richardson has made to develop the most efficient agribusiness pipeline in Western Canada.

About Richardson International Limited
Employing over 1,600 people across Canada, Richardson is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds. Through its Ag Business Centres, the Company sells crop inputs and related services to producers throughout Western Canada. With a canola processing plant in Lethbridge, Alberta, and a second plant soon to be opened in Yorkton, Saskatchewan, Richardson is one of North America's largest suppliers of canola oil and meal. In all areas of its business, Richardson continues to provide high quality products and superior service to its customers.

For further information, please contact:
Jean-Marc Ruest, Vice-President, Corporate Affairs and General Counsel
Telephone: 204.934.5488
Email: Jean-Marc.Ruest@richardson.ca

Stocks look to open lower amid lack of clarity about financial aid for Greece

Thu, 18 Mar 2010 12:47:26 GMT

Stocks look to open lower amid lack of clarity about financial aid for Greece (Dollar-Markets)
Source: The Canadian Press
Mar 18, 2010 8:21

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TORONTO _ North American stock markets headed for a mainly lower open on Thursday with the Greek debt crisis and the financial sector in focus.

The Canadian dollar was slightly higher, up a tenth of a cent to 99.08 cents US.

The Dow Jones industrial futures were ahead seven points to 10,670, the Nasdaq futures were down three points to 1,931, and the S&P 500 futures stepped back an eighth of a point to 1,160.2.

Germany has said this week that Greece's debt problems can be addressed only by the country's austerity program.

And on Thursday, Greek Prime Minister George Papandreou said that his country would have to resort to help from the IMF, which would be a humiliation for the eurozone, if it does not receive aid from fellow European countries.

Greece and its debt crisis had moved to the background earlier this week on hopes that an EU summit next week would come up with a bilateral loan proposal to help the country finance its huge deficit. Also, Standard & Poors's had announced it was taking Greece off so-called credit watch with the rating agency pronouncing itself satisfied with the Greek government's austerity measures.

Meanwhile, financial stocks could be under selling pressure after American banking giant Citigroup cut its rating on the global financial sector to neutral from overweight.

The energy sector will likely start the session off lower as oil prices slipped following two days of sharp advances that were fueled by signs U.S. crude demand may be improving.

The April crude contract on the New York Mercantile Exchange declined 63 cents to US$82.30 a barrel.

The April gold contract on the Nymex gained $1.50 to US$1,125.70 an ounce while May copper was unchanged at US$3.41 a pound.

Overseas, the downbeat mood sent Japan's Nikkei 225 stock average down one per cent while Hong Kong's Hang Seng dropped 0.3 per cent.

London's FTSE 100 index rose 0.1 per cent, Frankfurt's DAX and the Paris CAC 40 were flat.

Investors also took in a strong earnings report from FedEx. The world's second-largest package delivery company reported that its fiscal third-quarter profit more than doubled from a year earlier to US$239 million. The company, considered an economic bellwether because of the variety of products it ships, also raised the forecast for full-year earnings on expectations of ``a continued modest recovery in the global economy.''

In other corporate news, A U.S. federal judge has dismissed a shareholder lawsuit against CIBC (TSX:CM) claiming that the big Canadian bank misled investors about its exposure to the U.S. subprime mortgage market. A Manhattan court judge said the bank was only one of many financial institutions that did not foresee just how great a toll the U.S. mortgage market downturn would take on its bottom line.

INDEX: OIL&GAS ECONOMY MINING BUSINESS FINSERVICES

New Democrat wants to regulate genetically modified crops amid export crisis

Wed, 17 Mar 2010 13:07:23 GMT

New Democrat wants to regulate genetically modified crops amid export crisis (Genetic-Crops)
Source: The Canadian Press
Mar 16, 2010 10:01

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OTTAWA _ Members of Parliament are debating a private-member's bill this week that its proponents say would fill a critical gap in regulations governing genetically engineered seeds.

The bill presented by NDP agriculture critic Alex Atamanenko would require an analysis of potential harm to export markets before sales of any new genetically engineered seeds are allowed.

Canadian approvals of genetically engineered seeds are currently based on environmental and health assessments, but Atamanenko says they ignore their potential effects on export markets.

Canada's flax industry has been shut out of its largest export market after traces of Triffid, a genetically modified form of the crop ordered destroyed 10 years ago, was found in shipments.

The European Union buys 70 per cent of Canadian flax and has a zero-tolerance policy regarding genetically modified organisms.

Officials say Canada's entire $320-million industry is threatened.

``Farmers have been hit hard enough over the years,'' Atamanenko said Tuesday. ``We have seen what has happened to flax; we have seen the other crisis that is hitting hog producers, cattle producers.

``We don't want to throw another obstacle into the ability of farmers to produce good-quality food and to make a living. It's important to prevent happening to wheat and alfalfa what is happening to flax.''

Industry officials have been scrambling to weed out the offending seed since the problem was discovered in September. Only about one in 10,000 flax seeds are affected.

The modified Triffid flax seed was deregistered and ordered destroyed 10 years ago.

INDEX: TRADE NATIONAL AGRICULTURE SCIENCE

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Received Id 1276063332 on Mar 16 2010 09:01

Stock markets head for positive open after U.S. Fed leaves rates unchanged

Wed, 17 Mar 2010 13:06:28 GMT

Stock markets head for positive open after U.S. Fed leaves rates unchanged (Dollar-Markets)
Source: The Canadian Press
Mar 17, 2010 8:17

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TORONTO _ North American stock markets headed for a positive start to the trading day Wednesday in the wake of the U.S. Federal Reserve's decision to keep interest rates unchanged ``for an extended period.''

In New York, the Dow Jones industrial futures rose 21 points to 10,645, the Nasdaq futures climbed 3.5 points to 1,932 while the S&P 500 futures were ahead 3.1 points to 1,157.9.

The Canadian dollar rose 0.17 of a cent to 98.79 cents US.

The Toronto market will likely also find lift from higher commodity prices. Oil prices gained headway after a report showed U.S. crude inventories grew less than expected last week.

The April crude contract on the New York Mercantile Exchange climbed 61 cents to US$82.31 a barrel after the American Petroleum Institute reported that crude inventories rose by 400,000 barrels last week, far less than the increase of 1.9 million barrels that had been expected.

The Energy Department's Energy Information Administration is scheduled to announce its supply report later Wednesday. Meanwhile, leaders of the 12-nation Organization of Petroleum Exporting Countries have signalled they don't expect the group to change production quotas when it meets Wednesday in Vienna.

Other commodity prices advanced as the April gold contract on the Nymex was ahead $6.80 to US$1,129.30 an ounce while May copper rose five cents to US$3.41 a pound.

Stock markets advanced Tuesday after the U.S. Federal Reserve kept a key lending rate at a historically low level, saying the economy is showing signs of improvement.

The Fed also painted a more optimistic assessment of the U.S. economy _ it noted that the labour market was ``stabilizing'' and that business spending was rising ``significantly.''

At the moment, the consensus in the markets is that the Fed will raise its benchmark funds rate from the current range of zero to 0.25 per cent around the third quarter of this year.

Japan led overseas markets higher after its central bank kept a key interest rate at 0.1 per cent and expanded money available through its short-term lending program.

Tokyo's Nikkei 225 stock average rose 1.2 per cent and Hong Kong's market jumped 1.7 per cent.

There was also relief over news that the Standard & Poor's credit ratings agency gave its cautious backing to the Greek government's attempts to get a grip on its borrowing by taking the country off so-called credit watch. That means the agency is not thinking about downgrading the country's BBB-plus credit rating at the moment, to the relief of the Greek government as it tries to plug its deficit by tapping the international bond markets for cash.

London's FTSE 100 index gained 0.44 per cent, Frankfurt's DAX was up 0.76 per cent and the Paris CAC 40 rose 0.45 per cent.

In earnings news, Petrobank Energy and Resources Ltd. (TSX:PBG) said Tuesday that despite stellar fourth quarter earnings, profits for 2009 dropped 40 per cent from year-earlier levels mainly due to lower oil and natural gas prices. Net earnings for the year dropped to $145 million. Fourth quarter net earnings doubled to $57.1 million compared to year-earlier profits of $28.1 million.

Biopharmaceutical company Cangene Corp. (TSX:CNJ) says its profit shrunk to $3.8 million in its most recent quarter, down from $5.6 million a year ago. Revenue increased by 20 per cent due to $41.5 million.

German auto group BMW AG says the economic crisis has probably reached its lowest point and that its car market could see growth in a single-digit percentage range in 2010. The company, which also builds the Mini and Rolls Royce brand cars, said setbacks in the world economy could continue to arise and that it was still difficult to make a more precise or reliable forecast.

INDEX: OIL&GAS ECONOMY MINING BUSINESS FINSERVICES

Richardson International is the Presenting Sponsor

Mon, 15 Mar 2010 18:42:47 GMT

Winnipeg, Manitoba, March 15, 2010 – Richardson International, in conjunction with the World Curling Federation and the Canadian Curling Association, is proud to announce that it will stand as the Presenting Sponsor of the 2011 Ford World Men’s Curling Championship to be held April 2-10, 2011 in Regina, Saskatchewan.

“We realize that hosting an event on this scale is important to Saskatchewan, and therefore, it is important to Richardson,” says Kevin Jacobson, Richardson’s Director, Corporate Communications. “Because of our long history and enduring relationship with the people of the province and because a significant percentage of our total grain volume, sales and employee workforce continues to be based there, it is particularly meaningful for Richardson to be able to give back to the community in this way.”

The 2011 Ford World Men’s Curling Championship marks the third time that Regina has hosted a world men’s curling championship. The nine-day event, featuring 22 scheduled draws, will be held at Evraz Place (formerly the Agridome), the site of several major curling events in the past 12 years including the 2001 Canadian Curling Trials, the inaugural Continental Cup in 2002, the 2006 Tim Hortons Brier and the 1998 and 2008 Scotties Tournament of Hearts.

“We have been continually inspired by the people of Saskatchewan, especially in the way they put their hearts into backing their sports culture,” Jacobson says. “Richardson is pleased to be an early supporter of the 2011 Ford Men’s Curling Championships and we have every confidence that the City of Regina will shine in its endeavours to host another successful and world-class sporting event.”

For more information on the 2011 Ford Men’s Curling Championship in Regina, please visit www.seasonofchampions.ca.

About Richardson International Limited
Employing over 1,600 people across Canada, Richardson is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds. Through its Ag Business Centres, the Company sells crop inputs and related services to producers throughout Western Canada. With a canola processing plant in Lethbridge, Alberta, and a second plant soon to be opened in Yorkton, Saskatchewan, Richardson is one of North America's largest suppliers of canola oil and meal. In all areas of its business, Richardson continues to provide high quality products and superior service to its customers.

For further information, please contact:
Kevin Jacobson, Director, Corporate Communications
Telephone: 204.934.5169
Email: kevin.jacobson@richardson.ca

Crop insurance premiums down, more crops included in Sask. 2010 program

Fri, 26 Feb 2010 18:42:08 GMT

Crop insurance premiums down, more crops included in Sask. 2010 program (Sask-Crop-Insurance)
Source: The Canadian Press
Feb 24, 2010 19:39

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REGINA _ Farmers will be paying smaller premiums for coverage this year under Saskatchewan's crop insurance program.

As well, more crops will be eligible for coverage under the 2010 insurance plan that was rolled out Wednesday.

Agriculture Minister Bob Bjornerud says honey, camelina, soybeans and navy beans will now be included in coverage.

He said premiums for producers will drop 16 per cent from last year, and coverage is also down.

Bjornerud says in 2009, the average coverage was about $134 per acre, but this year it drops to $122 per acre due to lower commodity prices.

Yield cushioning, which softens the impact of bad crop years, is now a permanent feature after being introduced last year.

Soybean producer Kevin Elmy liked the changes.

``There's going to be a lot higher comfort level going ahead with the soybeans, and with more acres going in, guess what, the plant breeders are going to respond by producing more early maturing varieties that are going to pod higher and have higher yields.

``The government really responded to what the farmers' needs are this year,'' Elmy said.

Bjornerud says the government is always trying to improve the program.

He says last year 72 to 73 per cent of the acres in the province was covered, but he'd like to see that number go up.

Farmers have until March 31 to apply for coverage or make changes to their existing crop insurance contract.

(CTV Regina)

INDEX: INSURANCE AGRICULTURE POLITICS

AITC-M Recognized with Agricultural Awareness Award

Wed, 24 Feb 2010 21:26:12 GMT

Winnipeg, MB February 23, 2010 – The Manitoba Farm Writers and Broadcasters Association (MFWBA) selected Agriculture in the Classroom – Manitoba as the recipient of its first annual Agriculture Awareness Award at an awards ceremony held in Winnipeg on Thursday, February 18th, 2010.

The MFWBA award recognizes an individual or organization that has made an outstanding contribution to the public awareness and understanding of agricultural issues in Manitoba.

“Our goal with this award is to recognize the people in Manitoba who capture our imagination and interest, compelling us to learn more about agriculture’s role in our province,” stated Crystal Jorgenson, president of Manitoba Farm Writers and Broadcasters Association. “The staff and volunteers with Agriculture in the Classroom – Manitoba are fantastic ambassadors for agricultural awareness and I am thrilled they are the inaugural winners.”

Johanne Ross, executive director of Agriculture in the Classroom – Manitoba received the award of recognition by accepting a beautiful, framed blown-glass wheat art piece and a $300 cheque that will be put toward future AITC-M programming.

“Agriculture in the Classroom is encouraged and excited to receive this award in recognition of the work we do in agriculture awareness and education.” said Johanne Ross. “Our collaborative efforts with partners from across the industry make our work so successful. We would like to thank the Manitoba Farm Writers and Broadcasters Association for honoring us not only with this prestigious award, but also with their interest and coverage of our events and programs across Manitoba.”

Agriculture in the Classroom Manitoba is a non-profit organization supported by individuals and the agriculture industry. Its mandate is to heighten the awareness and importance of agriculture in Manitoba schools. The organization runs several programs throughout the year including the Amazing Agriculture Adventure, the Made in MB Breakfast program, farm tours and other educational events. AITC-M also develops and distributes teacher resources to help deliver agriculture information for use within the school curriculum.
-30-?

For more information, please contact:

Johanne Ross - Executive Director
Agriculture in the Classroom-Manitoba Inc.
(866) 487-4029
(204) 867-0437 (cell)
johanne@aitc.mb.ca

Stocks head for lower open as commodities weaken, investors await consumer data

Tue, 23 Feb 2010 13:00:56 GMT

Stocks head for lower open as commodities weaken, investors await consumer data (Dollar-Markets)
Source: The Canadian Press
Feb 23, 2010 8:24

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TORONTO _ The Toronto stock market headed for a weak open Tuesday amid falling commodity prices and a surprisingly weak reading on German business confidence.

The Canadian dollar moved down 0.12 of a cent to 95.79 cents US.

U.S. futures also pointed to a negative open. The Dow Jones industrial futures declined 16 points to 10,358, the Nasdaq futures moved down 7.75 points to 1,813.25 and the S&P 500 futures dropped 2.5 points to 1,105.

Oil prices fell back from the US$80 a barrel level Tuesday after rallying 15 per cent over the last three weeks on hopes that improving economic conditions would lead to higher demand.

The April crude contract on the New York Mercantile Exchange lost $1.33 to US$79.09 a barrel.

The April gold contract on the Nymex eased 70 cents to US$1,112.40 an ounce while March copper was off three cents to US$3.28 a pound.

The Ifo Institute reported that its business climate index for Germany _ Europe's largest economy _ fell to 95.2 in February from 95.8 the previous month.

The fall was the first in nearly a year.

It comes in the wake of similarly pessimistic reports from the likes of the ZEW institute and mounting evidence elsewhere that the recovery in the 16 country eurozone has been hit by the debt crisis that is afflicting Greece and threatening to spill over into other countries, such as Spain and Portugal.

Investors were looking ahead to the U.S. Conference Board's latest reading on consumer confidence. Its report is expected to show consumer confidence fell slightly in February, after three straight months of gains. The private-sector group' index likely fell to 55 from 55.9, according to economists polled by Thomson Reuters.

The reading still falls well short of what is considered strong _ a reading above 90 means the economy is on solid footing. However, the index has rallied over the past year after bottoming at 25.3 in February 2009.

Investors will also take in the S&P/Case-Shiller 20-city home price index. It is expected to show that while prices continue to fall, the annual rate of decline has slowed significantly. Economists forecast the index fell 3.2 per cent in December, compared with a drop of 5.3 per cent a month earlier.

The most crucial event this week across all markets though is likely to be what U.S. Federal Reserve chairman Ben Bernanke tells U.S. lawmakers on Wednesday and Thursday _ in particular what he says about last week's decision by the Fed to raise its discount rate by a quarter of a percentage point to 0.75 per cent. The discount rate is the rate banks pay for emergency loans from the Fed.

On the plus side, Home Depot Inc. turned in a fiscal fourth-quarter profit while the home improvement retailer also boosted its quarterly dividend for the first time since 2006 and gave a 2010 profit forecast above analysts' expectations.

The company earned US$342 million, or 20 cents per share, for the quarter, a sharp turnaround from a US$54 million loss a year ago. Sales dipped 0.3 per cent to US$14.57 billion.

Kmart shoppers and cost-cutting helped Sears Holdings Corp. boost its profit as the retailer posted its best quarterly profit in three years.

The owner of Sears and Kmart says it earned US$430 million, or US$3.74 per share, during the fourth quarter. That's up from a profit of US$190 million, or $1.55 per share, during the same period last year. Revenue for the quarter dipped less than one per cent to US$13.25 billion.

Meanwhile Sears Canada Inc. (TSX:SCC) handed in a C$128.2-million profit in its most recent quarter, a 29 per cent increase from the year-earlier period. The Toronto-based retailer's revenue fell 5.6 per cent to $1.525 billion while same-store sales decreased by 1.7 per cent.

Overseas, Japan's Nikkei 225 index lost 0.5 per cent while Hong Kong gained 1.2 per cent.

London's FTSE 100 inched up 0.07 per cent, Frankfurt's DAX moved down 0.57 per cent while the Paris CAC 40 index declined 0.22 per cent.

INDEX: OIL&GAS ECONOMY MINING BUSINESS FINSERVICES

RICHARDSON INTERNATIONAL NAMED AMONG CANADA’S 50 BEST MANAGED COMPANIES

Wed, 17 Feb 2010 15:37:18 GMT

Winnipeg, Manitoba, February 17, 2010 – Richardson International Limited, Canada’s largest, privately-owned agribusiness, has secured a place on the annual list of the 50 best managed companies in the country. The achievement marks Richardson International’s first nomination and first win in this prestigious national program for demonstrating its ability to manage change while continuing to build financial success.

Richardson International is actively involved in all aspects of the agriculture cycle: growing, merchandising, grain handling, transportation/logistics, food processing as well as the development of new ideas and better opportunities in agriculture. For over 150 years, the Richardson name has been synonymous with quality and integrity and it continues to be a Canadian leader by cultivating innovative agribusiness products, markets and solutions for a growing world.

“The Best Managed designation is a recognized mark of business excellence and we are extremely proud that Richardson International is among this year’s esteemed group of companies being presented with this award,” says Hartley T. Richardson, Chairman of Richardson International and President & Chief Executive Officer of James Richardson & Sons, Limited. “This distinction acknowledges Richardson International as a leader in both the agriculture industry and the business community.”

“We are honoured to be named as one of Canada’s 50 Best Managed Companies this year, mindful that our success is a product of the drive and innovative spirit of our employees and the invaluable support we receive from customers and suppliers,” says Curt Vossen, President of Richardson International. “We are confident that this recognition will further support our efforts to recruit and retain talented people who will continue to be highly committed to serving our customers and the communities in which we do business.”

About Richardson International Limited
Employing over 1,600 people across Canada, Richardson is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds. Through its Ag Business Centres, the Company sells crop inputs and related services to producers throughout Western Canada. With a canola processing plant in Lethbridge, Alberta, and a second plant soon to be opened in Yorkton, Saskatchewan, Richardson is one of North America's largest suppliers of canola oil and meal. In all areas of its business, Richardson continues to provide high quality products and superior service to its customers.

About Canada’s Best Managed Companies
Canada’s 50 Best Managed Companies continues to be a mark of excellence for Canadian-owned and managed companies with revenues over $10 million. Every year since the launch of the program in 1993, hundreds of entrepreneurial companies have competed for this designation in a rigorous and independent process that evaluates their management skills and practices. The awards are granted on three levels: 1) Best Managed winner (one of the 50 new winners selected each year); Re-qualified members (repeat winners retain the Best Managed designation for two additional years, subject to annual operational and financial review); 3) Platinum Club member (winners that maintain Best Managed status for a minimum of six consecutive years). Program sponsors are Deloitte, CIBC Commercial Banking, National Post and Queen’s School of Business. For further information, visit www.canadas50best.com.

For more information, please contact:
Kevin Jacobson, Director, Corporate Communications
Richardson International Limited
Telephone: 204.934.5169
Email: kevin.jacobson@richardson.ca
Web: www.richardson.ca

RICHARDSON INTERNATIONAL ANNOUNCES ACQUISITION OF CROP INPUT CENTRE

Wed, 17 Feb 2010 15:35:52 GMT

Winnipeg, Manitoba, February 8, 2010 – Richardson International Limited (”Richardson”) is pleased to announce that it has completed the acquisition of Total Ag Ltd.’s crop input facility at Falher in the Peace River region of Alberta. The facility will further expand the Richardson Pioneer network of Ag Business Centres in Western Canada giving area producers access to fully-integrated operations and services.

Richardson’s Falher facility offers producers a wide range of crop input sales and services, including high-quality seed, top name crop protection products and specially-blended fertilizers, in addition to timely agronomic advice.

“The Falher facility is an excellent complement to Richardson’s growing crop inputs network,” says Darwin Sobkow, Richardson’s Vice-President, Agribusiness Operations. “By serving as an extension of the products and services we currently provide through our Dunvegan Ag Business Centre in Rycroft, Alberta, the new facility enhances our ability to do business with producers in this highly productive agriculture region.”

Kimber Mader who was the previous owner-operator will continue to manage operations at Richardson’s Falher crop service centre. To ensure consistency of service and the continuation of locally-maintained customer relationships, the company is committed to employing current staff.

“Area customers can be assured that they will continue to receive the same quality of service and products that they have grown to expect from the people that they know and trust,” says Sobkow. “At the same time, our interest and involvement in the Falher facility ensures their access to all the benefits and opportunities of working with a company that is investing locally.”

About Richardson International Limited
Employing over 1,600 people across Canada, Richardson is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds. Through its Ag Business Centres, the Company sells crop inputs and related services to producers throughout Western Canada. With a canola processing plant in Lethbridge, Alberta, and a second plant soon to be opened in Yorkton, Saskatchewan, Richardson is one of North America's largest suppliers of canola oil and meal. In all areas of its business, Richardson continues to provide high quality products and superior service to its customers.

For further information, please contact:
Jean-Marc Ruest
Vice-President, Corporate Affairs and General Counsel
Telephone: 204.934.5488
Email: Jean-Marc.Ruest@richardson.ca

Richardson Signs on as Exclusive Distributor of Syngenta Canada's New Wheat Variety WR859 CL

Fri, 11 Dec 2009 20:41:54 GMT

Winnipeg, MB, December 9, 2009 – Richardson International Limited (“Richardson”) is pleased to announce that it will be Western Canada’s exclusive distributor of WR859 CL, a newly-developed, awned Canadian Western red spring wheat variety from Syngenta Canada.

Offering growers high yield potential and a solid disease resistance package, WR859 CL is a herbicide-tolerant wheat that gives growers the flexibility to use any registered wheat herbicide. It is rated as having a very good resistance to Leaf Rust, Common Bunt and Loose Smut, and good resistance to Fusarium Head Blight. The variety has been developed using traditional plant breeding methods.

Beginning in early 2010, Western Canadian growers will be able to purchase this new variety in limited availability through the Richardson Ag Business Centre network located across Manitoba, Saskatchewan and Alberta.

“We are pleased to partner with Syngenta as the exclusive distributor of WR859 CL and are confident that our customers will benefit from the consistent performance and quality of this variety,” says Peter Entz, Director, Seed and Traits, Richardson International Limited.

“By working in partnership with Syngenta to bring WR859 CL to western growers, Richardson has once again demonstrated its commitment to growing its innovative crop inputs business and to delivering value to customers with top-quality products from the most trusted brand names.”

For more information on growing WR859 CL, please call your local Richardson representative for details or visit www.richardson.ca

For further information, please contact:
Peter Entz, Director, Seed and Traits
Telephone: 204.934.5964
Email: peter.entz@richardson.ca

Fall/Winter 2009 Reporter

Mon, 09 Nov 2009 11:35:10 GMT

Click here to view the Fall/Winter 2009 Reporter.

Richardson Wins 2009 ABEX Award

Tue, 27 Oct 2009 03:07:55 GMT

Winnipeg, Manitoba, October 26, 2009 – Richardson International Limited (“Richardson”) was awarded the 2009 Achievement for Business Excellence (ABEX) Award for Investment at a gala ceremony hosted over the weekend by the Saskatchewan Chamber of Commerce.

Canada’s largest private agribusiness, Richardson was recognized for demonstrating exceptional capital investments in Saskatchewan. In 2009, the company will invest $125 million in the construction of its $165-million canola processing plant near Yorkton. The project, slated for completion in the first quarter of 2010, has already offered an economic boost to the surrounding community through the hiring of local skilled trades workers to assist with construction. In the long term, Richardson will create 65 new technical and professional jobs at the state-of-the-art plant.

In addition to the Yorkton plant, Richardson owns and operates a network of 30 grain-handling and crop input facilities across the province. The company has recently invested $4 million to upgrade and expand several of these locations, enabling greater efficiency of all shipping and receiving operations.

“Richardson has had an established presence in Saskatchewan for over a century, and we believe that the significant investments we have recently made accurately reflect the highly-valued role that the province has had and will continue to have in our company’s success,” says Richardson International President Curt Vossen.

“Greater than 50 per cent of our total grain volume, our sales and our employee workforce continue to come from Saskatchewan,” Vossen says. “We are pleased to strengthen this connection and fortify our commitment to the future of the agriculture industry by creating new capital projects, investing in our existing facilities and by embracing opportunities to give back to the communities which support our
growth.”

The ABEX Awards were established in 1984 by the Saskatchewan Chamber of Commerce to honour outstanding achievements in business excellence in the private sector. The ABEX Awards highlight pivotal business elements of provincial prosperity and are the only business awards to honour all private sector enterprises in Saskatchewan regardless of size and economic activity. Further information on the
awards is available at www.saskchamber.com.

About Richardson International Limited
Richardson International Limited, a subsidiary of James Richardson & Sons, Limited, is Canada’s largest privately-owned agribusiness. The company handles all major grains, oilseeds and special crops, and sells crop inputs and related services through farm service centres throughout Canada. Richardson, which employs 1,400 people, is also actively involved in food processing as North America’s largest supplier of supplier of high-quality canola oil and canola meal.

For further information, please contact:
Jean-Marc Ruest
Vice-President, Corporate Affairs and General Counsel
Telephone: 204.934.5488
Email: Jean-Marc.Ruest@richardson.ca

10th Amazing Agriculture Adventure Embraces Rural Routes!

Fri, 11 Sep 2009 21:25:31 GMT

(Winnipeg, MB September 11, 2009) – An adventurous group of grade 4 and 5 students are going to learn all about agriculture. From the farm gate to the products they eat and use everyday, they will learn the ins and outs of agriculture one station at a time. And now it will be on REAL working farms!

Agriculture in the Classroom-MB Inc. is celebrating its tenth year with the Amazing Agriculture Adventure, a program designed to give students a hands-on interactive experience with all aspects of agriculture. From September 15th to 17th, the ten year celebration in Winnipeg will be all that more amazing with the event being held between two new venues: Richardson’s Kelburn Farm and the University of Manitoba’s Faculty of Agricultural and Food Sciences’ Glenlea Research Station.

“Agriculture in the Classroom – Manitoba is dedicated to cultivating an interest in agriculture, and the Amazing Agriculture Adventure is one of our most critical programs. We are thrilled to be partnering with Richardson International Ltd. and The Faculty of Agricultural and Food Sciences to offer a real farm experience to the students.” says executive director Johanne Ross. “We enjoy engaging students through interactive, hands-on experiences that get them up close and personal with agriculture. With the use of these two working farms, students will be more engaged than ever before and have the opportunity to feel that they have actually been on and experienced true working farms!”

Over 1000 amazing students will be going on this agriculture adventure September 15th through the 17th. Students will work their way through 18 interactive stations at the two venues to learn about the many different aspects of agriculture. From crushing canola, to the inner workings of a combine and the difference between meat and milk producing cattle, the students will get their minds full and their hands dirty. Through strong support from the Kelburn Farm and Gleanlea Research Station, the Amazing Agriculture Adventure is a fun and interactive field trip for grade 4 and 5 students to learn more about the agriculture community.

In celebrating ten years of the Amazing Agriculture Adventure, AITC-M will make a special announcement on Wednesday, September 16th at 2:30PM at Kelburn Farm. Birthday cake and memories from the last ten years will be shared at this time. Media is encouraged to attend.

“AITC-M’s Board of Directors is proud of the Amazing Agriculture Adventure as it has become a flagship program over the last ten years.” Stated AITC-M president Scott Van Alstyne. “What a great way to celebrate this achievement with our volunteers, members and partners coupled with an announcement that will recognize agriculture literacy in education.”

Agriculture in the Classroom- Manitoba Inc. is a non-profit organization supported by individuals and the agriculture industry. The organization runs several programs throughout the year including the Amazing Agriculture Adventure, the Made in Manitoba Breakfast program, farm tours and other special events. AITC-M also develops and distributes teacher resources to help deliver agriculture information for use within the school curriculum.
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Media is invited to attend this event. Please contact us to make arrangements.

For more information, please contact:

Johanne Ross
Executive Director
Agriculture in the Classroom-Manitoba Inc.
(866) 487-4029
(204) 867-0437 (cell)
johanne@aitc.mb.ca www.aitc.mb.ca

Spring/Summer 2009 Reporter

Fri, 03 Jul 2009 11:35:10 GMT

Click here to view the Spring/Summer 2009 Reporter.

Richardson Foundation funds Sustainable Land Use Centres

Fri, 26 Jun 2009 17:21:52 GMT

$1 million donation to DUC supports new extension sites for landowners

Oak Hammock Marsh, Man. – The Richardson Foundation recently presented Ducks Unlimited Canada (DUC) with a major donation of $1 million in support of DUC’s conservation programs. Part of this gift will be used to outfit two sites in Manitoba and one in Saskatchewan with a variety of Beneficial Management Practices (BMPs). These BMPs will demonstrate how profitable business ventures like commercial agriculture and resource extraction can be complementary with maintaining healthy habitats for wildlife and people.

BMPs are on-farm practices that help producers mitigate risks to the environment while allowing them to achieve their economic goals.

“This is a very important partnership. Our organizations have a long history of working together for the common goal of conserving wetlands and associated habitats,” said Neil Downey, Chairman of the Board for DUC. “We’re delighted that our partnership will continue to create healthy prairie landscapes for the benefit of both waterfowl and the people who live there.”

The three sites are at Kelburn Farm south of Winnipeg and in the Virden, Man. and Yorkton, Sask. areas. The Kelburn and Yorkton sites are provided by Richardson International Limited while the Virden site is located at a Tundra Oil & Gas Limited drilling site. Both are subsidiaries of James Richardson & Sons, Limited companies.

“Sharing these practical BMPs with farm landowners and others so they can adopt them in their own operations is critical if Canada is to develop its resources sustainably, while at the same time conserving its wetlands and other natural features,” said Bob Grant, DUC’s Manitoba manager of operations. “Wetlands not only provide feeding and nesting sites for waterfowl and many other species, they also reduce the impacts of floods and droughts, filter water and store greenhouse gases that can otherwise add to climate change.”

“We are very pleased to be a part of this rural partnership,” said Curt Vossen, Richardson International President. “Aside from our financial support for the conservation work being done, we are even more proud of the fact that personnel from our companies will be actively involved in environmental stewardship through a true working partnership with Ducks Unlimited Canada.”

The agricultural Sustainable Land Use Centre sites in Yorkton and Kelburn will serve to demonstrate to primary producers and the agronomists who advise them how to improve their own environmental stewardship. Those farmers who are seeking solutions to environmental deficiencies on their farms can visit a Land Use Centre to observe tangible demonstrations of how good environmental stewardship practices can be applied on their farms. In addition, those not directly connected to agriculture will be exposed to food sources and how agricultural production systems contribute to a healthy environment.

The oil and gas extraction site near Virden will serve to demonstrate how the environment can be preserved while developing natural resources. Landowners in the area will better understand how habitat protection tools such as Conservation Agreements can benefit their operation without foregoing their opportunities to capitalize on oil and gas reserves located on their property.

Aside from the Sustainable Land Use Centres, Richardson International’s contribution also supports a Conservation Easement program in DUC’s priority areas of western Manitoba and southeastern Saskatchewan that will protect thousands of at-risk wetlands and associated uplands in perpetuity. As well, Richardson International is supporting a research project about understanding social and economic constraints to the adoption of conservation practices and policies by governments and landowners, to help DUC and other groups determine how landowners and policymakers can best adopt environmentally sustainable practices.

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Ducks Unlimited Canada is a private, non-profit organization that conserves, restores and manages wetlands and associated habitats for waterfowl. These habitats also benefit other wildlife and people.

For more information, contact:

Karli Reimer
National Communications Coordinator
Ducks Unlimited Canada
Phone: 204-467-3279
E-mail: k_reimer@ducks.ca

Jean-Marc Ruest
Vice President, Corporate Affairs and General Counsel
Richardson International Limited
Phone: 204.934.5488
E-mail: jean-marc.ruest@richardson.ca

New Richardson Ag-grow-land Exhibit Unveiled

Thu, 18 Jun 2009 14:37:07 GMT

(Winnipeg, Wednesday, June 17th, 2009) The Saskatchewan Science Centre is proud to announce the opening of Richardson Ag-grow-land, a magnificent new permanent exhibit showcasing agriculture in Saskatchewan.

Richardson Ag-grow-land highlights current farm practices, celebrates the science and cutting edge tools of modern day agriculture in Saskatchewan, and demonstrates the influence that Saskatchewan’s agriculture industry has around the world.

“While agriculture has always been a fundamental part of life in Saskatchewan and a pillar of its economy, it is not always well understood,” Richardson International Limited President Curt Vossen said. “Richardson International Limited saw Ag-grow-land as the perfect opportunity to introduce children to modern agriculture in a dynamic and fun environment. In doing so, we ensure that future generations will continue to appreciate and support agriculture in Saskatchewan. We are also proud of the fact that this project came about through the leadership of agriculturally based corporations with support from the public sector.”

The Saskatchewan Science Centre’s mascot, Discovery Jones, and his dog, Tungsten, take you on a tour of the agriculture industry in Saskatchewan. From driving a combine to shipping lentils to India, this interactive and exhilarating exhibit shows how high-tech agriculture has become.

“Agriculture is such an important part of our province, and vital to our future success,” Agriculture Minister Bob Bjornerud said. “The Government of Saskatchewan is pleased to be a sponsor of Ag-grow-land and give kids hands-on experience in one of our major industries.”

Kids can climb to the top of a soaring inland terminal and distribute the grain that comes from the land of living sky. Hop across the mountains and enter a port on the west coast to load your grain from a train into a port terminal. Then load it on to a cargo ship and take the product to markets around the world. Drive a combine and experience harvest on a beautiful autumn day. Load grain trucks, learn about soils and crops, watch a calf being born, play the market, and look at micro-organisms—it’s all in a day’s work at Richardson Ag-grow-land.

Everything is kid-sized, scaled down and made more fun in this 2000-square-foot exhibit, an entertaining way to introduce kids to an important part of the Saskatchewan economy and the science behind it.

“Showcasing Saskatchewan industries and innovations is a priority for the Saskatchewan Science Centre,” Saskatchewan Science Centre Board of Directors Chair Bruce Crouter said. “We’re thrilled to have this group of agricultural leaders join us in building this exhibit.”

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About Richardson International Limited
Richardson International Limited, a subsidiary of James Richardson & Sons, Limited, is the largest privately owned Canadian agribusiness. It handles all major grains, oilseeds, and special crops and sells crop inputs and related services through ag business centres throughout Canada. Richardson International Limited, which has over 1,400 employees, is also actively involved in food processing through its subsidiary Richardson Oilseed Limited.

About the Saskatchewan Science Centre
The Saskatchewan Science Centre is a non-profit, non-governmental educational facility with the mission of igniting scientific curiosity and innovation in Saskatchewan communities through interactive, dynamic and engaging opportunities. Our vision of the future, in fulfilling that mission, is inspired minds through science and innovation. The Science Centre is one of Saskatchewan’s largest family tourist attractions with close to 4 million visitors since its opening in 1989.

For more information please contact:

Jean-Marc Ruest
Vice-President, Corporate Affairs and General Counsel
Richardson International Limited
Telephone: (204) 934-5488
Jean-Marc.Ruest@richardson.ca
www.richardson.ca

Collette Parks
Manager of Marketing & Communications
Saskatchewan Science Centre
Telephone: (306) 791-7917
cparks@sasksciencecentre.com
www.sasksciencecentre.com

Jenna Webb
Media Relations Consultant
Saskatchewan Ministry of Agriculture
Telephone: (306) 787-2359
jenna.webb@gov.sk.ca
www.agriculture.gov.sk.ca

RICHARDSON INVESTS $12 MILLION

Thu, 28 May 2009 15:09:01 GMT

Expanding Front End of Company's Grain-Handling Network

Winnipeg, Manitoba, May 26, 2009 – To further increase capacity on the front end of its grain-handling network and to meet the needs of its customers, Richardson International Limited (“Richardson”) has committed to invest $12 million to expand four of its Ag Business Centres in Saskatchewan and Manitoba.

“We fully understand the importance of growing and evolving to meet the demands of the customers we serve today as well as to proactively plan for the needs of growers in the future,” says Curt Vossen, President of Richardson.

“This new project is the latest in a series of significant investments we have made to expand and improve our operations from grain sourcing through to canola oil processing. It solidifies Richardson’s ongoing commitment to develop the most efficient pipeline of grain movement in Western Canada, which is essential in helping us bring agriculture full circle.”

The 2009 expansion of the grain storage, rail car capacity and fertilizer service at four western facilities includes:

Brandon, MB – Double current grain storage capacity to 20,500 metric tonnes and expand rail car capacity to accommodate a 112-car unit train.

Swift Current, SK – Increase grain storage capacity to 30,000 metric tonnes and expand rail car capacity to accommodate a 112-car unit train.

Crooked River, SK – Upgrades to rail car capacity to accommodate a 104-car unit train.

Whitewood, SK – Expansion of fertilizer shed to 4,800 metric tonnes (6X current capacity).

Richardson previously invested $40 million in 2008 to expand 16 of its facilities in Alberta, Saskatchewan, Manitoba and Ontario after increasing its grain-handling capacity by 50 per cent through acquisitions made in 2007. Upon completion of the above-listed expansion in 2009, a total of 30 Richardson Ag Business Centres will be capable of loading 100-car unit or more trains.

About Richardson International Limited
Richardson International Limited, a subsidiary of James Richardson & Sons, Limited, is the largest privately-owned Canadian agribusiness. It handles all major grains, oilseeds, and special crops and sells crop inputs and related services through farm service centres throughout Canada. Richardson International Limited, which has 1,400 employees, is also actively involved in food processing through its subsidiary Richardson Oilseed Limited.

For further information, please contact:
Jean-Marc Ruest
Vice-President, Corporate Affairs and General Counsel
Telephone: 204.934.5488
Email: Jean-Marc.Ruest@richardson.ca

RICHARDSON’S BRIAN HELLEGARDS

Tue, 10 Mar 2009 13:42:09 GMT

2008 CERTIFIED CROP ADVISER OF THE YEAR

Winnipeg, Manitoba, March 4, 2009 – The Canadian Fertilizer Institute (“CFI”) has chosen Brian Hellegards,P.Ag., of Richardson International Limited (“Richardson”) as the Prairie Provinces’ Certified Crop Adviser (“CCA”) of the year for 2008.

As Richardson’s Manager, Kelburn Farm and Agronomy, Hellegards oversees the company’s 500-acre research and crop development centre, located 18 kilometres south of Winnipeg.

“We believe knowledge is key to the future of agriculture, and Brian is a highly-respected professional who relies on a combination of agronomic acumen, field experience and instinct to make sound decisions capable of impacting our company and influencing our industry,” says Richardson’s President Curt Vossen. “By keeping a hand in the soil and an ear to the ground, Brian has not only become a reliable source of information and atrusted consultant, but an integral part of Richardson’s ongoing success through innovation.”

Hellegards’ main focus is agronomic research that benefits Prairie producers. Working closely with industry partners, Hellegards utilizes Kelburn Farm to duplicate actual growing conditions in order to develop and demonstrate new products and practices that will enhance future production. In addition, Hellegards has been invaluable in promoting Kelburn as an education and training centre. He leads farm tours, hosts numerous customers, agronomists, researchers and guests throughout the year and helps introduce urban schoolchildren to the importance of agriculture through the Manitoba Canola Growers Association’s Canola Learning Centre.

Hellegards grew up on a farm in Holland, Manitoba, attended the Faculty of Agricultural & Food Sciences at the University of Manitoba an holds a Professional Agrologist (P.Ag.) designation. He gained a wide range of experience as a farm labourer as well as in positions with Dow Agro Sciences and Agricore United before being hired by Richardson to manage Kelburn Farm in 2002. Hellegards was promoted to Manager, Kelburn Farm and Agronomy in January, 2007. Today, he continues his professional development by attending educational conferences and workshops and in turn, welcomes the opportunity to share his skills and knowledge with others.

The CCA program is a professional certification designed to build the skills of individuals working in the crop production, fertilizer, soil conservation and pest management industry through continuing education. Administered by provincial, state and regional boards across North America, there are over 1,200 CCAs in Canada and more than 14,000 in North America.

CFI is an industry association representing manufacturers and wholesale and retail distributors of nitrogen, phosphate, potash and sulphur fertilizers. CFI has been a proud sponsor of the CCA program for over a decade.

About Richardson International Limited
Richardson International Limited, a subsidiary of James Richardson & Sons, Limited, is the largest privatelyowned Canadian agribusiness. It handles all major grains, oilseeds, and special crops and sells crop inputs and related services through farm service centres throughout Canada. Richardson International Limited, which has 1,400 employees, is also actively involved in food processing through its subsidiary Richardson Oilseed Limited.

For further information, please contact:
Jean-Marc Ruest
Vice-President, Corporate Affairs and General Counsel
Telephone: 204.934.5488
Email: Jean-Marc.Ruest@richardson.ca

Richardson International

Thu, 12 Feb 2009 21:52:39 GMT

Sets Vessel Loading Record

January 20, 2009

Vancouver, British Columbia – Richardson International Limited (“Richardson”) announced today the successful loading of more than 65,500 metric tonnes of Canola on board a single vessel from its Vancouver terminal. In doing so, Richardson set a record for volume of canola loaded aboard a vessel in the Port of Vancouver. The Medi Sentosa, a vessel bound for United Arab Emirates was loaded in a seven-day period, from January 8th to January 15th. The previous record, 65,250 metric tonnes, was also set by Richardson in 2008.

The magnitude of the feat is made even more impressive by the speed with which the Medi Sentosa was loaded from a single berth, notwithstanding adverse weather conditions. Darwin Sobkow, Richardson Vice-President Agribusiness Operations, commended the effort of Richardson’s personnel. “This type of result depends on great team effort. I am extremely proud of our Vancouver terminal staff and management who worked very hard to load the Medi Sentosa. I am also very pleased with the ability of our primary elevator staff and our logistics department who were able to move the canola from all parts of Western Canada to Vancouver, despite glacial weather throughout the Prairies. This exemplifies the quality of our staff, the potential of our facility and the efficiency of our operations.”

Richardson’s President, Curt Vossen, believes the company’s recent growth, through the addition and expansion of several grain handling facilities, was an important factor in the Vancouver terminal’s record-setting execution. “The expansion of our grain handling network by more than 50% since 2007 provides us with a greater ability to source grain from all areas of Western Canada and to position it at our terminals in time to suit our customers’ needs. Reliable shipping also allows us to develop new marketplaces for Canadian commodities, including United Arab Emirates.” Vossen adds that efficient execution of grain transportation logistics benefits all stakeholders: producers who can sell and deliver greater quantities of grain in a timely fashion; grain companies who can execute a greater number of sales; end-use customers who can rely on a trustworthy supply of Canadian agricultural commodities; and the Port of Vancouver which benefits from reduced congestion within its waters.”

The Medi Sentosa is expected to arrive in Jebel Ali, United Arab Emirates by mid-February, 2009.

About Richardson International Limited

Richardson International Limited, a subsidiary of James Richardson & Sons, Limited, is the largest privately-owned Canadian agribusiness. It handles all major grains, oilseeds, and special crops and sells crop inputs and related services through farm service centres throughout Canada. Richardson International Limited, which has 1,400 employees, is also actively involved in food processing through its subsidiary Richardson Oilseed Limited.

FOR FURTHER INFORMATION PLEASE CONTACT:

Jean-Marc Ruest
Vice-President, Corporate Affairs and General Counsel
Telephone: 204.934.5488
Email: Jean-Marc.Ruest@richardson.ca

Platinum Communications Teams Up with Richardson International

Wed, 28 Jan 2009 16:04:58 GMT

Platinum Communications teams up with Richardson International

Calgary, Alberta, January 22, 2009 - Platinum Communication Corporation (TSX-V: PCS)
is pleased to announce a strategic partnership with Richardson International Limited. Richardson is one of Canada's largest integrated agriculture organizations and is headquartered in Winnipeg, Manitoba. Richardson recently selected Platinum as their primary Internet Provider to service their expansive Alberta Wide Area Network. After evaluating a number of competitive providers, Richardson selected Platinum to improve the performance, reliability and overall Total Cost of Ownership of their Alberta Wide Area Network.

Paul Beaudry, Richardson's Asst. VP of Technical Services, noted, "We are pleased to say that Platinum has played and will continue to play an integral role in the ongoing growth of our Wide Area Network strategy. Since partnering with Platinum, we have enjoyed Platinum's excellent network performance and reliability, technical expertise, cost value and responsiveness."

"Our evolving partnership with Richardson allows Platinum to extend our network to new areas of Alberta, where internet access is limited or unavailable," noted Robert Matheson, Platinum's CEO. "Both residential and commercial customers will now have access to high capacity broadband services, which enhances Platinum's overall market position in rural Alberta."

About Richarson International

Richardson International is renowned as a leader in the agriculture and food industry and offers a world of expertise in grain handling, merchandising, logistics, crop inputs sales as well as oilseed processing and food service packaging. As one of Canada's largest integrated agriculture organizations, Richardson is able to provide producers with everything they need to thrive in today's demanding marketplace and serve as customers' premier point of contact for Canadian grains and oilseeds. See www.richardson.ca for more details.

About Platinum Communications

Platinum Communications Corporation (TSX-V: PCS) provides superior quality and affordable high-speed wireless Internet service to both urban and rural communities often overlooked by traditional Internet service providers. In addition to expanding its customer base through growth and acquisitions, Platinum has commenced leveraging its existing wireless infrastructure by delivering additional IP based services to its customer base. See www.platinum.ca for more details.

This news release may contain forward-looking statements. These forward-looking statements do not guarantee future events or performance and should not be relied upon. Actual outcomes may differ materially due to any number of factors and uncertainties, many of which are beyond Platinum’s control. Some of these risks and uncertainties may be described in Platinum’s corporate filings (posted at www.sedar.com). Platinum has no intention or obligation to update or revise any forward looking statements due to new information or events.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
For further information please visit our web site at www.platinum.ca.

Robert Matheson
CEO, Platinum Communications
Tel: 403.301.4591

or

Paul Beaudry
AVP, Technical Services, MIS, Richardson International Limited
Tel: 204.934.5274

Richardson Donates to Baldur Minor Hockey

Wed, 14 Jan 2009 20:49:31 GMT

Baldur Minor Hockey Fundraising Campaign Boosted by Generous Grant

by Janet Fowler
Freelance Writer

December 10, 2008 - Baldur Glenboro Gazette

Baldur Minor Hockey received a most generous grant from Richardson International Limited, parent company of Richardson Pioneer. Last Tuesday at Mary’s Place, Bruce Sobkow of Richardson’s Community Relations Foundation presented Minor Hockey Chair Lana Grenier with a cheque for $8000.00 to defray the full costs of plexiglas, safety netting and a sound system for Baldur Arena. Mr. Sobkow was accompanied by Doug McArhur of Richardson Pioneer and Brad Cullen of TriLake Agri. Grenier said she was astounded by the generosity of the Foundation as she was prepared for much less.

When Denise Martens’ letter reached Richardson International Community Relations Foundation it was first presented to the Foundation Board for its approval of the grant. After passing successfully through this step, the letter was submitted to the Richardson family for final approval before the cheque was written. It is interesting to note the Richardson family maintains a personal interest in the works of the Foundation and the communities it supports. Before he entered the grain business, storied patriarch James A. Richardson was a pioneer bush pilot in Northern Manitoba and founded his own airline, initiating an entrepreneurial history which ultimately led to the naming of Winnipeg’s airport as Richardson International. The Richardson Family has shared its success over the decades by generously supporting a broad range of causes in Manitoba.

Baldur Minor Hockey has been fundraising for this major upgrade since the fall. Lana Grenier says they have also received a fantastic response from the community. Grenier and Treasurer Denise Martens sent letters out and advertised to the community at large and fortunately Martens sent the letter to Richardson International. Donations arrived from a wide range of people: not only families with hockey kids, but generous individuals and businesses with only a desire to support kids hockey and help the community arena, the centerpiece of winter life in rural Manitoba.

A team of volunteers removed the plexiglas from the old Killarney Arena in only one evening with the assistance of a scissor lift. While the installation takes a bit longer, it got the project off to a great start. With the blessing of Bruce Sobkow of Richardson International, Baldur Minor Hockey will now use the proceeds of community fundraising to make other upgrades to the arena.

First on the list of possible projects is improvement to the viewing area to the ice. Currently, watching a hockey game is not all that comfortable and the plan would be to install new windows and possibly bleachers in the curling clubroom facing the arena. Future improvements might be to install 5 foot, to the floor, windows upstairs with collapsible bleachers. Baldur Minor Hockey will meet with the rink committee to discuss the best options. As for community fundraising here are the results to date: Baldur Minor Hockey kicked off the fund with $3000; the hockey draft made $750; Halloween Social $625; the Endowment Fund contributed $500; community donations $1977 to a total of $6852. Future fundraisers are planned. A Christmas Hockey Day is planned for Saturday, December 27th, and a Meat Draw is booked for Friday, February 6. Grenier says she expects to come close to the original $8000 goal. Baldur Arena and the community will benefit times two, thanks to the community & Richardson International.

Richardson Spends $40 Million to Expand 16 Facilities in 2008

Thu, 30 Oct 2008 19:05:49 GMT

October 30, 2008

Winnipeg, Manitoba – In 2007, Richardson International Limited (“Richardson”) increased its grain handling capacity by more than 50% through the acquisition of facilities previously owned by Agricore United. Not being a company to be satisfied with the “status quo”, in 2008, Richardson committed $40 million to expansions at 16 facilities located throughout Alberta, Saskatchewan, Manitoba and Ontario.

“We had very ambitious plans for our facilities in 2008 and, with most of the construction complete, are very pleased with the results,” says Curt Vossen, President of Richardson. “Our customers can be assured that we will continue to invest in our business and are committed to providing them with world-class facilities to service their needs now and in the future.”

Vossen adds that without the efforts of Richardson personnel, an undertaking of this magnitude would not be possible. “Our people are our most valuable asset at Richardson and without everyone working together we would not be able to grow our network so successfully and at such a rapid pace.”

Of the 16 projects slated for 2008, nine are complete and the remaining seven are all on schedule to be finished by year-end. When completed, together these expansions will add nearly 90,000 metric tonnes of storage to Richardson’s grain handling system, increase the
number of 100-plus car loading sites from 20 to 27 and introduce three more fertilizer storage, blending and distribution facilities to the Richardson network.

Further expansions for 2009 are currently in the planning stage and will be announced early next year.

About Richardson International Limited

One of Canada’s leading grain and oilseed handling firms, Richardson International is an industry leader in the areas of grain handling, merchandising, logistics, crop inputs sales as well as oilseed processing and food service packaging. The largest subsidiary of James Richardson & Sons, Limited, the company provides an influential global presence for Canadian producers and remains committed to meeting the needs of a growing world.

For more information, please contact:
Jean-Marc Ruest
Vice-President, Corporate Affairs and General Counsel
Telephone: 204.934.5488
E-mail: jean-marc.ruest@richardson.ca

STATUS OF NETWORK EXPANSION PLANS FOR 2008

Alberta

Carseland 13,500 metric tonne storage expansion – COMPLETE

Dunmore 11,160 metric tonne storage expansion and rail car spot expansion to 112 car capacity – TO BE COMPLETED IN DECEMBER 2008

Lamont 10,000 metric tonnes storage expansion – COMPLETE

Legacy Junction Construction of 19,000 metric tonne fertilizer storage, blending and distribution facility – TO BE COMPLETED IN NOVEMBER 2008

Stirling Rail car spot expansion to 112 car capacity - COMPLETE

Saskatchewan

Canora 10,000 metric tonne storage expansion and rail car spot expansion to 104 car capacity – TO BE COMPLETED IN NOVEMBER 2008

Carlton Crossing 10,000 metric tonne storage expansion – TO BE COMPLETED IN NOVEMBER 2008

Dixon 10,000 metric tonne storage expansion – TO BE COMPLETED IN DECEMBER 2008

Reed Lake Rail car spot expansion to 112 car capacity – TO BE COMPLETED IN NOVEMBER 2008

Yorkton Construction of 4,000 metric tonne fertilizer storage building and blender – COMPLETE

Manitoba

Dundonald Rail car spot expansion to 112 car capacity - COMPLETE

Minnedosa Construction of 1,000 metric tonne fertilizer storage and blender – TO BE COMPLETED IN NOVEMBER 2008

Mollard 10,000 metric tonne storage expansion – COMPLETE

Shoal Lake Rail car spot expansion to 112 car capacity – COMPLETE

Starbuck Rail car spot expansion to 112 car capacity - COMPLETE

Ontario

Hamilton 15,000 metric tonne storage expansion – COMPLETE

JAMES RICHARDSON INTERNATIONAL

Wed, 23 Jul 2008 20:18:44 GMT

July 23, 2008

Winnipeg, Manitoba – James Richardson International Limited (“JRI”) and Bell Barn Society of Indian Head (“Bell Barn Society”) are pleased to announce that JRI will be a Patron Circle supporter of the reconstruction of the Bell Farm Barn, located two kilometres north of Indian Head, Saskatchewan.JRI’s donation will support the reconstruction of the barn and development of the yard site into an interpretive centre for Western Canadian Agriculture.

The Bell Farm Barn, built in 1882, is Saskatchewan’s oldest major agricultural structure and in 2006 was listed as one of Canada’s top ten endangered places by Heritage Canada. Named after Major William Bell, the barn is the only structure remaining on the original farmyard where Major Bell and the Qu’Appelle Valley Farming Company established the first corporate farm in Saskatchewan.

“We are proud to be a part of preserving the heritage of agriculture in Canada,” says JRI President Curt Vossen. “Having been in business for over 150 years, we understand the importance of preserving the past not only for the historical value, but for future generations of Canadians.”

“The gift of $50,000.00 by JRI is a tremendous boost to our fundraising efforts,” says Maurice Delage, Chairman of the Fundraising Committee for Bell Barn Society. “We are hopeful that with JRI on board, other grain companies are encouraged to step forward and support our project.”

There is also the possibility that JRI’s donation will increase to $100,000.00. In addition to its initial commitment of $50,000.00, JRI will donate fifty cents for every dollar pledged by other grain companies doing business in Saskatchewan, to a maximum of $50,000.00.
Vossen adds, “We are confident that once others are aware of the importance of this project and the significance of Major Bell and the Bell Farm Barn to the original establishment of agriculture in Western Canada, they will accept our challenge and donate at the Patron Circle level.”

Site preparation was completed in Fall 2007. The overall cost of the project is estimated at $1,000,000 and is scheduled for completion in the summer of 2009.

About James Richardson International Limited
JRI, a subsidiary of James Richardson & Sons, Limited, is the largest privately-owned Canadian agribusiness. It handles all major grains, oilseeds, and special crops and sells crop inputs and related services through farm service centres throughout Canada. JRI, which has 1,300 employees, is also actively involved in food processing through its subsidiary Canbra Foods Ltd.

About Bell Barn Society of Indian Head
The Bell Barn Society of Indian Head was established as a non-profit corporation in November 2006 to save the Bell Farm Barn from certain demise. To date, the Bell Barn Society has raised $260,000.00 in their efforts to preserve this important, historical site.

FOR FURTHER INFORMATION PLEASE CONTACT:
Jean-Marc Ruest
Vice-President, Corporate Affairs and General Counsel
James Richardson International Limited
Telephone: (204) 934-5488
Email: Jean-Marc.Ruest@jri.ca

Maurice Delage
Chairman, Fundraising Committee
Bell Barn Society of Indian Head
Telephone: (306) 695-3959
Email: maurice@delagefarms.ca

JAMES RICHARDSON INTERNATIONAL

Tue, 15 Jul 2008 14:12:49 GMT

YORKTON, July 15 2008…. The Canadian Curling Association today announced that James Richardson International (JRI) will be the Presenting Sponsor for the 2009 Canada Cup of Curling in Yorkton, Saskatchewan.

The Canada Cup will be staged March 18-22, 2009 at the Farrell Agencies Arena in the Gallagher Centre and will be one of the last events to qualify teams for the 2009 Tim Hortons Canadian Curling Trials, December 6-13 in Edmonton, which will determine Canada’s representatives for the 2010 Olympic Winter Games in Vancouver.

The Canada Cup winners become part of a pool of 16 men’s and 16 women’s teams eligible for either a berth directly into the Trials or a berth into the pre-Trials qualifier, November 10-15 in Prince George, British Columbia.

Winnipeg-based JRI, the largest subsidiary of James Richardson & Sons, Limited, operates Canada’s largest, privately-owned network of high-throughput elevators and high-efficiency port terminals. It is a recognized agribusiness market leader in grain handling, merchandising, crop inputs sales/services and canola oil processing/packaging.

“James Richardson International is pleased to be the presenting sponsor of the 2009 Canada Cup,” said Kevin Jacobson, Director, Business Development, JRI. “We’re confident that the host committee and the City of Yorkton will stage a very successful event. Being a proud Canadian company with a history that spans more than 150 years of achievement, we at JRI know that agriculture and curling are both significant components of our communities. Today, we continue to build on our tradition by becoming involved in a very important competition in one of Canada’s most popular sports.”

Ten men’s and 10 women’s teams will compete in the 2009 Canada Cup, presented by JRl, with the winners receiving berths into the Trials pool, in addition to earning $25,000 in prize money. Already qualified for the Cup are reigning world champions Jennifer Jones of Winnipeg and Kevin Martin of Edmonton, along with 2008 Strauss Canada Cup winners Kevin Koe of Edmonton, and Stefanie Lawton of Saskatoon.

As the official broadcaster for the Canadian Curling Association’s Season of Champions, TSN will air 14 hours of Canada Cup coverage, including the women’s and men’s finals on Sunday, March 22.

The Canada Cup has consistently attracted Trials-calibre fields since it began in 2003 in Kamloops, British Columbia. Edmonton’s Randy Ferbey has won three Cups, while Kevin Martin has taken two. Other women’s winners are Sherry Middaugh, Colleen Jones, Shannon Kleibrink, Cathy King and Jennifer Jones.

Tickets for the 2009 Canada Cup are available online at Ticketmaster.ca, by calling the Ticketmaster Sports Line at 306-938-7800 (toll free 1-800-970-7328) or at the Gallagher Centre Box Office.

For further event information, visit seasonofchampions.ca.

Gord McNabb
Event Coordinator
2009 Canada Cup
gmcnabb@curling.ca

Tel: 306-586-2875
Cell: 306-737-7079
Fax: 306-586-2875

Kevin Jacobson
Director, Business Development
James Richardson International Ltd.

Office: 204-934-5169
Cell: 204-799-2838
kevin.jacobson@jri.ca
www.pioneergrain.com