October 30, 2008 (Winnipeg, MB)
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:
Vice-President, Corporate Affairs and General Counsel
Status of network expansion plans for 2008
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
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
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
Hamilton 15,000 metric tonne storage expansion – COMPLETE