April 14, 2011
Richardson International Limited is pleased to announce that it has successfully purchased the North East Terminal grain handling facility in Wadena, Saskatchewan, along with the crop input facilities at Wadena, Kelvington, Foam Lake and Ponass Lake, Saskatchewan. On April 6, North East Terminal shareholders voted 92 per cent in favour of the agreement to purchase, which closed today.
“We are very excited to add North East Terminal to our Richardson Pioneer network of elevators and crop input facilities across Western Canada,” says Darwin Sobkow, Vice-President, Agribusiness Operations for Richardson. “We are pleased that a large majority of shareholders voted in favour of the sale and we look forward to investing in this facility in the near future.”
Richardson plans to invest an additional $3 million to upgrade and enhance the grain handling and crop input facilities with an aim to improving safety, increasing efficiencies and better serve customers.
“We will continue to look for opportunities to enhance the facility and look forward to providing greater service to our customers in northeastern Saskatchewan,” says Sobkow. “North East Terminal will also support our export sales program and complement our new canola processing plant in Yorkton.”
Neil Banbury, Director of Operations for Richardson Pioneer’s Nokomis facility, has been appointed Director of Operations at North East Terminal, effective immediately. Current employees at North East Terminal have been offered the opportunity to join the Richardson team, allowing customers to continue to deal with the same people at the facility.
Richardson International is Canada’s largest, privately owned agribusiness and has served farmers across the country for more than 150 years. Based in Winnipeg, Richardson has over 1,600 employees across Canada and is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds. Richardson is one of Canada’s 50 Best Managed Companies and is recognized as a global leader in agriculture and food processing.
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For more information, please contact:
Jean-Marc Ruest
Vice-President, Corporate Affairs and General Counsel
(204) 934-5488
Jean-Marc.Ruest@Richardson.ca
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