WINNIPEG, MANITOBA, CANADA — Richardson International Limited announced on June 10 that it is investing C$40 million to further enhance its Richardson Pioneer network of grain handling and crop input centers across Western Canada. This investment includes increased grain storage, high-speed fertilizer blenders, a fertilizer distribution center and the creation of four new crop input locations.
This is the latest in a series of significant investments Richardson has made to expand its operations across the country. On May 1, the company acquired 19 grain elevators, 13 crop input centers, an export terminal in Thunder Bay and Viterra’s oat and wheat milling business. In April, Richardson announced it is investing C$120 million to expand its grain terminal in Vancouver. Richardson is currently increasing capacity at its canola processing facility in Yorkton by 25% and also recently announced plans to expand its canola processing facility in Lethbridge.
“We are always looking for opportunities to expand and diversify our business,” said Curt Vossen, president and chief executive officer of Richardson International. “We are proud to be celebrating a century of growth with the 100th anniversary of Richardson Pioneer in 2013 and we will continue to grow into the future to meet the needs of our customers at home and around the world.”
In 2013, Richardson plans to add 14,000 tonnes of storage capacity to each of its elevators in Carseland, Alberta; Crooked River, Saskatoon; and Shoal Lake, Manitoba, increasing capacity at these facilities between 54% and 68%. Since 2007, Richardson has been focused on increasing storage capacity at its Richardson Pioneer grain facilities and 18 have been completed since that time.
Richardson is also further investing in its crop inputs business. Four former Viterra grain elevators - South Lakes (Stony Mountain) and Red River South (Letellier), Manitoba, Kindersley, Saskatoon and Lacombe, Alberta - will each receive high speed blenders, fertilizer storage and a 6,000-square-foot chemical and seed warehouse to become full-service crop input centers.
Richardson is building a 35,000-tonne fertilizer distribution center at Carlton Crossing (Saskatoon), Saskatoon. The company is also adding six high-speed fertilizer blenders at its Richardson Pioneer locations in Oyen and Magrath, Alberta; Kamsack, Saskatoon; and Shellbrook, Saskatoon; and Shoal Lake, Manitoba.
“We continue to make investments to better serve our current and future customers. We look to provide efficiencies by having fully integrated grain handling and crop inputs businesses and being a multiple-service provider,” said Darwin Sobkow, executive vice-president, agribusiness operations. “Richardson is proudly Canadian and we are working to be the business partner of choice for Prairie farmers.”
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