Agribusiness expands through investment

Winnipeg, Man. – Canada’s largest agribusiness company is investing a hefty sum to enhance its grain handling and crop input centres across Western Canada.

Richardson International Limited is pouring $40 million into several enhancements, which include increased grain storage, high-speed fertilizer blenders, a fertilizer distribution centre and the creation of four new crop input locations.

For Richardson, this investment is the latest in a series geared to expand the company’s operations across the country.

On May 1, the company acquired 19 grain elevators, 13 crop input centres, an export terminal in Thunder Bay, Ont., and Viterra’s oat and wheat milling business.

In April, Richardson announced it was investing $120 million to expand its grain terminal in Vancouver.

Richardson is currently increasing capacity at its canola processing facility in Yorkton, Sask. by 25 per cent and also recently announced plans to expand its canola processing facility in Lethbridge, Alta.

In 2013, Richardson plans to add 14,000 MT of storage capacity to each of its elevators in Carseland, Alta., Crooked River, Sask. and Shoal Lake, Man., increasing capacity at these facilities between 54 and 68 per cent.

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, Man., and Red River South, Letellier, Man., Kindersley, Sask. and Lacombe, Alta. – will each receive high spend blenders, fertilizer storage and a 6,000-square-foot chemical and seed warehouse to become full-service crop input centres. Richardson is building a 35,000-tonne fertilizer distribution centre at Carlton Crossing, Saskatoon, Sask. The company is also adding six high-speed fertilizer blenders at its Richardson Pioneer locations in Oyen and Magrath, Alta., Kamsack, Sask. and Shellbrook, Sask. and Shoal Lake, Man.