Richardson International Ltd. announced on June 10 that it plans to invest C$40 million to further enhance its Richardson Pioneer network of grain handling and crop input centers across Western Canada. The investment includes increased grain storage, high-speed fertilizer blenders, a fertilizer distribution center, and the creation of four new crop input locations.
The Winnipeg-based company reported that four former Viterra Inc. grain elevators will become full-service crop input centers with the addition of high speed blenders, fertilizer storage facilities, and 6,000-square-foot chemical and seed warehouses. The four elevators are located at Lacombe, Alberta, Kindersley, Sask., and Stony Mountain and Letellier, Manitoba.
Richardson is also building a 35,000 mt fertilizer distribution center at Carlton Crossing in Saskatoon, Sask., and will add six high-speed fertilizer blenders at its Richardson Pioneer locations in Oyen and Magrath, Alberta; Kamsack, Saskatoon, and Shellbrook, Sask.; and Shoal Lake, Manitoba.
On the grain handling side, Richardson plans this year to add 14,000 mt of storage capacity to each of its elevators in Carseland, Alberta, Crooked River, Sask., and Shoal Lake. The company said the additional storage will increase capacity by 54-68 percent, depending on the location.
This is the latest in a series of significant investments Richardson has made to expand its Canadian operations. In early May (GM May 6, p. 1) the privately-held company closed on the purchase of some $800 million of former Viterra assets from Glencore International plc, the Swiss trading and mining company that finalized its acquisition of Viterra earlier this year. These include 19 grain elevators, 13 crop input centers, an export terminal in Thunder Bay, Ont., and Viterra’s oat and wheat milling business.
In April, Richardson announced it is investing $120 million to expand its grain terminal in Vancouver. The company is also currently increasing capacity by 25 percent at its canola processing facility in Yorkton, Sask., and recently announced plans to expand its canola processing facility in Lethbridge, Alberta, as well. The company has completed 18 storage capacity expansions at its Richardson Pioneer grain facilities since 2007.
“We are always looking for opportunities to expand and diversify our business,” said Curt Vossen, president and CEO 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.”