Viterra Invests in an Australian Container Packing Facility, Broadening Its Grain Origination Capabilities
March 15 2012 - 6:30PM
Marketwired
Viterra Inc. ("Viterra") (TSX:VT) (ASX:VTA) is broadening its
Australian grain operations and origination capabilities with the
acquisition of IPS Logistics' ("IPS") container packing operation
in Narrabri, New South Wales.
"The acquisition will complement Viterra's existing grain
container operations in southern and eastern Australia," said Dean
McQueen, Viterra's Executive Manager for Grain in Australia. "These
additional assets in northern New South Wales will allow Viterra to
originate and containerize grain beyond our current footprint."
The acquired assets include 75,000 tonnes of storage, a packing
facility with the capacity to load more than 10,000 shipping
containers annually and integrated rail access to facilities at
Port Botany, the second largest container shipping port in
Australia.
Viterra currently operates grain container packing facilities at
Port Adelaide and Two Wells in South Australia, Laverton and Dooen
in Victoria and is currently constructing a container packing
facility adjacent to the Company's new malt plant near Sydney. The
newly acquired facility at Narrabri will provide access to an
additional Department of Agriculture, Fisheries and Forestry
("DAFF") Biosecurity registered establishment for export
certification container packing.
"IPS has a history of providing exemplary customer service,
which Viterra will strive to build on with our 20 years of
experience in packing grain containers in Australia and
long-standing relationships with transport providers and shipping
lines," said Mr McQueen.
The transaction is pending completion of the customary closing
requirements, including approval by the Foreign Investment Review
Board ("FIRB").
Forward-looking statements
This news release contains forward-looking statements within the
meaning of certain securities laws. We caution readers not to place
undue reliance on these statements as risk factors could cause
actual results to differ materially from expectations expressed in
these statements. For additional information on the risk and
uncertainties which could cause actual results to differ from
anticipated results, please refer to Viterra's Management
Discussion and Analysis dated January 18, 2012, which can be found
under Viterra's profile on SEDAR at www.sedar.com and on Viterra's
website at www.viterra.com.
About Viterra
Viterra provides premium quality ingredients to leading global
food manufacturers. Headquartered in Canada, the global
agri-business has operations across Canada, the United States,
Australia, New Zealand and China, as well as a growing
international presence that extends to offices in Japan, Singapore,
Vietnam, Switzerland, Italy, Ukraine, Germany, Spain and India.
Driven by an entrepreneurial spirit, Viterra operates three
distinct business segments: Grain Handling and Marketing,
Agri-products and Processing. Viterra's expertise, close
relationships with producers and superior logistical assets allow
the Company to consistently meet the needs of discerning end-use
customers, helping to fulfill nutritional needs around the
world.
Contacts: Viterra Inc. - Media Inquiries: Jane McBride
Communications Manager (Australia) +61 (0)8 8304 1368 +61 (0)448
910 886jane.mcbride@viterra.com Viterra Inc. - Media Inquiries:
Holly Gibney Manager, Media Relations (Canada) +1 403
817-1088holly.gibney@viterra.com Viterra Inc. - Investor Inquiries:
Lavonne Zdunich, CA Director, Investor Relations +1 403
718-6254lavonne.zdunich@viterra.com www.viterra.com
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