Richardson to buy North East Terminal facility
March 11, 2011
by Eric Schroeder
WINNIPEG, MAN. — Richardson International Ltd. has entered an agreement to purchase the North East Terminal grain handling facility in Wadena, Sask., along with the crop input facilities at Wadena, Kelvington, Foam Lake and Ponass Lake, Sask. The transaction is subject to shareholder approval on April 6 is expected to close on April 13.
“We are extremely pleased with this opportunity and the fact that North East Terminal chose Richardson to complete this transaction,” said Curt Vossen, president of Richardson International. “We look forward to investing in this facility and adding it to our Richardson Pioneer network of elevators and crop input facilities across Western Canada. It is a great fit with our existing business. The acquisition will allow us to provide greater service to our customers in northeastern Saskatchewan. It will also support our export sales program and our new canola processing plant in Yorkton (Sask.).”
Once the transaction is finalized, Richardson said it 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.