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RICHARDSON PLANS NEW HIGH THROUGHPUT GRAIN ELEVATOR AT DAUPHIN

WINNIPEG, Manitoba, Dec. 11, 2014 (GLOBE NEWSWIRE) -- Richardson International Limited is pleased to announce plans to build a new high throughput grain elevator to replace its current facility in Dauphin, Manitoba. The new Richardson Pioneer elevator will have a total of 25,000 metric tonnes of storage for grains and oilseeds.

"The Dauphin area is an important market for us and we have a solid, loyal customer base there," says Darwin Sobkow, Executive Vice-President, Agribusiness Operations and Processing. "This shows our long-term commitment to the area and ensures our ability to continue to serve our customers."

The new elevator will include 10,000 metric tonnes of storage space and will replace the 5,750 metric tonne wooden crib elevator currently on the site. The build will incorporate 15,000 metric tonnes of existing steel bin storage, upgrading the receiving and shipping speed to match that of the new elevator. It also includes a high capacity grain dryer, cleaner and 104-car spot.

Construction of the new elevator will begin in April 2015. The project will take approximately 16 months and is expected to be complete in August 2016. Richardson will build a temporary receiving and shipping system at the Dauphin site to provide customers with a continued delivery option over the 16-month construction period.
Richardson acquired the Dauphin elevator in 2007 from Agricore United with the intention to upgrade and enhance the facility as part of a continued, long-term investment in its Richardson Pioneer network of facilities.

"Richardson has an ongoing, aggressive commitment to furthering our investment in agriculture in Western Canada," says Sobkow. "We will continue to enhance our business and look for new opportunities to grow to meet the needs of our customers at home and in world markets."

Richardson International is Canada's largest agribusiness and is recognized as a global leader in agriculture and food processing. Based in Winnipeg, Richardson is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds and a vertically-integrated processor and manufacturer of oats and canola-based products. One of Canada's Best Managed Companies, Richardson has over 2,500 employees across Canada and the U.S.

CONTACT: Tracey Shelton Director, Corporate Communications (204) 934-5169 or 799-2838 (cell) Tracey.Shelton@Richardson.ca

Source:Richardson International Limited