Privately held Richardson International Limited said it will spend $40 million to add grain storage and farm input facilities in Western Canada, continuing an aggressive expansion in the wheat and canola region.
The new projects come after Richardson completed this year the $900-million purchase of numerous Viterra grain-handling and -processing sites, linked to Glencore Xstrata PLC’s takeover of Viterra in 2012.
Richardson, now one of the two biggest western Canadian grain handlers with Viterra, said June 10 it will add 14,000 tonnes of grain storage capacity to each of its country elevators at Carseland, Alta., Crooked River, Sask., and Shoal Lake, Man.
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The Winnipeg-based company will build more fertilizer storage space plus blenders and storage warehouses for chemicals and seed at four country elevators previously owned by Viterra. The facilities are at Stony Mountain and Letellier, Man., Kindersley, Sask., and Lacombe, Alta.
Richardson will also build a 35,000-tonne fertilizer distribution centre at Saskatoon, Sask., and add fertilizer blenders to its locations in Oyen and Magrath, Alta.; Kamsack, Saskatoon and Shellbrook, Sask.; and Shoal Lake, Man.
Richardson chief executive Curt Vossen told Reuters recently that the company is too large to grow much more in Western Canada through acquisitions and would look for opportunities in the United States.
The company has already announced it will spend $120 million to expand its Vancouver, British Columbia, grain terminal and is boosting its canola-processing capacity at its two plants.
