Viterra is pleased to announce its intent to build a world class canola crushing facility in Regina, Saskatchewan. The company is in the feasibility stage to finalise the plant’s capabilities and design, with an initial targeted annual crush capacity of 2.5 million metric tonnes, which would make it the world’s largest integrated canola crush facility.
“Viterra is a large global player in the oilseed crushing industry, with quality assets throughout our agriculture network,” said David Mattiske, Chief Executive Officer of Viterra. “Over the years we have made a number of strategic investments in Canada and we are excited at the potential opportunity to further enhance our processing business. We look forward to leveraging our expertise at this new state of the art facility, and connecting our customers to additional opportunities within our supply chain.”
Oilseed crush demand is expected to continue strengthening in the long term, given continued demand growth for canola oil in food usage, as well as increases in meal consumption in animal feed markets. Additionally, this plant will play a key role in supplying the feed stock required for renewable fuel production. The additional production is vital to support the Federal Government’s intended Clean Fuel Standard, which aims to help reduce Canada’s greenhouse gas emissions.
“We are pleased to have the opportunity to pursue this substantial and historic investment in our asset network, which demonstrates our confidence in the future of Western Canadian canola production, said Kyle Jeworski, CEO of Viterra North America. “Through this project, we will be able to further leverage our strong relationships with farm customers and support Saskatchewan’s growth plan for expanded value-added processing capacity. Further, this project will have a long-lasting and positive local economic impact, both in terms of employment related to the facility’s construction and permanent employment once the plant is up and running.”
Completion of this project is subject to successful negotiation and finalisation of various permits, licensing, agreements with third parties and final approvals both internally and externally. The plant is targeted to be operational in late 2024.
About Viterra
At Viterra, we believe in the power of connection. Our world-leading, fully integrated agriculture network connects producers to consumers with sustainable, traceable, and quality-controlled agricultural products. With more than 17,500 talented employees operating in 37 countries, our strategic network of storage, processing and transport assets enable us to offer innovative solutions and open pathways for our customers, creating successful partnerships that last. Together, we are stronger, and achieve more.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Jeff Cockwill
Viterra Limited
T: +1 (306) 569 6673
Email: jeff.cockwill@viterra.com
IMPORTANT NOTICE CONCERNING THIS RELEASE INCLUDING FORWARD LOOKING STATEMENTS
This release contains, or incorporates by reference, statements that are, or may be deemed to be, "forward-looking statements", which are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current predictions, expectations, beliefs, opinions, plans, objectives, goals, commitments, intentions and projections about future events, results of operations, prospects, financial condition and discussions of strategy. Forward-looking statements can be made in writing but also may be made verbally.
By their nature, forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the control of Viterra or its subsidiaries. Forward- looking statements are not guarantees of future performance and may, and often do, differ materially from actual results.
Neither Viterra nor its subsidiaries, nor any of their associates, directors, officers, employees or advisers, provides any representation, warranty, assurance or guarantee that the occurrence of any actions, events or results expressed or implied in any forward-looking statements in this release will actually be taken, occur or be achieved. You should not place, and are cautioned against placing, reliance on these forward-looking statements, which only speak as of the date of this release or of the date of the particular statement (as applicable).
Nothing in this release shall, in any jurisdiction, constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for any securities or financial instruments, nor shall it constitute a recommendation or advice in respect of any securities or other financial instruments or any other matter.