Viterra Investing in Asset Network Upgrades to Support Focus on Superior Service - Viterra Investing in Asset Network Upgrades to Support Focus on Superior Service - USA
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FOR IMMEDIATE RELEASE
November 22, 2018
Viterra Investing in Asset Network Upgrades to Support Focus on Superior Service
REGINA, SK – Viterra Inc. (“Viterra”) is pleased to announce that it intends to upgrade its grain terminals at Binscarth, MB and Stettler, AB. These investments will result in increased rail capacity, substantial expansion of storage capacity, and faster throughput.
“This significant reinvestment in our grain handling network demonstrates our ongoing commitment to operational excellence and leadership in our industry,” said Kyle Jeworski, Viterra’s President and CEO for North America. “By expanding our rail and storage capacities in targeted areas, we are creating further value for our farm customers at the local level, as well as our suppliers and end use customers.”
Storage capacity will increase by over 30,000 metric tonnes at each facility. Railcar capacity at the facilities will more than double, and each location will be able to load in excess of 134 railcars once the upgrades are complete. The Binscarth facility is situated on a CP operated rail line, while the Stettler facility is on Alberta Prairie Railway, a CP railroad partner.
“We’re pleased to continue working with Viterra to advance our plans in the Stettler area in order to more efficiently serve farmers and the broader economy,” said Joan Hardy, CP's Vice-President Sales and Marketing, Grain & Fertilizers. “Innovations like this fit well with our 8,500 foot High Efficiency Product train model and are integral to the continued success of the grain supply chain.”
“We are looking forward to continuing our long-term partnership with Viterra in grain transportation in the Stettler area” said Don Gillespie, President of Alberta Prairie Railway.
Viterra’s focus on targeted industry investments combined with its strong supplier partnerships are an essential component of its long term strategy.
“Over the last several years, we’ve invested substantially in our value chain, from our inland country assets to our port facilities,” said Jeworski. “We will continue to make the necessary investments and work closely with our supply chain partners to ensure we’re well positioned to support the efficient movement of Canada’s agricultural commodities today and well into the future.”
Viterra is Canada's grain industry leader, supported by the expertise of its people, a superior network of assets, and unrivalled connections to world markets. Headquartered in Regina, Saskatchewan, our commitment to agriculture goes back over 100 years, partnering with farmers to market and move their crops to areas of need around the world. Our continued focus on operational excellence throughout North America allows us to efficiently handle, process, distribute and transport grains and oilseeds. We provide further value to our partners through a wide variety of contracting and risk management tools to help them realize the full potential of their crops. For more information on Viterra in North America, please visit www.viterra.com. Viterra is part of Glencore Agriculture, a global market leader in originating, handling, processing and marketing agricultural commodities.
About Canadian Pacific
Canadian Pacific (TSX:CP) (NYSE:CP) is a transcontinental railway in Canada and the United States with direct links to major ports on the west and east coasts. CP provides North American customers a competitive rail service with access to key markets in every corner of the globe. CP is growing with its customers, offering a suite of freight transportation services, logistics solutions and supply chain expertise. Visit cpr.ca to see the rail advantages of CP.
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