RICHARDSON DOUBLES CAPACITY AT VANCOUVER PORT TERMINAL AND SETS SHIPPING RECORDS

WINNIPEG, Manitoba, May 11, 2016 -- Richardson International Limited has nearly doubled the storage and receiving capacity of its export terminal in North Vancouver following the successful completion of a $140-million expansion project.

Richardson added an 80,000-metric-tonne concrete grain storage annex to its terminal, increasing storage capacity to 178,000 metric tonnes. The terminal now has the ability to handle in excess of six million tonnes each year to meet growing demand for Canadian grains and oilseeds. Richardson also upgraded and enhanced its rail yard and receiving system to handle and process railcars more efficiently.
 
Building the new grain storage annex was no easy feat. Not only was it challenging to construct the new annex on a narrow strip of land along the North Vancouver waterfront, Richardson's terminal remained in full operation while construction took place.
 
"For us to complete this project on time and on budget, not only continuing daily operations but exceeding expectations by setting new shipping and receiving records, is an outstanding accomplishment," says Darwin Sobkow, Executive Vice-President, Agribusiness Operations and Processing. "Our Vancouver project has been a tremendous success story from start to finish and that speaks volumes about the commitment and dedication of our team."
 
Despite ongoing construction, which began in September 2013 and concluded earlier this year, Richardson managed to set both rail and shipping records at its busy port terminal. While the facility typically ships about three million tonnes of grain each year, it set a new handling record in 2015, shipping 5.2 million tonnes. Richardson shipped 551,000 tonnes of grain in April 2016 alone, beating the previous record of 489,000 tonnes. That same month, the Vancouver terminal received 5,400 rail cars - 200 more than it has ever received in the same time period.
 
"Our Vancouver expansion was a significant investment in our business to ensure we have the appropriate capacity on the West Coast," says Curt Vossen, President and CEO of Richardson International. "As Canada's leading agribusiness, we have positioned ourselves globally to efficiently move Canadian grains and oilseeds to emerging markets in Asia-Pacific and other areas, further enhancing our ability to serve our farm customers at home and international buyers around the world."
 
Richardson International is proud to be truly invested in Canadian agriculture. Recognized as a global leader in agriculture and food processing, 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 is headquartered in Winnipeg and has over 2,500 employees across Canada and the U.S.

A photo accompanying this release is available at: http://www.globenewswire.com/newsroom/prs/?pkgid=40223

CONTACT: Tracey Shelton
         
         Director, Corporate Communications
         
         (204) 934-5169 or 
         (204) 799-2838 (cell)
         
         [email protected]
         
         www.richardson.ca