WINNIPEG, Canada, June 20, 2012 (GLOBE NEWSWIRE) -- Richardson Oilseed Limited is increasing crushing capacity at its canola processing plant in Yorkton, Saskatchewan by 25 per cent due to growing demand for Canadian canola and canola products.
"Strong demand from domestic and international food markets, which is being driven by growing consumer interest in healthier food products and biodiesel mandates, are fuelling increased demand for canola oil," says Pat Van Osch, Vice President and General Manager of Richardson Oilseed. "Canola is a Canadian success story and we are committed to continuing to increase our presence in the market to meet growing demand for Canadian canola."
Richardson opened its $170 million, state-of-the-art canola processing facility at Yorkton in June 2010. Two years later, Richardson will increase processing capacity at the plant by 25 per cent, increasing processing capacity from 2,400 tonnes of canola per day to 3,000 tonnes per day. With this new expansion, the Yorkton plant will have the capacity to process over one million tonnes of canola per year compared to its current 840 000 metric tonne annual capacity. Construction will begin in the fall and is expected to be complete by late 2013.
Recognized as a leader in the Canadian canola industry, Richardson Oilseed has been at the forefront of canola oil production and marketing for more than a decade. The industry has increased capacity by more than 70 per cent in the last two years to keep up with increasing demand for canola oil.
"Canola growers are responding well to the increase in demand by seeding record acres of canola for the last five years," says Van Osch. "With strong origination capability through our Richardson Pioneer network, we are in an excellent position to expand our footprint at Yorkton and increase processing capacity to keep up with increasing global demand for canola oil."
Richardson Oilseed is a wholly owned subsidiary of Richardson International Limited, Canada's largest, privately owned agribusiness. Based in Winnipeg, Richardson has more than 1,700 employees across the country and is a worldwide handler and merchandiser of all major Canadian-grown grains and oilseeds. Richardson is one of Canada's 50 Best Managed Companies and is recognized as a global leader in agriculture and food processing.
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