Grain Journal - January/February 2009 - (Page 169) Viterra Inc. Looking at Global Acquisitions Viterra Inc. President and CEO Mayo Schmidt said Jan. 20 that the Regina, SK-based grain handler plans to remain focused on its growth strategy in 2009 to diversify its business geographically and expand its value-added processing capabilities. “In recent months, we have reviewed a number of acquisitions or alliances that could have added to our size,” said Schmidt. “But we also understand the value of being patient.” Viterra expansion began in 2007 when the company (formerly called Saskatchewan Wheat Pool) acquired Manitoba-based Agricore United. Then in 2008, the company began taking advantage of ideal market conditions as earnings grew to $288.3 million in fiscal year 2008 (ended Oct. 31) compared to $116.5 million in 2007. Schmidt said the company is eager for acquisitions in North America and elsewhere. “We’re going to be aggressive,” he said. “We have the confidence to act, but we’re going to be very prudent.” In April, 2008, Viterra acquired Hi-Pro Feeds three feed manufacturing plants in New Mexico and Texas and five agriproducts operations in Canada. “Some of the larger acquisitions will take place, we believe, in the near future, but every day that we wait it really is working in our favor,” said Schmidt in reference to slumping valuations of target companies. Schmidt said the company is considering purchases in the United States, Europe, and Australia, and could also expand by buying canola-crushing businesses. “The demand in the oil market and products that require canola oil is a growing market,” said Schmidt. M A N L I F T R E P A I R / I N S P E C T I O N Response No. 1691 Response No. 1693 Response No. 1692 Response No. 1694 J/F GJ 169 http://www.harriscompanies.com http://www.americanbeltmanlift.com http://www.americanbeltmanlift.com http://www.harriscompanies.com http://www.perma-tron.com http://www.perma-tron.com
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