/C O R R E C T I O N from Source -- Viterra Canada Inc./

Rhea-AI Summary

Viterra has announced plans to build a state-of-the-art grain facility in Dalhart, Texas, enhancing service to West Texas customers. The new facility will feature an advanced grain handling system and a loop track connected to Union Pacific Railroad's extensive 32,000-mile network. Rayner Freyberg, CEO of Viterra US & Mexico, emphasized the investment's role in meeting the rising local grain demand and improving product marketing and transportation efficiency. Jason Hess, SVP of Union Pacific Railroad, highlighted their strong partnership with Viterra and ongoing infrastructure investments. The facility is set for completion by mid-2025, promising economic growth and job creation in Dalhart and nearby regions.

In the news release, Viterra announces intent to build grain elevator in Dalhart, Texas, issued 26-Jun-2024 by Viterra Canada Inc. over PR Newswire, we are advised by the company that the third, fourth and fifth paragraphs have been updated. The complete, corrected release follows:

Viterra announces intent to build grain elevator in Dalhart, Texas

OMAHA, Neb., June 26, 2024 /PRNewswire/ - Viterra has announced its intent to build a grain facility in Dalhart, TX, enabling the company to strengthen its service to customers in West Texas. The new facility will include a state-of-the-art grain handling system and loop track served by Union Pacific Railroad's 32,000-mile network.

"As local demand for grain increases, this investment will allow us to market and move product more efficiently to customers in the West Texas area," stated Rayner Freyberg, CEO US & Mexico for Viterra. "As we've shown with our previous investments in the area, Viterra is committed to serving its growers and customers and finding solutions in an ever-changing landscape."

With its loop track served by the Union Pacific Railroad, the facility in Dalhart is expected to provide greater market access for producers and end users throughout Viterra's supply chain.

"Union Pacific appreciates and values the relationship we have with Viterra to provide safe and reliable service to this growing agricultural market for years to come," said Jason Hess, Senior Vice President – Marketing and Sales, Union Pacific Railroad. "We innovate for growth just like this, investing more than $10 million per day in infrastructure, technology and network expansion to provide solutions for our customers to win in the marketplace."

Anticipated to be complete in mid-2025, Viterra expects this new build to bring substantial benefits to Dalhart and the surrounding area, fostering economic growth and creating employment opportunities.

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 16,000 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.

About Union Pacific

Union Pacific (NYSE: UNP) delivers the goods families and businesses use every day with safe, reliable and efficient service. Operating in 23 western states, the company connects its customers and communities to the global economy. Trains are the most environmentally responsible way to move freight, helping Union Pacific protect future generations. More information about Union Pacific is available at www.up.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.

View original content:https://www.prnewswire.com/news-releases/viterra-announces-intent-to-build-grain-elevator-in-dalhart-texas-302183377.html

SOURCE Viterra Inc.

FAQ

What is Viterra's latest project in Dalhart, Texas?

Viterra plans to build a state-of-the-art grain facility in Dalhart, Texas, featuring advanced grain handling systems and a loop track connected to Union Pacific Railroad.

When will the new Viterra grain facility in Dalhart be completed?

The new Viterra grain facility in Dalhart is expected to be completed by mid-2025.

How will the new Viterra facility in Dalhart benefit the region?

The new Viterra facility will enhance grain marketing and transportation efficiency, stimulate economic growth, and create job opportunities in Dalhart and surrounding areas.

Which railroad will serve Viterra's new grain facility in Dalhart?

Union Pacific Railroad will serve Viterra's new grain facility in Dalhart with its 32,000-mile network.

Why is Viterra investing in a new grain facility in Dalhart?

Viterra is investing in the new facility to meet increasing local grain demand and improve product movement efficiency in West Texas.

What did Jason Hess say about Union Pacific's involvement in the Viterra project?

Jason Hess, Union Pacific's SVP of Marketing and Sales, emphasized the strong relationship with Viterra and noted the railroad's substantial daily investments in infrastructure and technology.