Legumex Walker Announces Successful Commissioning of Crushing Equipment at Pacific Coast Canola Facility
- Company Preparing to Begin Commercial Production -
WINNIPEG, Dec. 27, 2012 /CNW/ - Legumex Walker Inc. (TSX: LWP) (the "Company") today announced that the operating team at the Pacific Coast Canola (PCC) processing facility has successfully completed the commissioning of the crushing equipment and is commencing the start-up of the plant for commercial production.
"We are thrilled that our team is now operating the facility," said Joel Horn, President and Chief Executive Officer, Legumex Walker Inc. "We have completed the commissioning of the core processing equipment and have begun running canola seed through the facility. We are still on track to put the plant in service for commercial production on or ahead of schedule. Being at this stage prior to year end is a testament to both our outstanding construction and engineering partners and the incredible management and operating team we have assembled at PCC."
About Pacific Coast Canola and the Pacific Coast Canola Processing Facility
Pacific Coast Canola is constructing its first canola crushing plant in Warden, WA. With a nominal capacity 1,100 metric tonnes (MT) of canola per day, the Warden facility will produce expeller-pressed canola oil and high-quality canola meal. The plant will be the first commercial-scale canola crushing operation west of the Rockies and is well positioned to supply the expanding demand for canola products on the west coast of the United States. Warden is in the heart of a multi-state region that is ideal for canola production and well-served by rail and surface transportation routes. The plant has a design output capacity of 142,500 MT (approximately 314,000 pounds) of canola oil and 227,000 MT of canola meal per year.
Pacific Coast Canola is 85 percent owned by Legumex Walker and 15 percent by Glencore Grain Investment LLC.
About Legumex Walker Inc.
Legumex Walker is a growth-oriented processor and merchandiser of pulses (beans, lentils, peas and chickpeas), other special crops (sunflowers and flax) and canola products. The Company is one of the largest processors of pulses and other special crops in Canada. Legumex Walker has 14 processing facilities strategically located in key growing regions in the Canadian Prairie Provinces, the American Midwest, and China, a global sales, logistics, and distribution platform and access to multimodal transportation capabilities. In addition the Company has an 85 percent interest in Pacific Coast Canola, LLC, a company that is constructing a canola oilseed processing facility in Washington State.
Cautionary Note on Forward-looking Statements
This press release contains certain forward-looking statements. Forward-looking statements include, but are not limited to, those with respect to the expected start of commercial production of the PCC Plant and projected plant capacity and output. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company (including its operating subsidiaries) to be materially different from any future results, performance or achievements expressed or implied by the forward looking statements. Such risks and uncertainties include, among others, timing and cost overrun risks associated with the construction of the PCC Plant (as defined herein), risks related to the operation of the PCC Plant, product liabilities, environmental risks, regulations related to agricultural commodities, weather related risks, the demand for and availability of rail, port and other transportation services, the actual results of harvests, fluctuations in the price of pulses and other crops, failure of plant, equipment or processes to operate as anticipated, accidents, labour disputes, risks relating to the integration of acquisitions, as well as those factors referred to in the section entitled "Risk Factors" in the Company's Management's Discussion and Analysis for the period ended September 30, 2012, which is available on SEDAR at www.sedar.com and which should be reviewed in conjunction with this document. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Although the Company believes the assumptions inherent in forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this press release. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.
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