-Investment marks first processing facility outside of North America-
WINNIPEG, Feb. 29, 2012 /CNW/ - Legumex Walker Inc. (TSX: LWP) announced
today that it has commenced bean processing operations at its facility
in Tianjin, China. The processing operation - with a capacity of
10,000 MT per year - was established at an existing Legumex Walker
logistics and distribution location and is the Company's first
processing facility outside of North America. The operation is doing
business under the name of Legumex Walker (Tianjin) International
"Our industry is increasingly global and so too is our company," said
Joel Horn, president and CEO of Legumex Walker. "This investment
diversifies our processing capabilities beyond North America and builds
on our 10-year operating history in China. Over the last decade, we've
established the local sourcing, distribution, and logistical
relationships to successfully support our own in-country processing
capabilities and capture the additional margin it represents. Looking
ahead, our focus will be on leveraging our position in China to create
additional opportunities across our growing global sourcing and
Legumex Walker's Chinese facility is well-positioned to source beans
from northeast China and is fully staffed and operational.
With the addition of the 10,000 MT per year capacity from this
processing facility, as well as the recent acquisitions of St. Hilaire
Seed Company and certain assets of Anderson Seed Company in the U.S.,
24 percent of Legumex Walker's processing capabilities now reside
outside of Canada.
In addition to the new processing facility in Tianjin, China, the
Company operates sales and logistics offices in Hong Kong and Beijing.
About Legumex Walker Inc.
Legumex Walker is a growth-oriented processor and merchandiser of pulses
(lentils, peas, beans and chickpeas), other special crops and canola
products. The Company is one of the largest processors of pulses and
other special crops in Canada, with 12 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.
This press release contains "forward‐looking information" within the
meaning of Canadian securities laws, which may include, but are not
limited to the anticipated effect of the acquisition of a processing
plant in China on the Company's financial performance and business
opportunities as well as statements relating to the reporting of
financial results for future periods. Such forward‐looking information
reflects the Company's views with respect to future events and is
subject to risks, uncertainties and assumptions, including those set
out in the final prospectus of Legumex Walker dated June 30, 2011
available on sedar.com. The Company does not undertake to update
forward‐looking statements or forward‐looking information, except as
required by law.
SOURCE Legumex Walker Inc.
For further information:
Manager of Investor Relations - Legumex Walker Inc.
(416) 815-0700 ext. 257