Goderich Buys Parts of GS Dunn

TORONTO - Mar 1/06 - SNS -- Goderich Elevators Limited will buy certain assets of G.S. Dunn & Co. Limited, a dry mustard miller and global supplier of dry mustard products located in Hamilton, Ontario.

The purchases was made in the context of GS Dunn's ongoing proceedings under the Companies' Creditors Arrangement Act (R.S. 1985, c. C-36).

Goderich originally announced the Acquisition on January 31, 2006, but subsequently reported that the Acquisition was terminated on February 10, 2006. Subsequent to the announcement that the Acquisition was terminated, Goderich and GS Dunn agreed to resume negotiations and have come to an agreement as to the purchase and sale of the Purchased Assets.

The Acquisition is subject to obtaining an order from the Ontario Superior Court of Justice (Commercial List) finally and unconditionally approving the sale of the Purchased Assets to Goderich and vesting all right, title and interest of GS Dunn in the Purchased Assets to Goderich.

"We are delighted to be able to move forward with the acquisition of the GS Dunn assets and we look forward to developing those assets", said Don Henry, President of Goderich Elevators.