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Press release from CNW Group


Tuesday, October 26, 2010

VICWEST INCOME FUND'S WESTEEL PRODUCTS TO BE MARKETED IN THE UNITED STATES BY BUHLER INDUSTRIES08:00 EDT Tuesday, October 26, 2010Toronto Stock Exchange: VIC.UN, VIC.DBOAKVILLE, ON, Oct. 26 /CNW/ - Vicwest Income Fund (the "Fund") today announced that its Westeel division has entered into the second phase of a global strategic alliance with Buhler Industries Inc. (TSX:BUI) under which Westeel's storage solutions will be marketed in the United States by Buhler dealers.As part of this phase of the alliance, Buhler Industries will become the sole distributor for Westeel products in the United States and assume responsibility for marketing both Westeel-built product sold under Buhler Industries' Farm King division and all Westeel-branded products sold in the U.S., including grain bins, storage accessories, grain augers, grain vacs and grain cleaners."The U.S. is the world's largest agricultural products market, and by working together, Westeel and Buhler Industries are perfectly positioned to serve it, and drive the growth of our respective franchises," Colin Osborne, Vicwest Income Fund President and Chief Executive Officer. "Through this phase of our alliance, we intend to significantly increase the U.S. customer base for both partners by leveraging the respective strengths in product innovation, manufacturing, marketing, sales and distribution that have made each a leader in its respective niches."This global alliance is the latest example of Vicwest Income Fund's growth strategy aimed at increasing international business development in the agricultural sector. Today, the Fund delivers its products to customers in more than 30 countries and international sales now represent approximately 25% of Westeel's grain storage revenues."This is a very exciting development for Westeel as it significantly increases the distribution footprint for our products within the U.S.," said André Granger, Vice President and General Manager of Westeel. "Buhler Industries has a well-established U.S. dealer network and through it, Westeel products will now be introduced to many new American territories and receive the dealer support required to strongly penetrate those markets and serve our customers."As part of the first phase of the alliance announced on October 5, 2010, Westeel is now marketing, under the Westeel brand, Buhler-manufactured grain handling equipment through its Canadian distribution network. The products include portable grain augers, grain cleaners and grain vacs, all manufactured to the exacting standards and quality associated with the Westeel brand.About Vicwest Income FundThe Fund is a leading manufacturer and distributor of building construction products, and steel containment products for agricultural grain, fertilizer and liquid storage. Through its Vicwest Building Products division, the Fund fabricates and markets metal roofing, siding and other metal building products under the trade names Vicwest, Mercury Metals, Valley Truss & Metal and RCA Metal. The Fund's Westeel Storage Solutions division manufactures storage solutions for agricultural grain and fertilizer, as well as liquid storage tanks and accessories. These products are manufactured and distributed under the trade names Westeel, Northern Steel Industries and NSI. Through a global alliance, Westeel also distributes Buhler Industries-manufactured grain handling equipment in Canada under the Westeel brand. With approximately 1,200 dedicated employees and strategically located manufacturing facilities, the Fund delivers superior quality products and excellent service to customers in chosen markets. Vicwest Income Fund has traded on the Toronto Stock Exchange since 2005 and is a member of the S&P/TSX SmallCap Index. For more information, visit Buhler Industries Inc.Buhler Industries Inc. (TSX: BUI) designs, manufactures and distributes agricultural equipment. The products are marketed under the brand names Versatile(R) and Farm King. Buhler Industries Inc. operates seven modern manufacturing facilities and nine distribution centers totaling over 1.6 million square feet in the United States and Canada and employs more than 800 people. For more information visit STATEMENTSCertain statements in this news release may constitute "forward-looking" statements. When used in this news release, such statements use words, including but not limited to, "may", "will", "expect", "believe", "plan", "intend", "anticipate", "future" and other similar terminology. These forward-looking statements reflect the current expectations of the Fund's management regarding future events but involve known and unknown risks, uncertainties and other factors which may cause the outcome of the Offering or the actual results, performance or achievements of the Fund to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual events could differ materially from those projected herein and depend on a number of factors. These factors would include, but are not limited to, dependence on market and economic conditions, sales and margin risk, competition, information system risks, availability of supply of products, risks associated with the introduction of new product lines, product design risk, environmental risks, volatility of commodity prices, inventory risks, customer and vendor risks, acquisition and integration risks, availability of credit, credit risks, interest rate risks, regulatory risks and employee retention risks. These forward-looking statements speak only as of the date of this news release. Except as required by applicable securities laws, the Fund does not undertake, and specifically disclaims, any obligation to update or revise any forward looking information, whether as a result of new information, future developments or otherwise, except as required by applicable law.For further information: Colin Osborne, President & Chief Executive Officer, Vicwest Income Fund, Tel: (905) 469-5700, Fax: (905) 825-1090; John Slattery, Executive Vice President & Chief Financial Officer, Vicwest Income Fund, Tel: (905) 469-5706,