AGI Reports Commercial Grain Storage Bin Failure
Winnipeg, MB, September 15, 2020 – Ag Growth International Inc. ("AGI" or the "Company") announced that on Friday September 11, 2020 a commercial grain storage bin manufactured by the Company and located at a customer's export terminal in North Vancouver, BC, collapsed. The incident did not result in any injuries.
The cause of and any responsibility for the incident is not yet known, and as such the Company is not able to determine any costs it may incur related to the incident.
The grain storage bin that collapsed is part of a new and distinct product line that was developed and manufactured by the Company for two significant commercial projects. 15 of these bins are located at the facility where the incident occurred and an additional 20 have been manufactured for another customer but have not yet been commissioned. As part of its standard protocol, in investigating this incident the Company will be investigating all bins in the product line.
AGI Company Profile
AGI is a leading provider of solutions for the global food infrastructure, including seed, fertilizer, grain, feed, and food processing systems. AGI has manufacturing facilities in Canada, the United States, the United Kingdom, Brazil, India, France and Italy and distributes its product globally.
Forward-Looking Information
This news release contains forward-looking statements and information (collectively, "forward-looking information") within the meaning of applicable securities laws that reflect the Company's expectations regarding its future growth, results of operations, performance, business prospects, and opportunities. All information and statements contained herein that are not clearly historical in nature constitute forward-looking information. Forward-looking information involves known or unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Undue reliance should not be placed on forward-looking information, as there can be no assurance that the plans, intentions or expectations upon which it is based will occur. Such forward-looking information reflects AGI's current beliefs and is based on information currently available to us.
Forward-looking information involves significant risks and uncertainties. These risks and uncertainties are described under “Risks and Uncertainties” in AGI's MD&A and in our most recently filed Annual Information Form, all of which are available under AGI's profile on SEDAR [www.sedar.com]. These factors should be considered carefully, and readers should not place undue reliance on AGI’s forward-looking information. AGI cannot assure readers that actual results will be consistent with this forward-looking information. The forward-looking information contained herein is expressly qualified in its entirety by this cautionary statement. The forward-looking information included in this press release is made as of the date of this press release and AGI undertakes no obligation to publicly update such forward-looking information or the results of its investigation or other matters related to the incident to reflect new information, subsequent events or otherwise unless so required by applicable securities laws.
For More Information Contact:
President & CEO, AGI
Tim Close
204-489-1855
Tim.Close@aggrowth.com