FOR IMMEDIATE RELEASE
Winnipeg – January 3rd, 2013 - Ag Growth International Inc.(AGI) has entered into an agreement to acquire a manufacturing facility in Swift Current, Saskatchewan from UFR Urban Forest Recyclers Inc. as the future site for Batco Manufacturing.
Batco started in 1992 and was the founding company of AGI. Batco went from making two-wheel hand carts to manufacturing an extensive line of portable belt conveyors used in storage and handling facilities for grain, seed and fertilizer. Since its inception Batco has grown sales exponentially through innovative products and a strong focus on customers which has enabled the current facility to reach capacity. Batco currently has a staff of over 70 employees and operates out of a 33,500 square foot facility.
The new facility is located on 8.5 acres with approximately 114,000 square feet of manufacturing space. The additional space will allow AGI to install a new powder coat paint line and set up lean processes which will increase quality and productivity with the potential to double capacity.
“We believe that there is opportunity for significant growth in the farm and custom conveying market for seed, fertilizer and grain handling. The investment in a larger facility will enable AGI to capitalize on the growth potential with current products and increase our capability to bring innovative belt conveying technology to the market.” stated AGI President & CEO, Gary Anderson.
Total project costs will be approximately $8.7M and will be funded from the sale of the current Batco facility and other properties owned by AGI that are not currently in use. The facility move will happen in stages in order to ensure that there is no interruption in Batco sales and will be operational in the fourth quarter of 2013.
“This is an investment in upgrading our founding company, which has continued to be a major contributor to AGI’s financial success. This investment is in line with AGI’s strategy to have dedicated manufacturing facilities that develop best in class products for our customers” said Anderson.
About Ag Growth International
Ag Growth International (AGI) is a leading manufacturer of portable and stationary grain handling, storage and conditioning equipment including augers, belt conveyors, grain storage bins, grain handling accessories, grain aeration equipment and grain drying systems. AGI has eleven manufacturing facilities in Canada, the United States, the United Kingdom and Finland, and its sales, marketing and distribution system distributes products in 48 states, nine provinces, and internationally.
For more information regarding AGI please visit www.aggrowth.com.
For further information, contact:
Vice President Marketing
Ag Growth International