AGI Closes Yargus Acquisition
Nov 21, 2016
WINNIPEG, MANITOBA--(Marketwired - Nov. 21, 2016) -
Ag Growth International Inc. (TSX:AFN) ("AGI" or the "Company") today
confirms it has closed its previously announced acquisition of Yargus
Manufacturing, Inc. ("Yargus"). Based in Marshall, Illinois, Yargus is a
manufacturer of material handling equipment used primarily in
commercial fertilizer applications. Yargus is recognized for its custom
design and manufacturing expertise, and its product offering, sold under
the brand name Layco, includes tower blender systems, batch blending
systems, control systems, in-plant receiving, automated coating systems,
conditioners/delumpers, performance mixers, declining weight/volumetric
blend systems, and conveyor systems.
The acquisition of Yargus substantially expands AGI's North
American fertilizer handling platform, both geographically and in terms
of service offering. Yargus has a substantial presence in the U.S., as
well as a growing international presence, both of which are highly
complementary to AGI's current material handling footprint. Yargus has
recently made substantial investments in plant, equipment, senior
personnel, and product development, and when combined with AGI's
existing divisions, will be very well positioned to compete in both
local and international markets.
Ag Growth International Inc. 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 manufacturing facilities in Canada, the United States, Italy,
Brazil and the United Kingdom, and distributes its products globally.
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