Ag Growth International acquires fertilizer and feed handling company for $15M
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Hey there, time traveller!
This article was published 30/11/2015 (3977 days ago), so information in it may no longer be current.
Ag Growth International has acquired its first commercial fertilizer and feed handling company with the $15 million acquisition of GJ Vis Enterprises Inc. of Oak Bluff.
Vis makes material handling equipment used in the fertilizer, feed and grain sectors.
“Vis marks our entry into providing equipment and services for the commercial fertilizer and feed infrastructure in Western Canada,” said Tim Close president of AGI. “We are very pleased to welcome the entire Vis team to the AGI family of companies.”
Vis provides AGI with new capability and experience in the planning, design and manufacture of high throughput industrial fertilizer handling equipment.
With manufacturing sites in Canada, the U.S. and Europe, AGI makes 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.
It’s just come off a tough third quarter with newly acquired Westeel reporting a 40 per cent decline in 3rd quarter revenues.
Management expects fourth quarter sales of on-farm portable equipment to fall below 2014 levels as a quick and efficient harvest in both Canada and the U.S. has contributed to slightly elevated dealer inventories.