WINNIPEG, Jan. 18, 2019 /CNW/ - Ag Growth International Inc.
("AGI") (TSX: AFN) is pleased to announce it has acquired Improtech Ltd. ("Improtech"), a provider of engineering solutions to
the food and beverage industry.
Improtech is a professional engineering services firm specializing in providing engineering design, project management and
integration of new machinery and processes within the food and beverage industry. Founded in 1987 and headquartered in
Toronto, Canada, Improtech has evolved from mechanical engineering consulting to providing
clients with complete design/build solutions carefully tailored to accommodate the unique conditions of different production
facilities. Sales at Improtech have historically been weighted towards multi-national entities and have averaged approximately
$5,000,000 over the past three fiscal years.
Improtech adds complementary engineering capabilities to those at Danmare, enhancing AGI's ability to provide complete
engineering solutions to an increasingly diverse customer base. Areas of expertise for Improtech include liquid ingredient
handling, design of fully automated clean-in-place systems, process utilities design, commissioning of new equipment, and machine
safety and guarding design. Improtech also offers turnkey solutions which include design, equipment supply, installation, and
commissioning.
Improtech joins Danmare, Sabe, and Mitchell Mill Systems as recent additions to AGI's growing Food platform. AGI is proud to
welcome Carmine Zavarella, Kristen Milad and the entire Improtech
team to the AGI family.
Company Profile
AGI is a leading provider of equipment solutions for agriculture bulk commodities including seed, fertilizer, grain, and feed
systems with a growing platform in providing equipment and solutions for food processing facilities. AGI has manufacturing
facilities in Canada, the United States, the United Kingdom, Brazil, South Africa and
Italy and distributes its product globally.
Further information can be found in the disclosure documents filed by AGI with the securities regulatory authorities,
available at www.sedar.com and on AGI's website www.aggrowth.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements that reflect our expectations regarding the future growth, results of
operations, performance, business prospects, and opportunities of the Company. Forward-looking statements may contain such words
as "anticipate", "believe", "continue", "could", "expect", "intend", "plan", "will" or similar expressions suggesting future
conditions or events. In particular, the forward-looking statements in this press release include statements relating to our
business and strategy, including our expectations with respect to the expected benefits of the Improtech acquisition. Such
forward-looking statements reflect our current beliefs and are based on information currently available to us, including certain
key expectations and assumptions concerning anticipated grain production in our market areas, financial performance, business
prospects, strategies, product pricing, regulatory developments, tax laws, the sufficiency of budgeted capital expenditures in
carrying out planned activities, currency exchange rates and the cost of materials, labour, services, AGI's ability to
achieve the expected benefits of the acquisition of Improtech, and the anticipated impact of the acquisition of Improtech on
AGI's business. Forward-looking statements involve significant risks and uncertainties. A number of factors could cause actual
results to differ materially from results discussed in the forward-looking statements, including changes in international,
national and local business conditions, weather patterns, crop planting, crop yields, crop conditions, the timing of harvest and
conditions during harvest, seasonality, industry cyclicality, volatility of production costs, agricultural commodity prices, the
cost and availability of capital, currency exchange rates, competition, the failure to complete the Improtech acquisition on the
terms or on the timing announced or at all and the failure to realize some or all of the anticipated benefits of the acquisition
of Improtech. These risks and uncertainties are described under "Risks and Uncertainties" in our most recently filed MD&A and
Annual Information Form. These factors should be considered carefully, and readers should not place undue reliance on the
Company's forward-looking statements. There can be no assurance that any of the anticipated benefits of the Improtech acquisition
will be realized. We cannot assure readers that actual results will be consistent with these forward-looking statements and we
undertake no obligation to update such statements except as expressly required by law.
SOURCE Ag Growth International Inc. (AGI)
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