Ag Growth International Stock

Ag Growth International Inc., together with its subsidiaries, manufactures and distributes grain handling, storage, and conditioning equipment in Canada, the United States, and internationally.

The company provides products, systems and solutions to the agriculture and food processing industries. Its core products and services include handling and storage systems for grain, fertilizer, feed, seed, as well as food. The company provides technology solutions for farmers, grain buyers, agriculture retailers and food processors.

The company manufactures grain handling, storage and conditioning equipment. The company offers complementary products. The company’s five platforms are Fertilizer, Seed, Grain, Feed and Food.

The company’s expansion into Fertilizer, Seed and Feed began with the acquisition of Westeel in 2015. This provided AGI with a smoothwall bin product line, which is frequently used for fertilizer, seed and feed storage. The product offering for seed, fertilizer and feed includes elevators, conveyors, blenders, distributors, storage bins and control systems. The company also offers its STORM seed treatment equipment, which provides a precision seed treatment application. The company focuses on developing a global presence to serve its multi-national customers.

Farm

The company’s Farm business includes the sale of grain and fertilizer handling equipment, aeration products and storage bins, primarily to farmers in North America where on-farm storage practices are conducive to the sale of portable handling equipment and smaller diameter storage bins for grain and fertilizer. The company manufactures portable grain handling equipment.

The company’s product offering includes a range of Fertilizer, Seed, Grain, Feed and Food handling, storage and conditioning equipment, and related technology solutions that are sold into markets spanning the agricultural commodity production and processing continuum. Commercial operations, including grain elevators and port facilities, as well as agricultural commodity processing operations, have the highest capacity requirements.

Sales, Marketing and Distribution

The company’s products are distributed through dealers or directly to end customers. Through its network of independent dealers and distributors, the company’s products are distributed throughout North America and overseas. The company has an international sales and business teams group based in Canada as well as sales teams across various geographies including USA, Brazil, France, UK, Italy, Romania, Ukraine, Russia, Africa, Australia, the Netherlands and Southeast Asia.

Acquisitions

In 2019, the company acquired 100% Milltec Machinery Limited (Milltec), a manufacturer of rice milling and processing equipment in India. Milltec manufactures a full line of rice milling equipment, including: front-end equipment, milling equipment and end-of-line equipment. In addition to rice processing equipment, Milltec offers solutions for rice processing activities; pulse, seed, maize and wheat processing equipment, as well as ancillary products, including silica extraction and co-generation plants.

In 2019, the company 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. Improtech specializes in 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 solutions, which include design, equipment supply, installation and commissioning.

In 2019, the company acquired IntelliFarms LLC (IntelliFarms), a provider of hardware and software solutions that benefit grain growers, processors and other participants in the agriculture market. IntelliFarms offers technology solutions to farmers, including BinManager, a highly- automated system that works with conditioning equipment to maintain the quality of stored grain that also allows for remote monitoring and control of the systems; and SureTrack Farm, a portal which offers farmers multiple tools including seed trait data, field management and bin management.

History

The company was founded in 1966. It was formerly known as Ag Growth Income Fund and changed its name to Ag Growth International Inc. in 2009.