Pan American Fertilizer Corp. announced expansion of operation to Uruguay. The company is maintaining its current operation in Argentina and, as planned, expanding into other markets. Establishing a base of operations in Uruguay will ensure the company is on track to grow its market share, as fertilizer providers, within the agricultural industry of South America. The company is establishing a wholly owned subsidiary within Uruguay to capitalize on the Uruguay agricultural market.
"Establishing a secondary base in Uruguay offers us a unique opportunity to access the local Uruguayan market and demonstrates our company's continued commitment in South America. With continued focus on South America, including strategic expansion plans, we believe the Company will gain a significant foothold as fertilizer providers to the South American agricultural industry. We are looking forward to continued growth for our company and diversity in the types of agriculture our products can be used for," said Randy Wright, the company's vice chairman and CEO.
In response to the recent market activity and increase in price of the company's shares, the company reports no material changes in its business or affairs and is unaware of any fact which would explain the unusual trading activity.