WINNIPEG, MANITOBA - Buhler Industries Inc (TSX: BUI) continues to fulfill its plan to become a full-line equipment manufacturer. The company has purchased the assets of Ezee-On Manufacturing, an Alberta-based precision seeding and tillage manufacturer, for $14.5 million, from TerraVest Income Fund (TSX: TI:UN). Ezee-On is known for building durable and reliable products such as air drills and air carts, offset and tandem discs, postpounders and front-end loaders.
"The acquisition of Ezee-On is another step in the process of becoming a full-line equipment manufacturer," explains Dmitry Lyubimov, President of Buhler Industries. "Our goal is to be able to offer a complete line of equipment to large acre growers in North America and around the world. Tillage and seeding equipment is essential for that growth."
Ezee-On has been manufacturing farm equipment for more than 50 years and has a history of developing products that are well-built and durable. The product line has expanded through the years and now includes a well-rounded portfolio of tillage tools, including air drills and air carts that are known for accuracy and reliability. The line of offset and tandem discs, both for agriculture and construction, have developed a reputation for being heavyduty and capable of handling the toughest field conditions. The post driver is an excellent addition to the Farm King product group.
Additional resources will be dedicated to research and development to further develop the products built at the Ezee-On facility to meet the growing demands of the Versatile and Farm King dealer network, as well as the needs of farmers around the world. Information on these products, which will enhance the overall product offering, will be released on an ongoing basis.
Staff and Facility
The acquisition includes the 140,000 square foot facility on 18 acres in Vegreville, Alberta, that employs 70 people, as well as a set-up and distribution warehouse in Billings, Montana.
Buhler Industries Inc. (TSX: BUI) designs, manufactures and distributes agricultural equipment. The products are marketed under the brand names Versatile(R) and Farm King. Buhler Industries Inc. operates seven modern manufacturing and nine distribution centers totaling over 1.6 million square feet of facilities in the United States and Canada and employs more than 800 people. For more information visit www.buhlerindustries.com.
SOURCE: Buhler Industries News Release