WINNIPEG, MB, Sept. 15, 2020 /CNW/ - Ag Growth International
Inc. ("AGI" or the "Company") announced that on Friday September 11, 2020 a commercial grain
storage bin manufactured by the Company and located at a customer's
export terminal in North Vancouver,
BC, collapsed. The incident did not result in any
injuries.
The cause of and any responsibility for the incident is not yet
known, and as such the Company is not able to determine any costs
it may incur related to the incident.
The grain storage bin that collapsed is part of a new and
distinct product line that was developed and manufactured by the
Company for two significant commercial projects. 15 of these bins
are located at the facility where the incident occurred and an
additional 20 have been manufactured for another customer but have
not yet been commissioned. As part of its standard protocol, in
investigating this incident the Company will be investigating all
bins in the product line.
AGI Company Profile
AGI is a leading provider of solutions for the global food
infrastructure, including seed, fertilizer, grain, feed, and food
processing systems. AGI has manufacturing facilities in
Canada, the United States, the United Kingdom, Brazil, India, France
and Italy and distributes its
product globally.
Forward-Looking Information
This news release contains forward-looking statements and
information (collectively, "forward-looking information") within
the meaning of applicable securities laws that reflect the
Company's expectations regarding its future growth, results of
operations, performance, business prospects, and opportunities. All
information and statements contained herein that are not clearly
historical in nature constitute forward-looking information.
Forward-looking information involves known or unknown risks,
uncertainties and other factors that may cause actual results or
events to differ materially from those anticipated in such
forward-looking information. Undue reliance should not be placed on
forward-looking information, as there can be no assurance that the
plans, intentions or expectations upon which it is based will
occur. Such forward-looking information reflects AGI's current
beliefs and is based on information currently available to us.
Forward-looking information involves significant risks and
uncertainties. These risks and uncertainties are described under
"Risks and Uncertainties" in AGI's MD&A and in our most
recently filed Annual Information Form, all of which are available
under AGI's profile on SEDAR [www.sedar.com]. These factors should
be considered carefully, and readers should not place undue
reliance on AGI's forward-looking information. AGI cannot assure
readers that actual results will be consistent with this
forward-looking information. The forward-looking information
contained herein is expressly qualified in its entirety by this
cautionary statement. The forward-looking information included in
this press release is made as of the date of this press release and
AGI undertakes no obligation to publicly update such
forward-looking information or the results of its investigation or
other matters related to the incident to reflect new information,
subsequent events or otherwise unless so required by applicable
securities laws.
SOURCE Ag Growth International Inc. (AGI)