Producers around the world benefit from
strategic investment in agricultural solutions
OMAHA,
Neb., Jan. 6, 2025 /PRNewswire/ -- Lindsay
Corporation (NYSE: LNN), a leading global manufacturer and
distributor of irrigation and infrastructure equipment and
technology, today announced it has completed its acquisition of a
49.9 percent minority interest in Austria-based Pessl Instruments.
The investment in Pessl, a global provider of advanced
technology solutions, helps advance Lindsay's efforts to drive
significant investment and innovation in AgTech and address the
food, fuel, and fiber demands of the world's growing
population.
The strategic partnership between Lindsay and Pessl has evolved
and progressed since it was announced in May
2023, and producers are gaining significant advantage from
the integration. Growers utilizing Lindsay's award-winning
FieldNET™ and FieldNET Advisor™ remote irrigation management
platforms, in conjunction with Pessl's METOS™ weather stations,
soil moisture probes, and data-driven FieldClimate software,
benefit from advanced agronomic solutions. By combining these
innovative tools, producers worldwide have access to a vast array
of data points from in-field sensors, enabling them to make
informed decisions that promote healthy crops, optimize inputs like
water, fertilizer, and pesticides, and achieve higher yields.
"With this investment, Lindsay will strengthen its position as
the leading irrigation management and scheduling solution provider
in the industry," said Randy Wood,
Lindsay President and CEO. "No other
company has the same ability to connect on-farm equipment, in-field
sensors and remote sensing assets to provide producers with
affordable and scalable solutions. We are excited about the
incredible potential that our investment in Pessl brings, as we
continue to collaborate on the development of new AI-based products
to add to our suite of Smart Pivot Solutions."
Pessl boasts more than one million sensors connected to 100,000
in-field data collection devices globally, with 50,000 active
customers using its FieldClimate online interface. These connected
devices include weather stations, soil moisture probes, insect
monitoring traps, crop monitoring cameras, soil and nutrient
sampling, machine and asset trackers, providing key agronomic
health indicators.
"We are honored to be part of the Lindsay team. We will
work to connect with producers worldwide and demonstrate how they
can leverage the combined potential of FieldNET, the most robust
and fully vertically integrated water management platform in the
industry, and METOSTM hardware and software solutions,"
said Gottfried Pessl, Chief
Executive Officer and Founder of Pessl Instruments. "We are excited
to continue to drive innovation in AgTech and provide producers
with advanced tools to enhance their productivity and
efficiency."
Lindsay's agreement to make this investment was previously
announced on April 3, 2024, and was
subject to customary closing conditions including regulatory
approvals. As previously disclosed, Lindsay also has an option to
acquire the remainder of Pessl at a later date.
For more on Lindsay's advanced solutions for ag producers
worldwide, visit lindsay.com/irrigation.
About Lindsay Corporation
Lindsay Corporation (NYSE: LNN) is a leading global manufacturer
and distributor of irrigation and infrastructure equipment and
technology. Established in 1955, the company has been at the
forefront of research and development of innovative solutions to
meet the food, fuel, fiber and transportation needs of the world's
rapidly growing population. The Lindsay family of irrigation brands
includes Zimmatic™ center pivot and lateral move agricultural
irrigation systems, FieldNET™ and FieldWise™ remote irrigation
management technology, FieldNET Advisor™ irrigation scheduling
technology, and industrial IoT solutions. Also a global leader in
the transportation industry, Lindsay Transportation Solutions
manufactures equipment to improve road safety and keep traffic
moving on the world's roads, bridges and tunnels, through the
Barrier Systems™, Road Zipper™ and Snoline™ brands. For more
information about Lindsay Corporation, visit www.Lindsay.com.
FieldNET, FieldNET Advisor, FieldWise, Zimmatic, Barrier
Systems, Road Zipper, and Snoline are trademarks or registered
trademarks of Lindsay Corporation and/or its affiliates.
About Pessl Instruments GmbH
For more than 40 years, Pessl has been offering tools for
informed decision-making. A complete range of wireless, solar
powered monitoring systems under the METOS™ brand, and an
online platform FieldClimate are applicable in all climate zones,
in more than 25 languages and can be used in various industries and
for various purposes – from agriculture to research, hydrology,
meteorology, flood warning, snow removal, sports turf, smart city
and many more. Over the years, METOS has become a global brand
with local support and has managed to reach out to almost every
corner of the world. The METOS brand lasts longer, performs
better, is easier to use and offers you the lowest total cost of
ownership. For more information about Pessl,
visit www.metos.global.
FieldClimate and METOS are trademarks of Pessl Instruments GmbH
and/or its affiliates.
This release contains forward-looking statements that are
subject to risks and uncertainties, such as the satisfaction of the
transaction's customary closing conditions including regulatory
approvals, and which reflect management's current beliefs and
estimates of future economic circumstances, industry conditions,
company performance, and financial results. You can find a
discussion of many of these risks and uncertainties in the annual,
quarterly and current reports that Lindsay Corporation files with
the Securities and Exchange Commission. Forward-looking statements
include information concerning possible or assumed future results
of operations and those statements preceded by, followed by or
including the words "anticipate," "estimate," "believe," "intend,"
"expect," "outlook," "could," "may," "should," "will," or similar
expressions. For these statements, Lindsay Corporation claims the
protection of the safe harbor for forward-looking statements
contained in the Private Securities Litigation Reform Act of 1995.
Lindsay Corporation undertakes no obligation to update any
forward-looking information contained in this press
release.
CONTACT: Tara Meier,
Lindsay Corporation, tara.meier@lindsay.com, (531)
236-9979
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SOURCE Lindsay Corporation