(TSX: BUI)
WINNIPEG, MB, March 28,
2024 /CNW/ - Buhler Industries Inc. ("Buhler
Industries or the Company"), the manufacturer of Versatile and Farm
King brands of farm equipment, has made operational restructuring
changes in the first quarter of 2024 that is expected to result in
significant full year savings. The Company also plans to increase
production in 2024 over its 2023 results further resulting in
increased margins. Başak Traktör Tarim Ziraat Ve Iş Makinalari
Sanayi Ticaret A.Ş. (Basak Traktor), which recently acquired 96.7%,
is fully supportive of returning the Company back to profitability
and expects to see sales of both Versatile and Farm King equipment
increase in the coming years. Basak Traktor is a wholly-owned
subsidiary of ASKO Holding.
About Buhler Industries
Buhler Industries is headquartered in Winnipeg, Manitoba, Canada and is a publicly
traded Company on the TSX (TSX: BUI). The Company manufactures and
distributes its product through several brand names including
Versatile and Farm King. The Versatile line of equipment consists
of tractors and tillage. Farm King supplies augers, mowers, bale
carriers, snowblowers, and compact implements. The Company has
manufacturing facilities and warehouses in both Canada and the
United States.
Complete financial statement:
http://www.buhlerindustries.com/pages/investors.php
Trading symbol: BUI
Forward-looking statements: Certain statements made above
contain forward-looking statements including, but not limited to,
statements concerning possible or assumed future results of
operations of the Company. Forward-looking statements represent the
Company's intentions, plans, expectations and beliefs, and are not
guarantees of future performance. Such forward-looking statements
represent Buhler Industries current views based on information as
at the date of this report. They involve risks, uncertainties and
assumptions and the Company's actual results could differ, which in
some cases may be material, from those anticipated in these
forward-looking statements. Factors that could cause results to
differ from those expected include, but are not limited to: the
terms, availability and costs of acquiring raw materials and the
ability to pass on price increases to customers; ability to
negotiate contracts with new customers or renew existing customer
contracts with less favorable terms; timely response to changes in
customer product needs and market acceptance of our products; the
potential loss of business or increased costs due to customer or
vendor consolidation; competitive pressures, including new product
development; industry capacity, and changes in competitors'
pricing; ability to maintain or increase productivity levels;
ability to contain or reduce costs; foreign currency exchange rate
fluctuations; changes in governmental regulations, including
environmental, health and safety; changes in Canadian and foreign
income tax rates, income tax laws and regulations. Unless otherwise
required by applicable securities law, Buhler Industries disclaims
any intention or obligation to publicly update or revise this
information, whether as a result of new information, future events
or otherwise. The Company cautions investors not to place undue
reliance upon forward-looking statements.
SOURCE Buhler Industries Inc.