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BRIEF-AGI Provides Update On Grain Bin Incident And Confirms Financial Guidance

Published 2021-01-20, 06:59 p/m
© Reuters.
AFN
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Jan 20 (Reuters) - Ag Growth International Inc AFN.TO :

* AGI PROVIDES UPDATE ON GRAIN BIN INCIDENT AND CONFIRMS FINANCIAL GUIDANCE

* AG GROWTH INTERNATIONAL-DETERMINED TO PROCEED WITH REPLACING ENTIRE HOPPER BASE OF GRAIN BINS AS OPPOSED TO REPLACING COMPONENTS OF EXISTING STRUCTURE

* CAUSE OF, AND RESPONSIBILITY FOR, INCIDENT HAS NOT BEEN DETERMINED

* COMPANY CONTINUES TO PROCEED ON BASIS OF PROVIDING FULL REMEDIATION TO TWO AFFECTED CUSTOMER SITES

* MANAGEMENT EXPECTS 2021 RESULTS TO EXCEED 2020 RESULTS IN BOTH SALES AND ADJUSTED EBITDA WITH STRONG PERFORMANCE IN H1

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