AgJunction Announces Supply Agreement with New OEM Customer, Ploeger
SCOTTSDALE, AZ, December 2, 2020
AgJunction Inc. (TSX: AJX) ("AgJunction" or the "Company") announced today that it has signed a supply agreement with a new Dutch OEM customer, Ploeger Oxbo Group BV (“Ploeger”) to provide auto steering systems for their CM4240 self-propelled silage merging device.
In anticipation of the partnership with AgJunction, Ploeger has integrated AgJunction’s autosteering hardware and software models in this new silage merging device. Based on the success of this first integration, AgJunction and Ploeger are exploring expanding autosteering to additional vehicles.
“Ploeger was able to quickly integrate our autosteering module through our customer API,” said Luke McBeath, AgJunction’s Senior Director of Engineering. “Our customer API will allow them to continue to improve functionality and user experience.”
“AgJunction’s autosteer system was easy for us to integrate into our new CM4240 silage merging device,” said Niels Havermans, Ploeger’s CCO. “We are excited to offer autosteering in our CM4240, which will improve the functionality of the vehicle and provide drivers with increased comfort. We are testing the autosteering system this season and expect to have a commercial version available for several of our machines in Q2 2021.”
M. Brett McMickell, AgJunction’s President and CEO, said of the new signing, “Ploeger’s rapid adoption of AgJunction’s autosteering system demonstrates the strength of our refined strategy. AgJunction provides the flexibility needed for manufacturers to rapidly integrate proven automation consistent with their unique strategies that accelerates the speed to market.”
AgJunction Inc. is a global leader of advanced guidance and autosteering solutions for precision agriculture applications. Its technologies are critical components in over 30 of the world’s leading precision Ag manufacturers and solution providers and it holds over 200 patents and patents pending. AgJunction markets its solutions under leading brand names including Novariant®, Wheelman®, Whirl™ and Handsfreefarm® and is committed to advancing its vision by bringing affordable hands-free farming to every farm, regardless of terrain or size. AgJunction is headquartered in Scottsdale, Arizona, and is listed on the Toronto Stock Exchange (TSX) under the symbol “AJX.” For more information, please go to AgJunction.com.
About The Ploeger Oxbo Group
Ploeger Oxbo Group develops and manufactures a wide range of specialised agricultural equipment. These brands The Bourgoin, Oxbo and Ploeger brands have their roots in harvesters for vegetables, corn, fruit and root crops. More recently the product range has been extended with fertilizer spreaders and sprayers, industrial applicators and forage equipment. The equipment is manufactured at seven locations in Europe, the US and Brazil and is sold through the company's own branch offices, dealers and agents in 40 countries on all continents. The Ploeger Oxbo Group employs 700 staff and has an annual turnover of over 200 million euros. The head office is located in Roosendaal, the Netherlands.
This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking information") within the meaning of applicable securities laws and is based on the expectations, estimates and projections of management of AgJunction as of the date of this news release, unless otherwise stated. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information. These statements are only predictions and actual events or results may differ materially. Although the Company’s management believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, performance or achievement since such expectations are inherently subject to significant business, economic, competitive and political uncertainties and contingencies. In particular, forward-looking statements in this press release include, but are not limited to statements with respect to: the Company’s vision with respect to autosteering for farmers and the expectation that regular updates will be pushed out to the app ensuring farmers can always operate their Wheelman products with the most up-to-date technology. Accordingly, readers should not place undue reliance on such forward-looking information contained in this press release.
In respect of the forward-looking information, AgJunction has provided such information in reliance on certain assumptions that it believes are reasonable at this time, including, but not limited to, the sufficiency of budgeted capital expenditures in carrying out planned activities; that AgJunction's future results of operations will be consistent with management expectations in relation thereto; availability of key supplies, components, services, networks and developments; the impact of increasing competition; conditions in general economic, agricultural and financial markets; demand for the Company's products; and the continuity of existing business relationships.
Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to the risks associated with the industries in which AgJunction operates; competition; inability to introduce new technology and new products in a timely manner; legal claims for the infringement of intellectual property and other claims; negative conditions in general economic, agricultural and financial markets; and reduced demand for the Company's products. Readers are cautioned that the foregoing list of factors is not exhaustive.
Additional information on other factors that could affect the Company's operations or financial results, are included in reports of AgJunction on file with applicable securities regulatory authorities, including but not limited to, AgJunction's Annual Information Form which may be accessed on its SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and AgJunction undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Gateway Investor Relations
Cody Slach, Managing Director