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Article: Ag Growth Acquires Applegate Steel
- Article from:
- CCNMatthews Newswire
- Article date:
- January 15, 2008
CopyrightCopyright 2008 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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WINNIPEG, MANITOBA--(Marketwire - Jan. 15, 2008) - Ag Growth
Income Fund (TSX:AFN.UN) ("Ag Growth" or the "Fund") announced today
it has entered into an agreement to acquire substantially all of the
operating assets of Applegate Steel Inc. ("Applegate") of Saratoga,
Indiana, for USD $3.0 million.
Applegate manufactures livestock gates, panels, feeders and stock
tanks at locations in Indiana and Iowa. Revenues from Applegate's
business over the last number of years have ranged from USD $9
million to over USD $12 million.
Ag Growth did not purchase Applegate's manufacturing facility in
Saratoga, Indiana, but instead will move manufacturing operations to
Union City, Indiana. The Fund acquired a ...