The Company’s decrease in sales levels is the result of supply chain issues experienced during
the quarter and not a result from the lack of demand as it remains very high.
Buhler Industries, manufacturer of the Versatile and Farm King ag equipment brands, released a list of answers on March 23 to frequently asked questions regarding the company's ownership and management.
Revenue for the fifteen-month period was C$317.2 million ($253.5 million), up C$67.6 million ($50 million) from sales of $249.6 million ($199.5 million) in 2020. The Company’s increased sales growth for the period primarily results from the accounting change to a December year-end in 2021.
The Board of Directors has accepted the resignation of Konstanin Babkin. Babkin has been a vocal supporter of the actions taken by the Russian Federation.
According to a report from CBC, Buhler Industries was not named on a sanctions list from the Canadian government in response to the ongoing Russo-Ukrainian War.
The Russo-Ukrainian War began Feb. 24, 2022, with the Russian invasion of Ukraine and has caused a series of problems for ag equipment manufacturers, dealers and farmers operating in the country.
Buhler Industries Inc. (TSX: BUI) is strongly opposed to this action and does not condone this attack. The Executive team of Buhler Industries is united in the condemnation of the actions taken by the Russian Federation.
The Purchaser acquired an aggregate of 4,083,886 Buhler Industries Shares at a price of $3.00 per Buhler Industries Share for an aggregate purchase price of $12,251,658.
Buhler Industries, which manufactures the Versatile and Farm King brands of equipment, reported 2021 fourth quarter revenue of $46 million, down 8.5% from $51 million in the fourth quarter of 2020.
Revenue for the quarter was $79.2 million, up $2.6 million from the prior year third quarter, representing an 3% increase over the prior year and continuing the sales growth seen in the first two quarters.
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