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.
According to a report from West Central Tribune, Buhler Industries, manufacturer of the Farm King line of equipment, has announced it will move production from its plant in Willmar, Minn. to Morden in Manitoba, with production in Willmar slated to end in early 2021.
The Russian owner of Buhler Industries has increased the domestic content of its Versatile-based tractors sold in Central and Eastern Europe and plans to introduce CKD assembly of Versatile MFWD and the new Nemesis models.
Buhler Industries, the manufacturer of the Versatile and Farm King line of agriculture equipment, reported its year-end earnings on Dec. 30, 2019. Revenue for the year was $229.1 million, down $58.9 million or 25.7% from sales of $288.0 million in 2018.
Reductions in headcount and other measures to improve cost efficiency concluded a tough year for staff and management at Buhler Industries, which has reported the company’s biggest ever financial loss and a C$24 million or more than 7% drop in revenues for 2018 from the year prior.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Howard Buffett talks about getting tractors and combines to Ukrainian farmers. In the Technology Corner, Noah Newman examines how the 360 Rain system boosts yields by over 65 bushels per acre. Also in this episode, the potential peak for large ag equipment sales, layoffs at Hutson Inc., 'Made in USA' equipment influence and AGCO's latest earnings report.