BUHLER INDUSTRIES STREAMLINES OPERATIONS

Canada NewsWire

WINNIPEG, MB, March 28, 2024

(TSX: BUI)

WINNIPEG, MB , March 28, 2024 /CNW/ - Buhler Industries Inc. ("Buhler Industries or the Company"), the manufacturer of Versatile and Farm King brands of farm equipment, has made operational restructuring changes in the first quarter of 2024 that is expected to result in significant full year savings. The Company also plans to increase production in 2024 over its 2023 results further resulting in increased margins. Başak Traktör Tarim Ziraat Ve Iş Makinalari Sanayi Ticaret A.Ş. (Basak Traktor), which recently acquired 96.7%, is fully supportive of returning the Company back to profitability and expects to see sales of both Versatile and Farm King equipment increase in the coming years. Basak Traktor is a wholly-owned subsidiary of ASKO Holding.

Buhler Industries is headquartered in Winnipeg, Manitoba, Canada and is a publicly traded Company on the TSX (TSX: BUI). The Company manufactures and distributes its product through several brand names including Versatile and Farm King. The Versatile line of equipment consists of tractors and tillage. Farm King supplies augers, mowers, bale carriers, snowblowers, and compact implements. The Company has manufacturing facilities and warehouses in both Canada and the United States .

Complete financial statement: http://www.buhlerindustries.com/pages/investors.php

Trading symbol: BUI

Forward-looking statements: Certain statements made above contain forward-looking statements including, but not limited to, statements concerning possible or assumed future results of operations of the Company. Forward-looking statements represent the Company's intentions, plans, expectations and beliefs, and are not guarantees of future performance. Such forward-looking statements represent Buhler Industries current views based on information as at the date of this report. They involve risks, uncertainties and assumptions and the Company's actual results could differ, which in some cases may be material, from those anticipated in these forward-looking statements. Factors that could cause results to differ from those expected include, but are not limited to: the terms, availability and costs of acquiring raw materials and the ability to pass on price increases to customers; ability to negotiate contracts with new customers or renew existing customer contracts with less favorable terms; timely response to changes in customer product needs and market acceptance of our products; the potential loss of business or increased costs due to customer or vendor consolidation; competitive pressures, including new product development; industry capacity, and changes in competitors' pricing; ability to maintain or increase productivity levels; ability to contain or reduce costs; foreign currency exchange rate fluctuations; changes in governmental regulations, including environmental, health and safety; changes in Canadian and foreign income tax rates, income tax laws and regulations. Unless otherwise required by applicable securities law, Buhler Industries disclaims any intention or obligation to publicly update or revise this information, whether as a result of new information, future events or otherwise. The Company cautions investors not to place undue reliance upon forward-looking statements.

SOURCE Buhler Industries Inc.