Buhler Industries Inc. (TSX: BUI) has announced the sale of one of its subsidiaries, BMW MachineWorks Ltd. to a company controlled by Canadian Tool & Die Ltd. for an undisclosed amount. The move will enable the company to focus more resources on the core business of manufacturing and marketing of farm equipment.
“The sale of BMW MachineWorks Ltd. represents a fresh direction in company philosophy,” said Dr. Ossama AbouZeid, President and Chief Financial Officer of Buhler Industries Inc. “Instead of allocating time and resources to producing components, we can focus our energy on building and distributing products.”
“All employees will remain employed with BMW MachineWorks Ltd., with no loss of benefits,” Dr. AbouZeid continued.
Under the new ownership BMW MachineWorks Ltd. will continue to be a key supplier of components to Buhler Industries Inc.
Buhler Industries Inc. (TSX: BUI) designs, manufactures and distributes agricultural equipment. The products are marketed under the Buhler® brand name, including the Farm King®, Allied®, Inland® and Versatile® product lines. Buhler Industries Inc. operates seven modern manufacturing and nine distribution centers totaling over 1.6 million square feet of facilities in the United States and Canada and employs more than 800 people. For more information visit www.buhler.com.
Established in 1947 The Canadian Tool & Die Ltd. (CTD) Group is a key supplier to the North American agricultural and industrial manufacturing sectors. CTD specializes in hubs, wheels, spindles, hydraulic cylinders, and custom machining for both agricultural and industrial machinery manufacturers as well as gray and ductile castings through our metal casting foundry (Integra Castings) and implement hitches through our sister company Power Pin. For more information visit www.ctd.mb.ca.
Buhler Industries Inc
Ossama AbouZeid (204) 654-5710
John Buhler (204) 654-5700
oabouzeid@buhler.com
Trading symbol: BUI