Art's Way Manufacturing Announces New Grain Auger Manufacturing Location
3rd December, 2008
Art's Way Manufacturing, Inc. (Nasdaq: ARTW), a leading manufacturer and distributor of agricultural machinery, equipment and services announces the company's formation of a new location specializing in the manufacturing of grain augers. Art's Way Manufacturing's new location is 351 South Douglas Street, Salem, South Dakota.
Art's Way created this new location for the purpose of vertically expanding the Company's industry leadership in manufacturing and distributing of agricultural machinery, equipment, parts and services. The location was chosen due to the abundance of experienced and skilled, yet unemployed, auger markers in Salem, South Dakota. It was a group of these workers who approached Art's Way to enter the business and this new portable auger division comes as a result of their efforts and Art's Way's recognition of the time sensitive opportunities in the top and bottom drive grain auger marketplace.
J. Ward McConnell, Jr., Chairman of the Board, said, "We are extremely pleased to now be in the portable top and bottom drive auger business and to help create more jobs in rural South Dakota. This new location lends itself perfectly to our growing product line of innovative agricultural equipment. We are fortunate to step in and fill a recent void and have available to us such a knowledgeable and willing work force. We are confident Art's Way Auger will contribute to the Company's overall revenue and income growth in 2008 and beyond. Our immediate focus will be to meet the urgent needs for parts, finished products and service of the dealers and farmers in the marketplace. As always, we continue to focus on exceeding our customers' expectations and increasing shareholder value."
About Art's Way Manufacturing, Inc.
Art's Way manufactures and distributes farm machinery niche products including animal feed processing equipment, sugar beet defoliators and harvesters, land maintenance equipment, crop shredding equipment, plows, hay and forage equipment and top and bottom drive augers. After market service parts are also an important part of the Company's business. We have two wholly owned subsidiaries. Art's Way Vessels Inc. manufactures pressurized tanks and vessels; Art's Way Scientific Inc. manufactures modular animal confinement buildings and modular laboratories.
This news release includes "forward-looking statements" within the meaning of the federal securities laws. Statements of anticipated future results are based on current expectations and are subject to a number of risks and uncertainties, including but not limited to, quarterly fluctuations in results, customer demand for the Company's products, domestic and international economic conditions, the management of growth and other risks detailed from time to time in the Company's Securities and Exchange Commission filings. Actual results may differ markedly from management's expectations. The Company cautions readers not to place undue reliance upon any such forward-looking statements.
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