Agria Comments on Impact to Operations From Flooding in Uruguay
(firmenpresse) - HONG KONG -- (Marketwired) -- 04/20/16 -- Agria Corporation (NYSE: GRO) (the "Company" or "Agria") today commented on the impact to the South American operations of its subsidiary, PGG Wrightson ("PGW"), from widespread flooding in the Colonia region of Uruguay.
PGW experienced physical damage to offices and the machine processing room at its seed cleaning site near Rosario. The extent of damage will not be known until floodwaters recede, but the Company expects minimal physical damage and a manageable loss of seed. The Company noted that all staff was safely evacuated from the site before the flooding began.
Although no material financial impact is expected, the Company is closely monitoring the impact to soybean and sorghum grain yields throughout the country. Reduced yield could negatively impact farm income, affecting sales of seed for autumn re-grassing and other farm input products.
Alan Lai, Executive Chairman of the Company, commented, "Our first priority was the safe evacuation of our staff from the Rosario facility. Fortunately we do not expect any material financial impact from the immediate physical damage caused by the floods.
"While we are cautious about the broader impact on the autumn selling season, PGW''s full year operating EBITDA expectations are unchanged. The flooding may pressure PGW''s results in South America to the lower end of our expected range, but we continue to see strong results in Australia and New Zealand. With the exception of PGW Water, all of PGW''s business segments there are performing as planned, sustaining our confidence in the outlook for the year."
Agria (NYSE: GRO) is a global agricultural company with three principal business segments: Seed and Grain; Crop Protection, Nutrients and Merchandise; and Rural Services. The Seed and Grain segment is engaged in research and development, production and sale of a broad range of seed products and trading of seed and grain products globally. The Crop Protection, Nutrients and Merchandise segment operates an extensive chain of retail stores that supply farm input materials. The Rural Services segment provides livestock trading, wool trading, irrigation and pumping, real estate agency and other agriservices. For more information about Agria Corporation, please visit .
This announcement contains forward-looking statements. These statements, including the management''s commentary, are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Agria may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 20-F and 6-K, etc., in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about Agria''s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, those risks outlined in Agria''s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this announcement unless otherwise stated and Agria does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
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Datum: 20.04.2016 - 10:26 Uhr
Sprache: Deutsch
News-ID 1429424
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