GPS lines united
CSI Wireless Inc. has bought the Outback line of global positioning guidance products for agriculture from RHS Inc. of Kansas.
The Outback business will be combined with CSI’s GPS business unit to create Hemisphere GPS, which will market Satloc and Outback branded products.
CSI paid 4.4 million common shares of CSI Wireless and a cash note worth about $9.6 million US.
“Combined, we become the industry leader in agricultural GPS products, with strong R&D capabilities, marketing and sales strength and distribution channel expertise,” Stephen Verhoeff, president and chief executive of CSI, said in a News release
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Rick Heiniger, chief executive of RHS Inc., will be appointed president of Hemisphere GPS, and Dean Ryerson, RHS’ president, will be responsible for Hemisphere’s combined operating functions as vice-president and general manager.
Canbra upgrades plant
Canbra Foods is spending $8 million to upgrade its canola crushing plant in Lethbridge.
The company said the project will increase plant capacity only marginally, but will produce major efficiency gains and will position Canbra to expand its crush capacity in the future.
Efficiency will be increased in the initial processing steps where canola seed is conditioned and oil extracted.
“The upgrade will reduce energy consumption and the emission of particulates and odour into the atmosphere,” vice-president and general manager Pat Van Osch said in a News release
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“This project clearly indicates Canbra’s commitment to the canola processing business and to the plant in Lethbridge,” added Curt Vossen, president of James Richardson International Ltd., which owns Canbra Foods.
Buhler’s quarterly profit climbs
Buhler Industries’ profits rose by 4.2 percent to $4.1 million in the second quarter compared to last year at the same time.
The Winnipeg company, which makes tractors and farm implements, saw its revenue climb by 2.2 percent to $64 million in the quarter that ended March 31.
“Our current order backlog varies from product to product and ranges from stronger than normal to weaker than normal,” it said.
Over six months the company’s revenue is about $110 million compared to $105 million last year. The six month profit is $5.73 million compared to $6 million last year.
“Due to the uncertain, long-term reaction of our customers to our increased 2005 prices, we continue to forecast flat or slightly improved annual revenues in spite of the increases we experienced during the first two quarters of this year,” the release said.
Rising steel costs prompted the company to increase its prices.
