LANGLEY, BC, Dec. 15, 2015 /CNW/ - Bevo Agro Inc. (TSXV: BVO) announces plans for an eight acre expansion to its Langley, BC propagation facility. Once complete, Bevo's facilities will encompass approximately 53 acres of state-of-the-art greenhouses. The total costs are estimated at $8.0 million which Bevo anticipates will be financed through a combination of new debt and internal resources.
Bevo's expansions are driven by increasing client demands for quality, disease free propagated greenhouse and production crops.
Bevo Agro is North America's leading supplier of propagated agricultural plants, operating 45 acres of greenhouse facilities on 98 acres of land in Langley, BC and 20 acres of land in Pitt Meadows, BC. The Company's main products are the propagation of vegetable plants such as tomatoes, peppers, cucumbers, and other plants such as bedding plants, flowers and grasses. The Company markets its products to established greenhouse growers, nurseries and retail outlets throughout North America. The majority of Bevo's sales result from repeat orders through recurring multiyear contracts.
Bevo has achieved a ranking in the 2015 TSX Venture 50® which recognizes the strongest companies on TSXV by share price, trading volume, market capitalization and analyst coverage. The winning companies have seen impressive growth over the past year, offered strong return to their shareholders and are actively traded in the market.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Bevo Agro Inc.
For further information: Jack Benne, President, Bevo Agro Inc., Phone: (604) 888-0420, Fax: (604) 888-8048, Email: [email protected]