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AgJunction Announces Supply Agreement with New OEM Customer, PloegerSCOTTSDALE, Ariz., Dec. 02, 2020 (GLOBE NEWSWIRE) -- AgJunction Inc. (TSX: AJX) ("AgJunction" or the "Company") announced today that it has signed a supply agreement with a new Dutch OEM customer, Ploeger Oxbo Group BV (“Ploeger”) to provide auto steering systems for their CM4240 self-propelled silage merging device. In anticipation of the partnership with AgJunction, Ploeger has integrated AgJunction’s autosteering hardware and software models in this new silage merging device. Based on the success of this first integration, AgJunction and Ploeger are exploring expanding autosteering to additional vehicles. “Ploeger was able to quickly integrate our autosteering module through our customer API,” said Luke McBeath, AgJunction’s Senior Director of Engineering. “Our customer API will allow them to continue to improve functionality and user experience.” “AgJunction’s autosteer system was easy for us to integrate into our new CM4240 silage merging device,” said Niels Havermans, Ploeger’s CCO. “We are excited to offer autosteering in our CM4240, which will improve the functionality of the vehicle and provide drivers with increased comfort. We are testing the autosteering system this season and expect to have a commercial version available for several of our machines in Q2 2021.” M. Brett McMickell, AgJunction’s President and CEO, said of the new signing, “Ploeger’s rapid adoption of AgJunction’s autosteering system demonstrates the strength of our refined strategy. AgJunction provides the flexibility needed for manufacturers to rapidly integrate proven automation consistent with their unique strategies that accelerates the speed to market.” About AgJunction About The Ploeger Oxbo Group Forward-Looking Statements In respect of the forward-looking information, AgJunction has provided such information in reliance on certain assumptions that it believes are reasonable at this time, including, but not limited to, the sufficiency of budgeted capital expenditures in carrying out planned activities; that AgJunction's future results of operations will be consistent with management expectations in relation thereto; availability of key supplies, components, services, networks and developments; the impact of increasing competition; conditions in general economic, agricultural and financial markets; demand for the Company's products; and the continuity of existing business relationships. Since forward-looking information addresses future events and conditions, such information by its very nature involves inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. These include, but are not limited to the risks associated with the industries in which AgJunction operates; competition; inability to introduce new technology and new products in a timely manner; legal claims for the infringement of intellectual property and other claims; negative conditions in general economic, agricultural and financial markets; and reduced demand for the Company's products. Readers are cautioned that the foregoing list of factors is not exhaustive. Additional information on other factors that could affect the Company's operations or financial results, are included in reports of AgJunction on file with applicable securities regulatory authorities, including but not limited to, AgJunction's Annual Information Form which may be accessed on its SEDAR profile at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof and AgJunction undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Contact: Media Investor Relations |