SCOTTSDALE, Ariz., April 07, 2021 (GLOBE NEWSWIRE) — AgJunction Inc. (TSX: AJX) (“AgJunction” or the “Company”) and Mahindra & Mahindra Ltd. (IN:MAHM) (“Mahindra”) are pleased to announce a joint project whereby Mahindra will demonstrate autosteering technology on a Hasret 125 Lüks CRD4 tractor, built by Erkunt Traktör Sanayii A.Ş in Turkey.
The demonstration will provide local growers a close look at key precision farming technologies, including auto-steering functions for precision planting and crop maintenance, auto eTurns™ and row headland process for managing field configurations, automated implement lift capability, and precision navigation using cellular enabled real-time kinematic GPS technology. The demonstration will be conducted over a six to eight-month period and cover all aspects of crop planting, tilling, fertilization, irrigation, and harvest leveraging the accuracy and continuity of the AgJunction precision guidance solution on the Mahindra Erkunt tractor.
The demonstration will be conducted with local farmers in the Afyonkarahisar Province of Turkey. AgJunction and Mahindra will provide training on precision farming techniques with experienced Turkish growers, using the latest available steering and tractor technologies. Local university students will be engaged to provide technical support and learn about the latest technologies in a hands-on environment.
“Precision farming using AgJunction technology can enable farms of all sizes to improve productivity and increase crop yields,” said Dr. M. Brett McMickell, president and CEO of AgJunction. “We look forward to working with Mahindra to improve the accessibility of precision agriculture globally.”
Commenting on the joint project, Ramesh Ramachandran, Sr. Vice President, FES Strategy & Head, Farming as a Service, Mahindra, stated: “Precision Farming technologies are needed by farmers globally to enhance crop yield and lower cost of cultivation. Through our work with AgJunction, we look forward to bringing these technologies at an affordable cost.”
AgJunction Inc. is a global leader of advanced guidance and autosteering solutions for precision agriculture applications. Its technologies are critical components in over 30 of the world’s leading precision Ag manufacturers and solution providers and it holds over 200 patents and patents pending. AgJunction markets its solutions under leading brand names including Novariant®, Wheelman®, Whirl™ and Handsfreefarm®. AgJunction is headquartered in Scottsdale, Arizona, and is listed on the Toronto Stock Exchange (“TSX”) under the symbol “AJX.” For more information, please go to AgJunction.com.
Mahindra & Mahindra Ltd. is part of The Mahindra Group, a USD 19.4 billion federation of companies that enables people to rise through innovative mobility solutions, driving rural prosperity, enhancing urban living, nurturing new businesses and fostering communities. It enjoys a leadership position in utility vehicles, information technology, financial services and vacation ownership in India and is the world’s largest tractor company by volume. It also enjoys a strong presence in renewable energy, agribusiness, logistics and real estate development. Headquartered in India, Mahindra employs over 256,000 people across 100 countries. Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise
This press release contains forward-looking information and forward-looking statements (collectively, “forward-looking information”) within the meaning of applicable securities laws and is based on the expectations, estimates and projections of management of AgJunction as of the date of this news release, unless otherwise stated. The use of any of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information. These statements are only predictions and actual events or results may differ materially. Although the Company’s management believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, performance or achievement since such expectations are inherently subject to significant business, economic, competitive and political uncertainties and contingencies. Accordingly, readers should not place undue reliance on such forward-looking information contained in this press release.
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.
Gateway Investor Relations
Cody Slach or Cody Cree