Lindsay Corporation Completes Sale of Watertronics and LAKOS Businesses
OMAHA, Neb.--(BUSINESS WIRE)--Aug 31, 2018--Lindsay Corporation (NYSE: LNN), a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology, today announced that it has completed the sale of its Watertronics and LAKOS businesses.
Watertronics is a designer and manufacturer of custom pumping solutions for Golf, Landscape, Municipal and Agricultural use. LAKOS is a producer of custom water filtration systems for commercial and residential use.
The sale is part of Lindsay Corporation’s Foundation for Growth initiative.
“Our Foundation for Growth strategy includes simplifying the way we conduct our business and aligning with a core focus on commercial irrigation and infrastructure,” said Tim Hassinger, President and CEO of Lindsay Corporation. “The sale of the Watertronics and LAKOS businesses helps us achieve those goals while maintaining water pumping and filtration as parts of our turnkey irrigation strategy through continuing commercial agreements with these businesses.”
About the Company
Lindsay Corporation is a leading global manufacturer and distributor of irrigation and infrastructure equipment and technology. The Lindsay family of irrigation brands includes Zimmatic ® and FieldNET ® as well as irrigation consulting, design, pump and filtration offerings, advanced machine-to-machine communication, remote control and monitoring technology, and wireless networking solutions. Also a global leader in the transportation industry, Lindsay Transportation Solutions manufactures equipment to improve road safety and keep traffic moving on the world’s roads, bridges and tunnels, through the Barrier Systems ®, Road Zipper ® and Snoline ™ brands. For more information about Lindsay Corporation, visit www.lindsay.com.
Concerning Forward-looking Statements
This release contains forward-looking statements that are subject to risks and uncertainties and which reflect management’s current beliefs and estimates of future economic circumstances, industry conditions, company performance and financial results. You can find a discussion of many of these risks and uncertainties in the annual, quarterly and current reports that the Company files with the Securities and Exchange Commission. Forward-looking statements include information concerning possible or assumed future results of operations of the Company and those statements preceded by, followed by or including the words “anticipate,” “estimate,” “believe,” “intend,” “expect,” “outlook,” “could,” “may,” “should,” “will,” or similar expressions. For these statements, the Company claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. The Company undertakes no obligation to update any forward-looking information contained in this press release.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180831005467/en/
CONTACT: Lindsay Corporation:
Brian Ketcham, 402-827-6579
Vice President & Chief Financial Officer
Halliburton Investor Relations:
Hala Elsherbini or Geralyn DeBusk, 972-458-8000
KEYWORD: UNITED STATES NORTH AMERICA NEBRASKA
INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING NATURAL RESOURCES AGRICULTURE OTHER NATURAL RESOURCES
SOURCE: Lindsay Corporation
Copyright Business Wire 2018.
PUB: 08/31/2018 04:15 PM/DISC: 08/31/2018 04:15 PM