AgriEuro Corp. Has Sold Out Its Reed Harvest And Announces Expansion Plans
BUCHAREST, Romania, March 30, 2017 /PRNewswire/ -- AgriEuro.Corp. (OTCPK: EURI) today announced that after processing reed during all of summer, the company has sold out its entire harvest for the year.
AgriEuro Corp is now shipping the last of customers' orders and expects to complete the delivery of the last bundles in the next few days.
AgriEuro Corp plans to place an order for 2 additional Seiga machines in the coming months (specialized equipment used for harvesting reed) and believes it will be able to triple current production for the next harvest.
"Our product is highly coveted on the international markets and we are still turning customers away as we are not able to meet the strong demand. This is why we decided to move forward with purchasing new harvesting machines," said Radu Cosmin Monda, Chief Executive Officer of AgriEuro Corp.
The company has also begun working on a housing project in Germany. Four thatchers have been dispatched there to work on a historic property. They will work on rebuilding the roof using AgriEuro reed.
The company is receiving interest from several other historic property owners, including government-owned buildings for specialized thatching work.
"Reed is a material that has been used for centuries, and that is still unparalleled in terms of natural insulation, pricing, and overall efficacy. There are however not many professional thatchers left, and this is an area which we are investing into. We plan to train (in-house) and deploy thatchers all across Europe to work on projects like these," added Mr. Monda.
About AgriEuro Corp
AgriEuro Corp operates in the agricultural, aquaculture and tourism industry in Europe. The company's flagship property is located at the junction of the Danube delta and the Black Sea and encompasses a variety of currently revenue-producing and soon-to-be producing businesses. It spans over 4,200 acres on a Unesco World Heritage site. Investors can visit the company's website at www.AgriEuroCorp.com.
Forward-Looking Statements
This release contains forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility that some or all of the matters and transactions considered by AgriEuro Corp may not proceed as contemplated, and by all other matters and assumptions specified in AgriEuro's filings with the Securities and Exchange Commission, especially those risks and other matters described under "Risk Factors" within AgriEuro's Form 10-Q filed with the Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. AgriEuro does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information.
SOURCE AgriEuro Corp
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