Bevo Agro Inc.
(BVO:TSX-Ven.) is pleased to announce that it has completed
expansion of an 11.5 acre addition and installation of
another alternative fuel system to its Langley propagation
plant. Bevo now has 34 acres of propagation area. The
increased space has allowed the company to enter into new
contracts with growers.
Bevo's previous expansions of
6.5 acres in 2000 and 5 acres in 2001 have increased sales
from $7.0 million in 1999. The need for increased
space results from client expansions which require more
seedlings, Bevo's introduction of improved products such as
grafted tomato plants as well as the increases in flower and
bedding plant sales. The $5.0 million of flower and bedding
plants shipped in the first six weeks of the fourth quarter
exceeds 2003 fourth quarter flower and bedding plant revenues.
Combined with expansion, the two
alternative fuel systems will eliminate dependency on natural
gas. Using current gas prices, alternative fuel is estimated
to save $5,000 per day in heating costs during peak periods.
Bevo Agro
is North America's leading supplier of propagated
agricultural plants, growing and distributing vegetable,
flower, berry and other plant seedlings to North America's
growers. Bevo propagates quality seedlings and plants
primarily for wholesale vegetable greenhouse growers, field
growers and nursery operators from its 34 acre production
facility.