“Our customers value the ability to collect data from their equipment and to use it to improve the safety, efficiency, and profitability of their operations. "We continue to be committed to AGI Digital and are excited about the role it plays as a strategic differentiator for AGI," said Paul Householder, President and CEO of AGI. The impairment is a non-cash charge that will be adjusted, as necessary, and finalized in the first half of 2023. As part of the AGI Digital reorganization plan, the Company is also expecting an impairment charge on goodwill and intangible assets in the range of $65 to $80 million to be recorded in the fourth quarter of 2022. Beginning in the first quarter of 2023, the reorganization will impact approximately 3% of our total workforce and result in an anticipated $8 million severance charge being recorded in AGI’s financial statements for the fourth quarter of 2022. The strategic plan will focus on core markets and products, reduce operating costs, and improve AGI Digital financial performance. (“AGI”, the “Company”, "we", or "our") (TSX: AFN) today announced a revised strategic plan to reorganize and reposition the AGI Digital business segment for operational excellence and future profitability. Winnipeg, MB, Decem– After a comprehensive review, Ag Growth International Inc. This includes technologies to safely monitor and automate in-bin grain quality by smart device and real-time data collection of in-field agronomic and machine practices. AGI offers one of the most diverse catalogs of farm equipment and accessories for the storage, handling, and conditioning of bulk grain commodities.
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