The signature of national capitals Crucianellione of the leaders in the business of seeders, went out to look for financing to the capital market to leverage its expansion plan with which aims to manufacture 1,500 seeders by 2030.
More specifically, the cCompany headed by the Crucianelli family, launched Negotiable Obligations (ON) for US$4 million, extendable up to US$7 million and according to the issue prospectus, the money raised will be allocated to investments in machinery, equipment and infrastructure works for the fulfillment of its 2030 Strategic Plan. The objective of this plan is to position itself as one of the top 5 agricultural machinery manufacturing companies globally.
This is the second time that the company, which has its base of operations in the city of Armstrong, province of Santa Fe, has turned to the capital market. The previous time was in 2021 and at that time it placed negotiable obligations for $50 million.
The peculiarity on this occasion is that the The agricultural machinery sector is going through a complex contextwith a drop in sales largely due to the decline in international commodity prices and the increase in the gap between the official dollar and the parallel market. Producers are delaying the decision not only to sell grains, but also to invest for equipment renewal.
Despite this scenario, Crucianelli remains firm in its expansion plan that it undertook years ago, with which it seeks not only to consolidate itself as a leader in the local market for seeders but also with exports to destinations such as Eastern Europe, Central Asia and Latin America.
Within this business plan, at the beginning of the year the company bought 100% of the share package of Fertec, a leading company at national level in the fertilization segment and that is why it now also offers self-propelled and trailed fertilizer spreaders; in parallel, it acquired a percentage of the shareholding of DeepAgro, an artificial intelligence company focused on agriculture.
Another key issue is that This year it also partnered with the Piccin group to start manufacturing planters in Brazil.which would be the first step to becoming a multinational.
Locally, the company operates in the provinces of Buenos Aires, Chaco, Córdoba, Entre Ríos, La Pampa, San Luis, Santa Fe, and Santiago del Estero, where it has a network of 70 dealerships.
Crucianelli currently employs 520 people and has an annual turnover of US$150 million from the planter factory alone. It also has businesses in casting, sheet metal processing and precision agriculture. It exports equipment and parts to Uruguay, Bolivia, Brazil, Bulgaria, Russia, South Africa and Angola. Its projection for 2030 is to invoice between US$250 million and US$270 million and that is why it remains firm in its search for financing to leverage this ambitious business plan.
Source: Ambito
