Wingara Ag Ltd. ( (AU:WNR) ) has issued an announcement.
Wingara AG Limited has announced the sale of its Export Hay Press and related equipment for AUD $750,000 plus GST, pending shareholder approval. This decision is driven by challenging market conditions and the need for operational efficiencies, as the current equipment is not meeting throughput demands. The sale is supported by major shareholder NAOS Asset Management and is expected to free up cash for more profitable opportunities in the agricultural sector, allowing Wingara to expand its focus to include marketing, storage, and processing of agricultural commodities.
More about Wingara Ag Ltd.
Wingara AG Limited operates in the agricultural industry, focusing on the export of agricultural commodities and protein supply, including meat. The company is known for its management of facilities for agricultural exports, which is a skillset applicable to various export establishments across Australia.
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$877.7K
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