Raven and Kinze Announce Collaboration on Multi-Hybrid Planter System
SIOUX FALLS, S.D., Jan. 28, 2014 (GLOBE NEWSWIRE) -- Raven Industries, Inc.
(Nasdaq:RAVN) announced a collaboration with Kinze Manufacturing, Inc. to
bring a new multi-hybrid planter control system to Kinze's world-leading
product offering. In the summer of 2013, Raven introduced the first
commercially available multi-hybrid planter solution that allows growers to
switch between two hybrids on the fly.
As part of the collaboration, Raven will be the technology provider for
Kinze's new 4900 series multi-hybrid concept planters being tested with select
North American producers in the spring of 2014. This planter will be the first
to offer producers this capability as a factory-installed option. In addition,
Beck's Hybrids, the world's largest family-owned independent seed company,
will be providing their agronomic expertise to strengthen their position as a
leader in multi-hybrid planting as well as seed selection. Beck's introduced
their first multi-hybrid planter in 2012 and will be starting their third year
of testing in 2014.
"Multi-hybrid technology allows corn planting to include precision hybrid
placement," said Jason Webster, Central Illinois Practical Farm Research
Director for Beck's Hybrids."Placing the correct corn hybrid is one of the
most important decisions a grower can make each and every year.Our
multi-hybrid testing at Beck's has shown significant yield gains and
profitability by changing corn hybrid placement on the fly based upon varying
degrees of yield potential throughout a field."
"We're very excited to see a quick adoption of this ground-breaking technology
with one of the world's leading manufacturers, Kinze.Growers will quickly
realize the benefits of a multi-hybrid system and the resulting ROI through
the use of that technology," said Matt Burkhart, Vice President and General
Manager for Raven's Applied Technology Division.
To learn more about Raven Industries and their multi-hybrid planter system,
please visit ravenprecision.com.
About Raven Industries, Inc: Since 1956, Raven Industries has designed and
manufactured high quality, high-value technical products. Raven is publicly
traded on NASDAQ (RAVN) and has earned an international reputation for
innovation, product quality, high performance, and unmatched service. Raven's
purpose is to solve great challenges in areas of safety, feeding the world,
energy independence, and resource preservation. To realize this purpose, we
utilize our strengths in engineering, manufacturing, and technological
innovation to serve the precision agriculture, high performance specialty
films, aerospace, and electronic manufacturing services markets.Visit
www.RavenInd.com for more information.
Forward-Looking Statements: This news release contains "forward-looking
statements" within the meaning of Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, including statements regarding the expectations, beliefs, intentions
or strategies regarding the future.Without limiting the foregoing, the words
"anticipates," "believes," "expects," "intends," "may," "plans," and similar
expressions are intended to identify forward-looking statements.The company
intends that all forward-looking statements be subject to the safe harbor
provisions of the Private Securities Litigation Reform Act.Although
management believes that the expectations reflected in forward-looking
statements are based on reasonable assumptions, there is no assurance these
assumptions are correct or that these expectations will be
achieved.Assumptions involve important risks and uncertainties that could
significantly affect results in the future.These risks and uncertainties
include, but are not limited to, those relating to the inability to achieve
objectives established for research and development activities, or changes in
competition, raw material availability, technology or relationships with the
company's largest customers—any of which could adversely affect any of the
company's product lines—as well as other risks described in Raven's 10-K under
Item 1A.This list is not exhaustive, and the company does not have an
obligation to revise any forward-looking statements to reflect events or
circumstances after the date these statements are made.
CONTACT: Ryan Molitor
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