Alico, Inc. Announces it Has Joined Chem Nut, Inc. as a New Owner Member
FORT MYERS, Fla., Sept. 16, 2015 (GLOBE NEWSWIRE) -- Alico, Inc. (“Alico”) (NASDAQ:ALCO), a holding company with assets and related operations in agriculture and natural resources, announced today that its newly formed subsidiary, “Alico Chemical Sales” has been approved as a new owner-member and stock holder of Chem Nut, Inc. (“CNI”). Alico believes that its new membership in CNI will allow it to fulfill its chemical requirements on a more independent, sustainable and efficient basis as the company grows.
About Chem Nut
CNI is a stock held corporation that has been supporting and supplying independently owned agricultural retailers for 41 years. The primary divisions of the company are agricultural crop protection products, adjuvants and surfactants, seed and seed treatments, and CNI Agriminerals. The company is based in Leesburg, Georgia and has distributor operations in 12 other locations across the United States from the West Coast to the East Coast supplying products for virtually all agricultural markets. There are approximately 295 owner members with approximately 355 retail locations operating in 28 states and Puerto Rico.
Alico is a holding company with assets and related operations in agriculture and natural resources. In addition to its citrus operations, Alico is currently involved in cattle ranching, water management, mining and other natural resources. Our mission is to create value for shareholders by managing existing assets to their optimal current income and total returns, opportunistically acquiring new assets and producing high quality agricultural products while exercising responsible environmental stewardship. Learn more about Alico at www.alicoinc.com.
We provide forward-looking information in this release pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Any statements in this release that are not historical facts are forward-looking statements. Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions. These statements are based on our current expectations, estimates and projections about our business based, in part, on assumptions made by our management. These assumptions are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including those risks factors described in our Annual Report on Form 10-K for the year ended September 30, 2014 and our Quarterly Reports on Form 10-Q filed with the Securities and Exchange Commission. Alico undertakes no obligation to subsequently update or revise the forward-looking statements made in this press release, except as required by law.
Investor Contact: John E. Kiernan Senior Vice President and Chief Financial Officer (239) 226-2000 JKiernan@alicoinc.com
Released September 16, 2015