Morrison Industries is better known for the silos the company manufactures under the HE Silos name has now extended its reach into grain drying
Lloyds Corporate Brokers has pocketed a hefty commission for the sale of Agridry Dryers Pty Ltd (Agridry), the drying and aeration equipment manufacturer, to local manufacturer Morrison Industries.
Agridry is a well-known brand that was established in 1976 to manufacture grain dryers and aeration equipment with a focus on the grain industry with Silo Aeration Control units and Control Equipment for growers and processors.
Agridry found plenty of support when it developed its very own local solution for grain drying the Field Bin 2000, later to become known as the Predator.
Model lines from Agridry also attracted growers of almonds, pulses, nuts, wood chip and other commodity products. The extensive brand portfolio at the time of the sale included Predator, Goliath, Tundra, Kinetic and Tanami.
Agridry has the advantage of being the only manufacturer of dryers in Australia, with a comprehensive range of dryers and components suited to a broad range of requirements. With the further advantage of representing several overseas manufacturers, and as a result, it appeared buyers consistently chose Agridry.
The buyer Morrison Industries
The buyer, Morrison Industries is based in Forbes NSW and is presently a manufacturer of silos under the HE Silos brand. The two activities of silos and dryers are expected to complement each other and give the company a broader customer offer.
Morrison Industries managing director and owner, Steven Morrison, said, “Morrison Industries has wanted to expand their activities into the grain drying market for some time and the acquisition of Agridry fulfils this objective.
Steven Morrison added, “The Agridry Toowoomba QLD manufacturing site would remain as the key location for the dryer operation and the business will continue to be run by the present management and supported by existing staff.”
Given improved weather conditions in most grain-growing regions across Australia, Agridry products are continuing to receive significant buyer interest for the season ahead.
The seller Agridry
The outgoing owner of Agridry, Adam Montgomery added, “While there was some reluctance in selling the business, I am delighted that a family business such as Morrison Industries would guide Agridry through the next phase of its business activity.”
The Agridry product portfolio
• Grain Dryers
• Grain Aeration Fans
• Mobile Bunker Heaters
• Grain Aeration Controllers
• Materials Handling Equipment
• Grain Monitoring Technology
