Jul 17 2010
AGR Tools, Inc. (OTCBB: AGRT) is pleased to announce to its shareholders and the general public the results of a research report on the company by Curtis Michael Management Corporation.
Dated June 30, 2010, the report provides a comprehensive analysis of the business of AGR and its wholly owned subsidiary, AGR Stone & Tools USA, Inc., as well as an overview of the diamond tool industry and AGR's competitive position within it.
The report highlights AGR's unique stocking dealer business model and its aggressive expansion strategy for the next 18 months, noting that the outlook for the diamond tool industry appears positive since construction spending (in particular, on remodeling projects) and housing starts are again on the rise after bottoming out in late 2008 and 2009. It also supports AGR's expectation that demand for its products will increase over the next 12 months despite a slight decrease in the company's third quarter sales on a year-over-year basis, most of which can be attributed to the effect of the recent global recession on demand in the construction, building and demolition industries.
In addition, the report describes the diamond tool market as both highly competitive and highly fragmented, with competition based on the issues of pricing, quality, service and customer relationships, before outlining AGR's many competitive advantages. These include the company's extensive product lines that fully cover the construction, building and demolition industries; its replacement warranty feature, product testing focus and stocking dealer program; the production experience of its facilities; its management's qualifications; and finally, the company's brand potential. The report concludes that AGR has positioned itself for future growth and success.
"We are pleased with the conclusions of the Curtis Michael Management Corporation report," commented Rock Rutherford, the President and CEO of both AGR and AGR Stone & Tools USA, Inc. "We feel that AGR USA is well-positioned to capture a significant portion of the extensive North American diamond tool market, and the results of the report only reaffirm our commitment to this goal. We look forward to seeing the results of our plans and hard work reflected in the value of AGR's shares."
Source: http://www.agrtools.com/