Lindsay Acquires Setorial Irrigação

(RTTNews) - Lindsay Corporation (LNN), a global manufacturer of irrigation and infrastructure technology, has agreed to acquire Setorial Irrigação, a Brazilian manufacturer of hose reel irrigation systems. The acquisition is expected to close in the coming months, subject to customary conditions.

The acquisition will strengthen Lindsay's position in Brazil's growing irrigation market, expand its mechanized irrigation product range and support long-term growth.

Based in Limeira, São Paulo, Setorial has around 30 years of industry experience and manufactures hose reel irrigation systems, sprinklers, motor pumps and water-conveyance equipment. Its customers include sugar and ethanol mills, small growers, fruit and vegetable producers, cooperatives and family farms.

On the NYSE, in after-hours trading, the shares were trading at $111.99 after closing Thursday's trading 5.07 percent up.