AGT Foods gets $500 K

[HITTGrapevine]

So AGT Foods is the most recent recipient of taxpayer money under the Saskatchewan Lean Improvements to Manufacturing Program, (SLIM).
The pulse processing company headed by Murad Al Katib will receive $500,000 to expand infrastructure used for polishing, bagging and conveying product (sounds like a new conveyor system).
Is it just me, or do the optics of this deal look really bad?
Does AGT really need $500,000 of taxpayer money to expand its operations?

http://www.saskatchewan.ca/government/news-and-media/2017/september/29/support-for-value-added-sector

[LWeber]

So AGT Foods is the most recent recipient of taxpayer money under the Saskatchewan Lean Improvements to Manufacturing Program, (SLIM).
The pulse processing company headed by Murad Al Katib will receive $500,000 to expand infrastructure used for polishing, bagging and conveying product (sounds like a new conveyor system).
Is it just me, or do the optics of this deal look really bad?
Does AGT really need $500,000 of taxpayer money to expand its operations?

http://www.saskatchewan.ca/government/news-and-media/2017/september/29/support-for-value-added-sector

AGT Net Income Sales
2008 $ 22,204,743.00 $ 328,672,293.00
2009 $ 29,940,646.00 $ 387,887,499.00
2010 -$ 15,419,405.00 $ 642,139,516.00
2011 -$ 20,966,295.00 $ 759,974,100.00
2012 $ 8,936,291.00 $ 855,325,000.00
2013 -$ 24,467,000.00 $ 1,138,773,000.00
2014 $ 19,542,000.00 $ 1,356,745,000.00
2015 $ 26,920,000.00 $ 1,704,480,000.00
2016 -$ 42,520,000.00 $ 1,973,204,000.00

TTL $ 4,170,980.00 $ 9,147,200,408.00

[ajl]

Several questions: Does AGT need it? Yes. This pig almost loses more money than Tesla. Will it help? No. Investment will be made in executive salaries. Can SK afford it? Absolutely not. The next generation does not need more debt to service.

[farmaholic]

Maybe we can all go the the Rider football games for free in the AGT corporate box/lounge or what ever the **** that area is called!

What about all the other value added processors in Saskatchewan?

[SASKFARMER3]

You can’t be buisiness of the year if in 10 years you only make 4 million profit on a 9 billion sales of product. Something is wrong.

New math again

[4GFarms]

I heard it was going to the infrastructure for the durum/pasta processing plant!!!!

[Quadtrack]

I'm no accountant, but the 9 bil sales number is not "their" product. It is farmer product that they bought for what 8 bil maybe. Cleaned it shipped it etc. So their product is really only the latter. The value add portion. To state the 9 as a sales number is completely misleading. The old CWB used to do the same thing remember? 6 billion in sales a year; largest seller of wheat in the world. No, maybe largest confiscation agent in the world. All the wheat board did was get someone to assemble the grain in a ship hold, send it somewhere and give some of the money back to farmers..it always was the farmers product and sale. Sounds way more important to state it like they did, --and like AGT is doing.

Profit from operations is what needs to be known. Selling cleaned raw product for a big number after buying uncleaned raw product for a big number is throughput.

[Quadtrack]

And should not get any govt money. None.

[sumdumguy]

Maybe we can all go the the Rider football games for free in the AGT corporate box/lounge or what ever the **** that area is called!

What about all the other value added processors in Saskatchewan?

That is ridiculous!

[the big wheel]

This is outstanding!! Go get another job lazy assholes we need to support struggling enterprises as such. While your working 16 hours a day have comfort the highly touted brilliant man is getting all this money. Yippee!!!