The agricultural equipment market is a cyclical market that is fundamentally correlated to the prices of agricultural products. This market has been declining since the years 2012/2013 and reached a new low point in 2020. Exel Industries suffered throughout this period and recorded its first losses last year. But the group has also restructured. Its recovery is today spectacular.
EXEL Industries designs and manufactures precision spraying equipment that it markets to three markets: farming, industry and consumers. Co. organizes its operations into two divisions: Plant Protection (manufactures professional, semi-professional and consumer agricultural spraying equipment for plant protection; plant health products sprayed include herbicides, insecticides, fungicides, liquid fertilizers and other products) and Material Protection (supply of material protection products in two different areas: paint and viscous industrial product application equipment; and elimination of dust and odors).
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