AGCO Corporation (NYSE: AG), a worldwide manufacturer and distributor of agricultural equipment, today announced the formation of AGCO Advanced Technology Solutions. The primary mission of this new group will be to develop and incorporate the latest advanced technologies into all AGCO machinery brands to ensure that their customers are among the most productive and efficient in the agricultural machinery sector.
Based in the Duluth, GA headquarters of AGCO Corporation, the Advanced Technology Solutions group will develop products and work with highly respected, leading edge technology companies to integrate the latest in machine control, machine management and precision farming products into it’s full line of farm machinery, including tractors, combines and application equipment. “We formed this new group to increase the performance of our product line and to increase our speed to market,” said Martin Richenhagen, Chairman, CEO and President of AGCO Corporation. “With the world’s population continuing to increase and the amount of arable land decreasing it is increasingly important that AGCO deliver high quality machinery that will help maximize farm productivity.”
AGCO Advanced Technology Solutions is currently involved in the development of a number of new products that promise to deliver the latest in automated machine guidance and machine tracking along with improved man-machine interfaces. These products will make the AGCO family of brands among the most productive and easiest to operate in the agricultural machinery market. “Around the world many of our customers are innovators in the ag industry,” said Randy Hoffman, Senior Vice President, Global Sales and Marketing for AGCO. ”We are committed to providing them with cutting edge technology integrated into our high quality machinery to ensure that they and future generations have the tools and technology at their fingertips to help them maximize their efficiency and productivity.
About AGCO
Founded in 1990, AGCO Corporation (NYSE: AG) (www.agcocorp.com) is a global manufacturer of agricultural equipment and related replacement parts. AGCO offers a full product line including tractors, combines, hay tools, sprayers, forage, tillage equipment and implements, which are distributed through more than 3,200 independent dealers and distributors in more than 140 countries worldwide. AGCO products include the following well-known brands: AGCO®, Challenger®, Fendt®, Gleaner®, Hesston®, Massey Ferguson®, New Idea®, RoGator®, Spra-Coupe®, Sunflower®, Terra-Gator®, Valtra®, and White™ Planters. AGCO provides retail financing through AGCO Finance. The company is headquartered in Duluth, Georgia, and in 2006, had net sales of $5.4 billion.
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Investor
Contact:
Greg Peterson, 770-232-8229
Director, Investor
Relations
greg.peterson@agcocorp.com
