AGCO Corporation (NYSE: AGCO), a world-leading manufacturer and distributor of agricultural equipment, announced today that Martin Richenhagen, Chairman, President and CEO of AGCO, has been reappointed to the President’s Advisory Council on Doing Business in Africa (PAC-DBIA). U.S. Department of Commerce Secretary Penny Pritzker announced earlier today the 23 business executives appointed to the Council. All appointed members have been invited to participate in the U.S.-Africa Business Forum held in New York on September 21.
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Martin Richenhagen, Chairman, President and CEO AGCO (Photo: Business Wire)
Secretary Penny Pritzker: “I am pleased to reappoint Mr. Richenhagen to the President’s Advisory Council on Doing Business in Africa. His experience and counsel help us to strengthen commercial engagement between the United States and Africa.” This is the second time that Mr. Richenhagen has been selected to serve on the Council for a two-year term. “I’m very proud to support the President’s Advisory Council on Doing Business in Africa,” said Mr. Richenhagen. “AGCO has been doing business in Africa for many decades. We focus on mechanization, grain storage, protein production and financing solutions. In addition, we are also providing local farmers with education and training in core agricultural practices. Africa will play a significant role in the future of global food security and therefore it is vital to move African agriculture forward. We have taken on the challenge to transform African agriculture into a highly productive, efficient, competitive and sustainable system.”
AGCO offers high-tech agricultural solutions for professional farmers feeding the world. Its comprehensive product line, global reach and technological solutions help farmers to be more productive and efficient. In Africa, AGCO has invested in manufacturing capabilities in Algeria and in improving distribution and parts support in South Africa. In Zambia, AGCO has launched its first Future Farm to train local farmers and dealers in modern farm practices. AGCO also hosts the annual AGCO Africa Summit (http://www.agco-africa-summit.com) to promote international investments in African agriculture.
Mr. Richenhagen joined AGCO 12 years ago as President and CEO, and in August 2006 he was appointed to Chairman of the Board. Mr. Richenhagen’s career has spanned a wide range of executive and managing directorships positions. In addition to currently serving as the Chairman of the German American Chambers of Commerce of the U.S. (GACCs), Mr. Richenhagen is also a member of the U.S. Chamber of Commerce Board of Directors. He has served as Chairman of the Board of the Association of Equipment Manufacturers (AEM) and is a Life Honorary Director of AEM.
AGCO Corporation (NYSE: AGCO) is a global leader in the design, manufacture and distribution of agricultural solutions and supports more productive farming through its full line of equipment and related services. AGCO products are sold through five core brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®, supported by Fuse® precision technologies and farm optimization services, and are distributed globally through a combination of approximately 3,000 independent dealers and distributors in more than 140 countries. Founded in 1990, AGCO is headquartered in Duluth, GA, USA. In 2015, AGCO had net sales of $7.5 billion. For more information, visit http://www.AGCOcorp.com. For company news, information and events, please follow us on Twitter: @AGCOCorp. For financial news on Twitter, please follow the hashtag #AGCOIR.
Rebecca Fabian, 646-663-1078