Who owns agco

Add to my list. AGCO Corp. In partnership with Allbrands. Indian tractor maker presses AGCO to refresh board, consider alternatives. More Must read. George Benson. Bob de Lange. George E. All rights reserved. Show password. Add to my list Report. Business Summary.

AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts. The Company sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage equipment, implements, and grain storage and protein production systems.

As of December 31, , the Company distributed its products through over 3, independent dealers and distributors in more than countries. AGCO NYSE:AGCO is a global leader in the design, manufacture and distribution of agricultural solutions and delivers high-tech solutions for farmers feeding the world through its full line of equipment and related services. Solinftec is a global leader in digital agriculture providing actionable insights to farmers.

We deliver operational efficiency and agronomic efficacy by developing and using the best available technology in IoT Internet of Things , telecommunications satellite, mobile, mesh, low power wide area , data processing cloud and edge and data sciences linear algorithms and artificial intelligence, or A. The Solinftec platform is scalable and it tackles the core bottlenecks of agricultural production in 10 different countries and in multiple crop types.

A webcast conference call regarding the acquisition is scheduled for pm, Eastern Time today available on the Company's website at www.

A replay of the webcast will also be available on the site subsequent to the completion of the call. This press release contains forward looking statements, including our expectations that the transaction will provide benefits to AGCO's remaining operations, our plans for Valtra's facilities, and our expectation that the transaction will receive the necessary regulatory approvals and be consummated in a timely manner.

Actual results may differ materially from those suggested by our forward looking statements for various reasons, including the complexities inherent in integrating a large acquisition into our current operations, the need to finalize our financing for the transaction, and the possibility that regulatory authorities will not provide the necessary approvals or will condition such approvals on either unacceptable or costly terms.

For additional risk factors regarding our business, please see the Form K for the year ended December 31, , that we have filed with the Securities and Exchange Commission. AGCO Corporation, headquartered in Duluth, Georgia, is a global designer, manufacturer and distributor of agricultural equipment and related replacement parts.

AGCO products are distributed in over countries. To that end, AGCO executives planned to concentrate on building a comprehensive, efficient network of dealers that could supply an expansive, reputable product line.

To help stabilize the ballooning organization, Ratliff hired John Shumejda to serve as chief operating officer. Shumejda was an engineer and an expert at farm machinery technology. While Shumejda worked to streamline AGCO's manufacturing and distribution operations, Ratliff and Ritchie continued to make acquisitions. In the meantime, AGCO's acquisition spree was aided by an initial public offering of one-half of the company's stock.

By mid, AGCO had established itself as the top North American distributor of tractors and a leading distributor of a wide range of farm machinery.

Its giant distribution network had swelled to include 2, dealers, compared to John Deere's 1, That figure shot up past 50 percent after the sale, giving AGCO immediate access to different countries where Massey Ferguson was active. AGCO also continued to cut costs, particularly in its foreign operations, and to enhance its distribution network. International growth was at the forefront during and Iochpe-Mexion held about a 45 percent share of Brazil's farm tractor market, along with significant portions of the combine harvester and loader-backhoe markets as well.

Fendt was known as a producer of some of the world's most technologically advanced tractors and heavy farm equipment. Richard, however, was not around when these stellar results were announced. He had resigned in August , apparently after clashing with Ratliff, who seemed reluctant to give up too much day-to-day control over the company whose formation he had spearheaded.

Ratliff reassumed the CEO spot following Richard's departure. Agricultural equipment makers, including AGCO, began laying off workers, cutting production, and in some cases closing plants.

AGCO also announced that it would sell its manufacturing plant in Argentina, consolidating the production there at its plant in Brazil.

As the downturn in the agricultural equipment market continued, AGCO cut its workforce by a further 5 percent in and closed its factory in Independence, Missouri.

The company also reentered the acquisition arena. The addition of Ag-Chem gave AGCO the leading position in self-propelled sprayers that spread fertilizer and chemicals on fields. It featured the Challenger line of tractors, launched in the late s, which had rubber-belted bulldozer-like tracks. Just a week before the Caterpillar deal was completed, tragedy hit the company. A corporate jet carrying Shumejda and Edward Swingle, AGCO's senior vice-president of sales and marketing worldwide, crashed on takeoff in Birmingham, England, killing all aboard.

An investigation later revealed that the failure of the flight crew to de-ice the plane was the likely cause of the crash. Within hours of the crash, Ratliff reassumed the position of president and CEO. Based in Beloit, Kansas, Sunflower was a leading producer of tillage, seeding, and specialty harvesting equipment. During the Challenger tractor factory in DeKalb, Illinois, was also shut down, and production of the Challenger line was relocated to a plant in Jackson, Minnesota. Overall, was AGCO's best year since