AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment and infrastructure, has announced a $20 million investment for its tractor manufacturing facility in Beauvais, France. The new complex will house the tractor cab production line and will also become home to a new Massey Ferguson International Sales Training Centre.
AGCO "BEAUVAIS 2"- New Cab Assembly and MF Sales Training Centre (Photo: Business Wire)
“This latest initiative at Beauvais underlines AGCO’s commitment to continuing long-term investment in our worldwide manufacturing facilities and product lines,” said Martin Richenhagen, Chairman, President and CEO of AGCO. “This project will provide the necessary space and scope to improve the efficiency of our production and lower our manufacturing costs.”
AGCO, Your Agriculture Company, (NYSE: AGCO), is a global leader focused on the design, manufacture and distribution of agricultural machinery. AGCO supports more productive farming through a full line of tractors, combines, hay tools, sprayers, forage equipment, tillage, implements, grain storage and protein production systems, as well as related replacement parts. AGCO products are sold through four core machinery brands, Challenger®, Fendt®, Massey Ferguson® and Valtra® and are distributed globally through 3,100 independent dealers and distributors in more than 140 countries worldwide. Retail financing is available through AGCO Finance for qualified purchasers. Founded in 1990, AGCO is headquartered in Duluth, GA, USA. In 2011, AGCO had net sales of $8.8 billion.
Safe Harbor Statement
Statements which are not historical facts, including expectations regarding the efficiency and cost of production, are forward-looking and subject to risks that could cause actual results to differ materially from those suggested by the statements. These risks include possible declines in demand for products as a result of weather, demand and other conditions that impact farm income, actions by producers of competitive products, and the general risks attendant to acquisitions. Further information concerning these and other factors is included in AGCO’s filings with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2011. AGCO disclaims any obligation to update any forward-looking statements except as required by law.