Sale Reinforces AGCO’s Commitment to Region
DULUTH, Ga.--(BUSINESS WIRE)--Sep. 28, 2009--
AGCO Corporation (NYSE:AGCO), Your Agriculture Company, a worldwide
distributor and manufacturer of agricultural equipment, today announced
that it has been awarded a contract in a competitive bid for tractors by
the Heilongjiang provincial government in China. This program is aimed
at expanding agricultural technology and productivity in the local
Under the terms of the agreement, AGCO will deliver over 300 units of
Valtra tractors to the province by the year end. These units will help
meet the needs of the Heilongjiang province for advanced agricultural
technologies. AGCO’s Valtra T191h tractors are high calibre machines
that have received wide recognition in the China market thus far. The
new units to be delivered to the province will further contribute to the
sustainable growth of the local agricultural sector.
With the delivery of the machines, AGCO will conduct large scale
technical training for over one thousand local end users. The planned
training will allow the local end users to better understand modern
agricultural equipment as well as operational and maintenance knowledge.
"AGCO is committed to growing our representation within China and the
Heilongjiang province is one of our key focal areas,” said Hubertus
Muehlhaeuser, Senior Vice President, Strategy & Integration and General
Manager, Eastern Europe & Asia.
Eric Raby, Vice President, Sales & Marketing, Eastern Europe and Asia,
explained, “AGCO has been successful in this province with the Valtra
brand of tractors and this addition to the current fleet of machines
reinforces the progress AGCO is making in obtaining acceptance from
farmers of the region,”.
AGCO has been a market leader in China for imported tractors. Over the
past decade it has assembled a strong local post-sales service team and
spare parts stocks serving the needs of local end users in various
AGCO, Your Agriculture Company, (NYSE: AGCO) was founded in 1990 and
offers a full product line of tractors, combines, hay tools, sprayers,
forage, tillage equipment, implements, and related replacement parts.
AGCO agricultural products are sold under the core brands of
Challenger速, Fendt速, Massey Ferguson速 and Valtra速, and are distributed
globally through more than 2,800 independent dealers and distributors,
in more than 140 countries worldwide. AGCO provides retail financing
through AGCO Finance. AGCO is headquartered in Duluth, Georgia, USA. In
2008, AGCO had net sales of $8.4 billion. Please visit our website at www.AGCOcorp.com.
Certain statements in this release relate to future events and
expectations and as such constitute forward-looking statements involving
known and unknown factors that may cause actual results of AGCO
Corporation to be different from those expressed or implied in the
forward-looking statements. In this context, words such as "will,"
"likely," "offers" or other similar words and phrases often identify
forward-looking statements made on behalf of AGCO. These forward-looking
statements involve a number of risks and uncertainties. It is important
to note that actual results of the company may differ materially from
those described or implied in such forward-looking statements. 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, 2008. AGCO disclaims any obligation
to update any forward-looking statements.
Source: AGCO Corporation
Nancy Klentak, 770-232-8209
Global Corporate Communications
Director, Investor Relations