AGCO Africa Summit held in Berlin
Model farm projects planned for Africa
DULUTH, Ga.--(BUSINESS WIRE)--Jan. 23, 2012--
AGCO, Your Agriculture Company (NYSE: AGCO), a worldwide manufacturer
and distributor of agricultural equipment, today held its first ever
AGCO Africa Summit in Berlin. The Summit is a joint initiative of AGCO,
Bayer CropScience and DEG – Deutsche Investitions- und
Entwicklungsgesellschaft mbH. “With its population poised to double in
the next 20 years, it is a global responsibility to develop a new vision
for agriculture in Africa,” said Martin Richenhagen, Chairman, President
and CEO at the opening press conference. “Our objective is to promote
international dialogue to encourage global businesses to invest in the
future of Africa.”
The goal of the AGCO Africa Summit was to raise awareness for the needs
of the African continent and to discuss the challenges of agriculture
with regard to the world food supply problem, declining arable land base
and population growth. Guest speakers included Thabo Mbeki (former
President of South Africa), Prof. Dr. Horst Köhler (former Federal
President of Germany), Dirk Niebel (Federal Minister of Economic
Cooperation and Development of Germany), and Ilse Aigner (Federal
Minister of Food, Agriculture and Consumer Protection of Germany).
Panelists included Jose Pacheco (Minister of Agriculture of Mozambique),
Roberto Rodrigues (Former Minister of Agriculture of Brazil), Bärbel
Dieckmann (President of Welthungerhilfe) and Omari Issa (CEO of The
Investment Climate Facility for Africa) – to name a few.
Participants at the AGCO Africa Summit discussed the many ways that
agricultural mechanization could secure better futures and how improved
cultivation methods could increase yields significantly. Higher
productivity and efficiency would in turn help African countries become
less dependent on imported crops, creating better food security. “Large
areas across Africa have suitable soil and climate for successful
agriculture, but many areas are not yet cultivated or are not productive
enough,” explained Richenhagen. “With 11 percent of the world’s arable
land (86 percent of which is uncultivated) Africa would benefit from
modern, mechanized farming techniques.”
With over 50 years of experience in Africa through its Massey Ferguson
tractor brand, AGCO already leverages alliances with governments,
foreign investors and donors to improve agricultural practices in
Africa. AGCO plans to fund the development of Model Farms and Training
Centers in Zambia, Ethiopia, Morocco, Libya, Algeria and South Africa
that will allow local farmers and dealers to be trained on new farming
technology. Hubertus Mühlhäuser, Senior Vice President, General Manager,
Europe, Africa, Middle East commented, “The solution for African
agriculture is to develop strategic partnerships to deliver crops that
feed an increasing population in an economically, environmentally and
socially responsible way. With decades of dependency on food aid and the
world’s fastest population growth, Africa’s long-term prospects will
require increasing degrees of self-sustainability.”
With a global population of 7.0 billion people growing to 8.9 billion
people by 2050 (estimated by the World Bank), food production has to
increase, which means global farm productivity will need to improve to
meet the growing needs. Africa holds the key to ensuring a sustainable
food supply, but only if a new vision for agriculture is developed,
harnessing both the expertise of the private industry sector and the
knowledge of local communities.
ABOUT AGCO
AGCO, Your Agriculture Company, (NYSE: AGCO), a Fortune 500 company, was
founded in 1990 and offers a full product line of tractors, combines,
hay tools, sprayers, forage equipment, tillage, implements, and related
replacement parts. AGCO agricultural products are sold under the core
brands of Challenger®, Fendt®, Massey Ferguson® and Valtra® and are
distributed globally through 2,600 independent dealers and distributors
in more than 140 countries worldwide. Retail financing is available
through AGCO Finance for qualified purchasers. AGCO is headquartered in
Duluth, GA, USA. In 2010, AGCO had net sales of $6.9 billion. http://www.AGCOcorp.com
Safe Harbor Statement
Statements which are not historical facts, including expectations
regarding the development and sales of products in this region, 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, 2010. AGCO
disclaims any obligation to update any forward-looking statements except
as required by law.
Source: AGCO
For AGCO
Press contact:
Rebecca Fabian, +1-646-415-8518
rf@stockheim-media.com
