Los Angeles: At the Jiangsu (China) - US Investment & Trade Cooperation Conference in Los Angeles on July 25, 2017, AGCO Corporation announced that it would further invest in China in order to further improve the production capacity of AGCO’s Changzhou Plant. The company would continue to expand the scale of its Chinese manufacturing base and actively promote the progress of Chinese agricultural machinery development. During the conference, Global Vice President and China Managing Director of AGCO Mr. Yang Qing participated in the signing ceremony for the investment increment on behalf of AGCO Corporation. He spoke highly of the favorable investment environment and the government’s pro-business service in Jiangsu Province. Both parties reached an agreement on the intended investment increment and pledged to make the utmost effort to accomplish their joint-development goal.

As one of the largest agricultural machinery markets in the world, AGCO Corporation pays continuous, focused attention to the Chinese market. Since its entry into China in 2001, AGCO has launched a series of new initiatives for better business development in China and greater benefits for users. As the project with the largest investment from AGCO Corporation globally to date, the new AGCO Changzhou production base has been expressing consistent confidence and commitment in the Chinese market since it was successfully put into operation in 2015. By now, AGCO Corporation has invested a total of over 250 million USD in the production base. As the global supply base for Massey Ferguson Global Series tractors, the Changzhou Plant is equipped with the cutting-edge technology for whole tractor manufacturing, covering the whole horsepower range—from small to large, and is committed to providing professional-quality products with internationally leading technology for farmers. The plant integrates both cutting-edge manufacturing capacity and R&D level. Based on a total area of nearly 200,000 m2, it will gradually realize the annual production capacity of 20,000 tractors, 30,000 engines and 40,000 sets of rear axles and gearboxes, to provide professional agricultural machinery with outstanding quality for both domestic and foreign markets.

Regarding AGCO’s development strategy in China, Mr. Yang Qing said: “The strategic focus of AGCO China is to accomplish sales and market share growth within China with well-rounded solutions through the integration and use of global technology and resources; to manufacture high-quality, competitive products; and to sell to the global market. It is also to acquire cost-effective raw materials for global operations while building a team with a proven, vibrant, open and lean culture.” In the future, AGCO will continue to steadily improve its business scale in helping the mission of Chinese enterprises transform, to better serve the majority of Chinese farmers and actively promote the development of China's agricultural machinery.