AGCO Type Public (NYSE: AGCO) Industry Manufacturer Founded 1990 Headquarters Duluth, Georgia, USA Area served Worldwide Key people Martin H. Richenhagen
(President & CEO)
Products Agricultural equipment
List of brands
Services Parts, Service, Finance Revenue US$ 6.6 billion (2009) Operating income US$ 219.3 million (2009) Net income US$ 135.7 million (2009) Total assets US$ 5.062 billion (2009) Total equity US$ 2.4 billion (2009) Employees 14,500 (2009) Website www.AGCOcorp.com
AGCO (NYSE: AGCO) is an agricultural equipment manufacturer based in Duluth, Georgia, USA. As a leading global manufacturer of agricultural equipment, AGCO offers a full line of tractors, combines, hay tools, sprayers, forage and tillage equipment, which are distributed through more than 2,700 independent dealers and distributors in more than 140 countries worldwide.
With roots firmly established in the farm equipment industry, AGCO has a brand heritage reaching back to the mid-19th century. AGCO was established in 1990 when executives at Deutz-Allis bought out Deutz-Allis North American operations from the parent corporation KHD, (Klöckner-Humboldt-Deutz), a German company that owned the Deutz-Fahr brand of agriculture equipment. KHD had purchased portions of the Allis-Chalmers agricultural equipment business five years earlier. Since that time, AGCO has become a worldwide farm machinery company through market growth, strategic acquisitions and cutting edge agricultural solutions.
The company was first called Gleaner-Allis Corporation, then rearranged to be Allis-Gleaner Corporation, or AGCO. The design for these tractors and combines were originally designed by Allis-Chalmers Corp. prior to the sellout to Deutz Allis. The Deutz-Allis line of tractors were renamed AGCO-Allis, and Gleaner became a brand of its own for combines. The Deutz-Allis brand continued in South America until 2001, when they were renamed AGCO-Allis. They continue in the lime-green livery. In 2001, AGCO Allis was renamed AGCO in North America.
In 1991, AGCO purchased the Hesston Corporation, gaining hay and forage equipment. Hesston had a 50 percent joint venture with Case International, now a part of CNH Global. AGCO purchased the White Tractor line from the Allied Corporation's White-New Idea company. In 1993, AGCO purchased the remainder of White-New Idea, gaining New Idea hay equipment and manure spreaders, and White planters. White New Idea had a large manufacturing plant which operated in Coldwater, Ohio, USA.
Also in 1993, AGCO purchased the North American distribution rights to Massey Ferguson, a worldwide agricultural equipment company. In 1994, they purchased McConnell Tractors, manufacturer of the large articulated Massey Ferguson tractors. AGCO developed the Agcostar line of articulated tractors. Later in 1994, the Black Machine line of planters was purchased.
1995 saw the purchase of the AgEquipment Group, which manufactured tillage equipment and loaders under the Glenco, Tye and Farmhand brands. In 1996, acquisitions went international with the purchase of Iochpe-Maxion in Brazil. This was the Brazilian company that had rights to the Massey Ferguson brand and manufacturing in the region, as well as the Maxion brand of industrial equipment. This was also the year that AGCO purchased Deutz Argentina, the number one leader of tractors in Argentina. Also in 1996, AGCO purchased Western Combine Corporation and Portage Manufacturing in Canada. Western Combine had previously purchased the assets of the Massey Combine Corporation's combine operation, which had been spun off by Massey-Ferguson.
1997 was the year of the major purchase of Fendt in Germany, the leading German tractor company. Fendt is well known for its advanced technology. AGCO also acquired Dronningborg Industries in Denmark, the manufacturer of European Massey-Ferguson combines, and former manufacturer of Dronningborg combines.
In 1998, AGCO made a joint venture with Deutz AG to produce engines in Argentina, and purchased the Spra-Coupe and Willmar companies. Spra-Coupe and Willmar are leading sprayer companies in North America.
For the year 2000, AGCO bought out its partner Case International in the Hay and Forage Industries joint venture. In 2001, AGCO purchased Ag-Chem Equipment, expanding its application equipment business. That year, the Agco-Allis and White tractor lines were merged in North America to become simply AGCO, continuing in the orange color.
2002 was the year that AGCO purchased rights to the Challenger name and the tracked tractors from the Caterpillar Corporation, giving AGCO a well-known brand name and high-power tracked tractors. AGCO further developed the Challenger line into: wheeled tractors, using tractors manufactured by Iseki, Agritalia, the Massey Ferguson factory and the Brazilian Valtra factory; combines, rebranding some Massey Ferguson/Gleaner -built combines; and hay equipment, using Hesston-built hay equipment. AGCO also purchased the Sunflower Manufacturing Company, which manufactures tillage, seeding and specialty harvesting equipment.
2004 brought about the purchase of the Valtra tractor company from the Kone Group, in Finland. Valtra has some licensing agreements with the Eicher company in India for tractor production, and also with the HEMA group in Turkey. The purchase of Valtra also includes SISU POWER engines.
2006 saw a re-focusing of the various brands, and the reduction of individual brands. AGCO announced plans to combine some, and make some only part of a larger brand, or co-branding. Examples include the Massey Ferguson 9635 Hesston self-propelled swather, and the AGCO 9365 Hesston self-propelled swather. Challenger has seen further expansion with the further consolidation of the AgChem brand into Challenger, and the introduction of Agritalia built tractors and an articulated Challenger tractor.
In 2008/2009 AGCO, the Challenger, Valtra, and Massey Ferguson large row crop tractors were launched in Europe and North America respectively with AGCO's e3 Selective Catalytic Reduction (SCR) emission reduction technology.
Late in 2009, AGCO announced that it would phase out the orange AGCO Tractors by 2011. In 2009, AGCO had sales of US$6.6 billion.
In late 2010, AGCO announced the plan to acquire the remaining 50% of Laverda, which included Fella-Werke as well. The acquisition was finalized in March 2011.
AGCO plans to transfer its high-horsepower wheeled-tractor assembly of tractors sold in North America from Beauvais, France to Jackson, Minnesota, where it will expand the plant by 75,000 square feet (7,000 m2).
In 2011, AGCO said that it will invest $40 million in its Hesston plant by building a new 200,000-square-foot (19,000 m2) painting and finishing building. Construction will start June 2011 and be completed by 2013.
AGCO products are sold through four core brands: Challenger, Fendt, Massey Ferguson, and Valtra.
- Challenger, tractors, combine harvesters, hay equipment available globally.
- Fendt, high tech tractors, combine harvesters in Europe.
- Massey Ferguson, full-line of tractors, combine harvesters, hay equipment available globally.
- Valtra, tractors.
- AGCO Allis, tractors distributed throughout South America.
- AGCO Tractors, tractors distributed throughout North America.
- AGCO Parts, replacement parts.
- AGCO Advanced Technology Solutions.
- AGCO SISU POWER Engines, high performance/low emission engines 50 - 400 HP.
- AGCO SCR e3 Technology, engine technology.
- Fella-Werke, forage harvesting implements.
- Gleaner, Official Website, since 2006, marketed as AGCO Gleaner (combine harvesters).
- Hesston, since 2006, marketed as AGCO Hesston and Massey Ferguson Hesston (hay and forage equipment available in North America).
- Laverda, combine harvestors.
- RoGator, high clearance self-propelled application equipment, distributed as Challenger in markets outside North America and Australia.
- SpraCoupe, sprayers.
- Sunflower, tillage equipment.
- TerraGator, self-propelled application equipment, distributed as Challenger in markets outside North America and Australia.
- White Planters, Official Website, planters
- Willmar, application equipment.
- AGCO North America
- Hesston, Kansas, USA. Former Hesston Corporation site.
- Beloit, Kansas, USA
- Jackson, Minnesota, USA
- Querétaro, Bajío, Mexico
- AGCO South America
- AGCO Europe
- Linnavuori, Finland
- Suolahti, Finland
- Beauvais, France
- Marktoberdorf, Bavaria, Germany. Former Fendt site.
- Breganze, Italy
- ^ Bio - Martin H Richenhagen
- ^ Agco Timeline History
- ^ AGCO - SISU POWER
- ^ AGCO - Italian deal
- ^ AGCO - e3
- ^ AGCO Tractor color phase out
- ^ AGCO - Laverda
- ^ Agco plans investment in U.S. plants; The Wichita Eagle newspaper; January 28, 2011.
- ^ Agco to expand plant in Hesston; The Wichita Eagle; June 10, 2011.
- AGCO (official website)
Wikimedia Foundation. 2010.
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