AGCO Corporation (NYSE: AGCO) was founded in 1990 and is headquartered in Duluth, Georgia, USA, with 20,800 full-time employees. It is currently the world’s third largest manufacturer of agricultural farming machinery.
AGCO Corporation (AGCO):
AGCO Corporation is engaged in the manufacture and sale of agricultural equipment and related replacement parts worldwide. AGCO is engaged in the design, production and sales of grain storage, handling equipment and protein production systems; AGCO also provides retail financing through its retail finance joint venture.
AGCO Corporation provides a full range of tractors, combine harvesters, mowing tools, sprayers, feed and farming equipment and related replacement parts, and sells its products through five core brands, including Challenger, Fendt, Massey Ferguso, GSI and Valtra, Shipped to all parts of the world through independent dealers and distributors. AGCO sells and distributes agricultural equipment and replacement parts to farmers around the world through an independent dealer network.
History of AGCO Corporation (AGCO):
- In 1990, Deutz-Allis executive Robert J. Ratliff acquired Deutz-Allis North American from the parent company KHD (German company, which owns the agricultural equipment brand Deutz-Fahr), and established Gleaner-Allis Corporation, which was later renamed Allis-Gleaner Corporation, namely: AGCO;
- In March 1991, AGCO acquired Hesston Corporation established in 1947 (Hesston and Case International have a 50/50 joint venture company, which is now part of CNH Global);
- In 1993, AGCO acquired all shares of White-New Idea;
- In 1993, AGCO purchased the North American distribution rights of the agricultural equipment company Massey Ferguson (now a subsidiary of AGCO);
- In 1994, AGCO acquired Massey Ferguson, a large articulated tractor manufacturer McConnell Tractors;
- At the end of 1994, AGCO acquired Black Machine;
- In 1995, AGCO acquired AgEquipment Group, a manufacturer of agricultural machinery and loaders under the Glenco, Tye and Farmhand brands;
- In 1996, AGCO acquired the Brazilian company Iochpe-Maxion;
- In 1996, AGCO acquired Argentina’s largest tractor manufacturer Deutz Argentina;
- In 1996, AGCO acquired Western Combine Corporation and Portage Manufacturing in Canada;
- In 1997, AGCO acquired Fendt, a leading German tractor manufacturer;
- In 1997, AGCO acquired Dronningborg Industries, Denmark;
- In 1998, AGCO and Deutz AG established a joint venture company to produce engines in Argentina;
- In 1998, AGCO acquired Spra-Coupe and Willmar companies;
- In 2000, AGCO bought out joint venture partner CNH Global NV in the joint venture company Hay and Forage Industries;
- In 2001, AGCO acquired Ag-Chem Equipment and expanded its business to the field of application equipment;
- In 2002, AGCO from Caterpillar purchased a Challenger tractor trademarks and production assets (Caterpillar Corporation) hands;
- In 2004, AGCO acquired Valtra tractor company from the Finnish company Kone Group;
- In 2007, AGCO purchased 50% of Laverda SpA from ARGO SpA, including equipment brands Gallagnani and Fella-Werke;
- At the end of 2009, AGCO announced that it would phase out orange AGCO Tractors in 2011. That year, the company’s sales reached 6.6 billion US dollars;
- At the end of 2010, AGCO announced plans to acquire the remaining 50% of Laverda, including Fella-Werke, and the transaction was completed in March 2011;
- In 2011, AGCO announced plans to invest 40 million U.S. dollars to expand its Hesston factory and build a new 19,000 m 2 plant. Construction started in June 2011 and completed in 2013;
- In October 2011, AGCO acquired Illinois GSI Group;
- In 2012, AGCO acquired a 60% stake in Santal Equipamentos, a sugarcane planting and harvesting equipment company;
- In 2012, AGCO acquired 80% of the shares of Shandong Dafeng Machinery Co, a Chinese combine harvester production company;
- In 2012, AGCO established a joint venture company Algerian Tractors Company with 49% equity;
- In 2013, GSI Group under AGCO acquired Johnson System.