Articles tagged under: AGCO
AGCO and Trimble Close Joint Venture
Published April 2, 2024
AGCO Corporation and Trimble have announced the closing of their joint venture agreement. The joint venture is called PTx Trimble. AGCO has an 85 percent ownership stake in the new company and Trimble has 15 percent. The new company is…AGCO FarmerCore Model Require a Change in Mindset
Published January 30, 2024
AGCO has launched a new distribution model that it describes as “transformative.” FarmerCore will use tools that put dealers in closer proximity to farmers, both on-site and online. The one-size-fits-all outlet approach will be de-emphasized and moves to a hub-and-spoke…Record Quarterly Income for AGCO
Published October 31, 2023
AGCO is reporting third quarter net sales of $3.5 billion. That’s an increase of nearly 11 percent from last year. AGCO officials said the record third quarter results are due to good crops, favorable farm economics and an improved supply…$2 Billion Pricetag for AGCO-Trimble JV
Published September 28, 2023
AGCO is paying Trimble $2 billion for an 85 percent stake in the company. The Manitoba-based autonomous company, JCA Technologies, which was acquired by AGCO last year will also be part of the joint venture. The precision agriculture technologies will…Grand Farm Anchor Tenant Announced
Published September 14, 2023
AGCO will be an anchor tenant for the Grand Farm Innovation Campus near Casselton, North Dakota. AGCO plans to build a 300 acre operation called Dakota Smart Farm at Grand Farm. The focus will be on the development of farming…1Q Sales Increase for AGCO
Published May 3, 2023
AGCO reports first quarter net sales of $3.3 billion. That’s up 24 percent from the same quarter last year. AGCO officials cited a healthy farm economy and strong global demand as reasons for the sales increase.Supply Chain Issues Persist
Published November 2, 2022
In a call with investors, AGCO officials said the supply chain problems are continuing. The farm machinery company is keeping higher-than-normal levels of raw materials and equipment inventory on hand. Like other farm equipment companies, AGCO has machinery waiting for…AGCO Income Increases Seven Percent
Published July 29, 2022
AGCO reports second quarter sales of nearly $3 billion, an increase of 2.3 percent from one year ago. For the first six months of the fiscal year, AGCO has net income of $5.6 billion. That’s up over seven percent from…Ransomware Attack Hits AGCO
Published May 9, 2022
A cyberattack has affected operations at AGCO production facilities and dealers. AGCO has not said which facilities are impacted. The ransomware attack is taking place during planting season while the industry is already dealing with supply chain disruptions.