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AGCO Corporation
Type Public (NYSEAGCO)
Founded 1990
Headquarters United States Duluth, Georgia, USA
Area served Worldwide
Key people Martin H. Richenhagen
(Chairman), (President) & (CEO)
Industry Manufactures
Products Agricultural equipment
Tractors
Combines
Self-propelled sprayers
Hay tools
Forage equipment
Diesel engines
List of brands
Revenue US$ 8.425 billion (2008)
Operating income US$ 565 million (2008)
Net income US$ 400 million (2008)
Total assets US$ 4.955 billion (2008)
Total equity US$ 1.957 billion (2008)
Employees 13,720 (2008)
Website AGCOcorp.com

AGCO Corporation (NYSEAGCO) is an agricultural equipment manufacturer based in Duluth, Georgia, USA. It was formed 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. In 2007 AGCO had sales of US$6.8 billion.

Contents

Company history

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.[1]

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 purchase 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 the Sisu 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 2007, AGCO bought 50% of Laverda (combine harvesters) from ARGO, which includes the Gallagnani and Fella-Werke hay equipment brands.[2]

Late in 2009, AGCO announced that it would phase out the orange AGCO Tractors by 2011.[3]

AGCO brands

AGCO manufactures or distributes the following brands of equipment:

  • AGCO Tractors (tractors, distributed throughout North America. NOTE: as of November 15, 2009, Agco has announced through the trade press that use of the Agco name on equipment will be phased out. Products will be sold as Massey Ferguson and Challenger.)
  • AGCO-Allis Tractors (distributed throughout South America)
  • Challenger (tractors, combine harvesters, hay equipment)
  • Fella-Werke (50% with ARGO) (Hay equipment in Europe)
  • Fendt (tractors, combine harvesters in Europe)
  • Gallagnani (50% with ARGO) (Hay equipment in Europe)
  • Gleaner (since 2006, marketed as AGCO Gleaner) (combine harvesters)
  • Hesston (since 2006, marketed as AGCO Hesston and Massey Ferguson Hesston) (hay and forage equipment)
  • Massey Ferguson (full-line of tractors, combine harvestors, equipment, ATVs in Europe)
  • Maxion (backhoes and fork trucks in Brazil)
  • Laverda (50% with ARGO) (combine harvesters in Europe)
  • New Idea (since 2006, marketed as AGCO New Idea) (hay and forage equipment, manure spreaders)
  • SisuDiesel Engines (high performance/low emission engines 50 - 400 HP)
  • SpraCoupe (sprayers)
  • Sunflower (since 2006, marketed as AGCO Sunflower) (tillage equipment)
  • RoGator (high clearance self-propelled application equipment, distributed as Challenger in markets outside North America and Australia)
  • TerraGator (self-propelled application equipment, distributed as Challenger in markets outside North America and Australia)
  • Valtra (tractors)
  • White (since 2006, marketed as AGCO White) (planters)
  • Willmar (application equipment)
  • AGCO Parts & Service (replacement parts)

Manufacturing Locations

  • AGCO Corp, 202 Industrial Park, Jackson, Minnesota, USA - Assembles the Challenger track and articulated 4WD tractors at this location.
  • AGCO Corp 420 W Lincoln Blvd. Hesston, Kansas, USA - Assembles balers, combines, forage harvesters, manure spreaders, planters and haying machines.
  • Valtra do Brasil Tractor Factory, Mogi das Cruzes, São Paulo state, Brazil. - The tractor factory consists of assembly, transmission and component plants including the assembly of diesel engines.
  • Valtra Inc., Valmetinkatu 2, 44200 Suolahti, Finland - Assembly of tractors.

References

External links

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