Commits to Sustainable Growth and Operations
DULUTH, Ga.--(BUSINESS WIRE)--Sep. 27, 2012--
AGCO, Your Agriculture Company (NYSE: AGCO), a worldwide manufacturer
and distributor of agricultural equipment, today announced the release
of its first global sustainability report. The report describes AGCO’s
approach to enhancing the sustainability of its business processes and
global agriculture. It presents data supporting the strategy and updates
progress towards change. “At AGCO, sustainability is vital to our vision
to offer high-tech solutions for farmers feeding the world,” said Martin
Richenhagen, Chairman, President and CEO of AGCO. “We are in a very
unique position to impact sustainability along the manufacturing and
agricultural value chains. We developed our approach to provide the best
impact to both.”
In 2011, AGCO kicked off a comprehensive corporate sustainability
initiative. The company developed a plan to invest in projects and
program development in areas that will reduce operating expenses,
develop revenue opportunities, and reduce operating risks.
“We are working to integrate sustainability into our operations by
continuously improving resource management. Our employees throughout the
world are key partners in this journey and we will look to them for new
ideas to enhance efficiency, reduce costs, eliminate waste and create
whole-farm technology solutions for our customers,” continued
The company is already working to design and develop solutions that
address the evolving needs of farmers and reduce environmental impacts.
The report, which aligns with the Global Reporting Initiative™, includes
company accomplishments such as:
Downstream-focused innovation: In 2011, AGCO directed $275.6 million
to research and engineering, a 25.5% increase over 2010.
Operations: Among AGCO’s largest wholly-owned sites, more than half
are certified to ISO 14001 and/or the EU Eco-Management and Audit
Scheme. Going forward AGCO will monitor and report energy use by
source and develop an energy management program that drives efficiency
and cost saving across its organization.
Supplier relations: AGCO released the company’s Supplier Code of
Conduct to build and strengthen relationships with preferred suppliers
that support quality, environmental stewardship and high labor
During the first half of 2012 AGCO began building the structures to
drive accountability for its performance. AGCO’s development and
progress will be disclosed yearly in the company’s sustainability report.
The full report can be accessed at http://www.agcocorp.com/company/sustainability.aspx.
AGCO, Your Agriculture Company, (NYSE: AGCO), is a global leader focused
on the design, manufacture and distribution of agricultural machinery.
AGCO supports more productive farming through a full line of tractors,
combines, hay tools, sprayers, forage equipment, tillage, implements,
grain storage and protein production systems, as well as related
replacement parts. AGCO products are sold through four core machinery
brands, Challenger®, Fendt®, Massey Ferguson® and Valtra® and are
distributed globally through 3,100 independent dealers and distributors
in more than 140 countries worldwide. Retail financing is available
through AGCO Finance for qualified purchasers. Founded in 1990, AGCO is
headquartered in Duluth, GA, USA. In 2011, AGCO had net sales of $8.8
Safe Harbor Statement
Statements which are not historical facts, including expectations
regarding the development and sales of products in this region, are
forward-looking and subject to risks that could cause actual results to
differ materially from those suggested by the statements. These risks
include possible declines in demand for products as a result of weather,
demand and other conditions that impact farm income, actions by
producers of competitive products, and the general risks attendant to
acquisitions. Further information concerning these and other factors is
included in AGCO’s filings with the Securities and Exchange Commission,
including its Form 10-K for the year ended December 31, 2011. AGCO
disclaims any obligation to update any forward-looking statements except
as required by law.
Rebecca Fabian, +1.646.415.8518