DULUTH, Ga.--(BUSINESS WIRE)--Dec. 15, 2014--
AGCO, Your Agriculture Company, (NYSE:AGCO), a worldwide manufacturer
and distributor of agricultural equipment, today announced that its
Board of Directors has authorized a share repurchase program of up to
$500 million of the Company’s common stock. The latest authorization is
in addition to any previously authorized share repurchases and is
effective through December 31, 2016. Share repurchases may be made by
the Company from time to time in open market transactions at prevailing
market prices or in privately negotiated transactions.
"The new share repurchase authorization is indicative of AGCO's strong
cash generation capabilities," said Martin Richenhagen, Chairman,
President and CEO. "The new program underscores the Company's continued
commitment to building shareholder value." The actual timing, number and
value of shares repurchased under the latest program will be determined
by management at its discretion within the terms of the authorization,
and will depend on a number of factors, including the trading price of
the stock, and general market and business conditions and applicable
legal requirements. This program does not oblige the Company to
repurchase any shares under the authorization, and the program may be
suspended, discontinued or modified at any time, for any reason and
without notice.
About AGCO
AGCO (NYSE: AGCO) is a global leader in 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, grain storage and protein production systems, tillage
implements and replacement parts. AGCO products are sold through five
core machinery brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and
Valtra® and are distributed globally through approximately 3,100
independent dealers and distributors in more than 140 countries
worldwide. Founded in 1990, AGCO is headquartered in Duluth, GA, USA. In
2013, AGCO had net sales of $10.8 billion. www.AGCOcorp.com
Source: AGCO
AGCO
Greg Peterson, 770-232-8229
Director, Investor Relations
greg.peterson@agcocorp.com
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