DULUTH, Ga.--(BUSINESS WIRE)--Apr. 25, 2017--
AGCO Corporation (NYSE: AGCO), a worldwide manufacturer and distributor
of agricultural equipment and solutions, mourns the passing of founder
and former President, Chairman and CEO Robert J. Ratliff.
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AGCO'sRobert J. Ratliff was inducted into the AEM (Association of Equipment Manufacturers) Hall of Fame in 2014. (Photo: Business Wire)
With a vision to provide solutions for the needs of the farm industry
worldwide, Mr. Ratliff guided the growth of AGCO from a small North
American company into one of the world’s largest manufacturers of
agricultural equipment. Through his entrepreneurial spirit, Mr. Ratliff
led the management team that purchased Deutz-Allis Corporation in 1990
as part of the formation of AGCO.
Under Mr. Ratliff’s leadership, AGCO acquired many of the most
well-known and respected equipment brands in the industry. In 1994, AGCO
purchased the worldwide holdings of Massey Ferguson, a perennial leader
in global tractor sales. In 1997, AGCO purchased Fendt, recognized as
the leading technology innovator in the industry. In 2002, Mr. Ratliff
led the acquisition of the Caterpillar agricultural track tractor
business and the Challenger brand. In 2004, AGCO completed the purchase
of Valtra, further strengthening AGCO’s leadership position in Europe
and South America.
His approach to leadership was hands-on, with strong support for
employees, their interests and goals. This also extended to the dealer
network, soliciting feedback as a regular practice and encouraging
frequent contact and engagement with senior management that today is
part of AGCO’s culture.
Mr. Ratliff guided the Company through a total of 21 acquisitions as it
grew sales from $200 million in 1990 to over $5.4 billion in 2005 and
retired as Chairman in 2006. Today, AGCO, headquartered in Duluth,
Georgia, sells its products in more than 150 countries. A 2014 inductee
to the Association of Equipment Manufacturers (AEM) Hall of Fame, Mr.
Ratliff made a significant impact on the global industry leaving a
legacy with the businesses he built and the people he developed and
supported.
Martin Richenhagen, AGCO’s Chairman, President and Chief Executive
Officer stated, “Bob Ratliff’s commitment to excellence and complete
dedication to AGCO, our customers, dealers, employees, and shareholders
helped our Company become what it is today. The Board of Directors,
Management Team, and our employees worldwide are very grateful for his
vision, leadership and dedicated service. He will be greatly missed, and
our thoughts are with his wife Gini and his entire family.”
A Celebration of Life service for Mr. Ratliff will be held at the
Atlanta Athletic Club, Johns Creek, Georgia, on Saturday, May 20, 2017
starting at 4 pm ET.
About AGCO
AGCO (NYSE: AGCO) is a global leader in the
design, manufacture and distribution of agricultural solutions and
supports more productive farming through its full line of equipment and
related services. AGCO products are sold through five core brands,
Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®, supported by
Fuse® precision technologies and farm optimization services, and are
distributed globally through a combination of over 3,000 independent
dealers and distributors in more than 150 countries. Founded in
1990, AGCO is headquartered in Duluth, GA, USA. In 2016, AGCO had net
sales of $7.4 billion. For more information, visit http://www.AGCOcorp.com. For
company news, information and events, please follow us on Twitter:
@AGCOCorp. For financial news on Twitter, please follow the hashtag
#AGCOIR.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170425006468/en/
Source: AGCO Corporation
AGCO Corporation
Lindsey Pettyjohn
Lindsey.Pettyjohn@AGCOcorp.com