DULUTH, Ga.--(BUSINESS WIRE)--Jan. 6, 2012--
AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and
distributor of agricultural equipment, today announced that it has
agreed to acquire 60% of Santal Equipamentos for $31 million, subject to
regulatory approval. Headquartered in Ribeirão Preto, Brazil, Santal
Equipamentos manufactures and distributes sugar cane planting,
harvesting, handling and transportation equipment and replacement parts
across Brazil.
“Santal’s products are recognized for their strength, quality and fuel
efficiency by its customers, including the largest sugar producers in
Brazil. Santal is an excellent fit with AGCO and will allow us to expand
our offering in the Brazilian sugar cane sector and provide our
customers with an even wider range of products and services,” stated
Martin Richenhagen, AGCO’s Chairman, President and Chief Executive
Officer.
Safe Harbor Statement
Statements which are not historical facts, including expectations
regarding this transaction 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, 2010. AGCO disclaims any obligation to update any
forward-looking statements except as required by law.
ABOUT AGCO
AGCO, Your Agriculture Company, (NYSE: AGCO), a Fortune 500 company, was
founded in 1990 and offers a full product line of tractors, combines,
hay tools, sprayers, forage equipment, tillage, implements, and related
replacement parts. AGCO agricultural products are sold under the core
brands of Challenger®, Fendt®, Massey Ferguson® and Valtra® and are
distributed globally through 2,600 independent dealers and distributors
in more than 140 countries worldwide. Retail financing is available
through AGCO Finance for qualified purchasers. AGCO is headquartered in
Duluth, GA, USA. In 2010, AGCO had net sales of $6.9 billion. http://www.AGCOcorp.com
Source: AGCO
For AGCO
Media Contact:
Stockheim Media Inc.
Rebecca
Fabian, 646-415-8518
rf@stockheim-media.com
or
Investor
Contact:
Greg Peterson, 770-232-8229
Director, Investor
Relations
Greg.Peterson@AGCOcorp.com
