DULUTH, Ga.--(BUSINESS WIRE)--Feb. 26, 2009--
AGCO Corporation, Your Agriculture Company, (NYSE: AG), a worldwide
manufacturer and distributor of agricultural equipment, today announces
a strategic partnership between AGCO and Topcon Positioning Systems. The
partnership will provide high-performing machine control, machine
management and precision farming technology products and services to the
global agricultural machinery market. Innovative and industry-leading
products will reach the market faster by combining AGCO’s equipment,
customer base and agricultural industry knowledge with research and
development from TPS.
“The AGCO and Topcon partnership is a strategic initiative designed to
help AGCO deliver on its vision of providing high-tech solutions for
professional farmers feeding the world,” said Martin Richenhagen,
Chairman, President and Chief Executive Officer of AGCO. “The strength
of AGCO’s brands of agricultural equipment combined with Topcon
Positioning Systems’ proven technology products will provide numerous
benefits to farmers looking for the latest products to make them more
effective, efficient, environmentally responsible and ultimately, more
profitable.”
AGCO has a strong leadership position in the global agricultural
equipment market and is supported by AGCO’s Advanced Technology
Solutions (ATS) which specializes in the areas of machine control,
machine management and precision farming for its core global brands –
Challenger, Fendt, Massey Ferguson and Valtra.
“The partnership between TPS and AGCO will greatly benefit both
companies, their customers and potential customers," said Ray O'Connor,
president and CEO of Topcon Positioning Systems. "Using products
resulting from the AGCO and TPS partnership, farmers will have access to
the leading technology."
TPS is the leading global developer and manufacturer of precision
positioning equipment and offers the widest selection of precision GPS
systems, laser, optical surveying and machine control products.
Today, more than ever, technology has become synonymous with increased
productivity and has become a key factor when purchasing farm equipment.
AGCO customers rely on technology that turns field data into reliable,
useful information. In order to create and maintain a competitive edge,
technological product advancements are of paramount importance to
continued success, further reinforcing the significance of this
partnership.
ABOUT AGCO
AGCO, Your Agriculture Company, (NYSE: AG) was founded in 1990 and
offers a full product line of tractors, combines, hay tools, sprayers,
forage, tillage equipment, 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 more than 3,000 independent dealers and distributors,
in more than 140 countries worldwide. AGCO provides retail financing
through AGCO Finance. AGCO is headquartered in Duluth, Georgia, USA. In
2008, AGCO had net sales of $8.4 billion. Please visit our website at www.AGCOcorp.com.
ABOUT Topcon Positioning Systems
Topcon Positioning Systems (www.topconpositioning.com)
a developer and manufacturer of positioning equipment, offers the
world’s leading selection of innovative precision Global Positioning
System (GPS) Geographic Information System (GIS) laser, agriculture,
optical surveying, and machine control products, software and
applications. Topcon Corporation is traded on the Tokyo Stock Exchange
(7732).
SAFE HARBOR
Certain statements in this release, including projections of improved
fuel efficiency and increases in engine power and torque relate to
future events and expectations and as such constitute forward-looking
statements involving known and unknown factors that may cause actual
results of AGCO Corporation to be different from those expressed or
implied in the forward-looking statements. In this context, words such
as "will," "likely," "offers" or other similar words and phrases often
identify forward-looking statements made on behalf of AGCO. These
forward-looking statements involve a number of risks and uncertainties.
It is important to note that actual results of the company may differ
materially from those described or implied in such forward-looking
statements. 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, 2007. AGCO
disclaims any obligation to update any forward-looking statements.
Source: AGCO Corporation
AGCO Corporation
MEDIA CONTACT:
Nancy Klentak, 770-232-8209
Global
Corporate Communications Manger
nancy.klentak@AGCOcorp.com
or
INVESTOR
CONTACT:
Greg Peterson, 770-232-8229
Director, Investor
Relations
greg.peterson@AGCOcorp.com