DULUTH, Ga.--(BUSINESS WIRE)--Mar. 13, 2009--
AGCO Corporation, Your Agriculture Company, (NYSE: AG), a worldwide
manufacturer and distributor of agricultural equipment, today announced
it has selected Topcon Positioning Systems (TPS) Tierra™ remote asset
management solution as its sole global advanced telematics provider.
AGCO will market the technology under the AGCONNECT™ brand name.
The multi-year agreement covers all AGCO equipment lines and is an
expansion of a strategic partnership between AGCO and TPS which provides
high-performing machine control, machine management and precision
farming technology products and services to the global agricultural
machinery market.
Tierra is the web portal through which all AGCONNECT™ information will
flow in a timely, easy-to-learn, easier-to-understand and reliable
format. TPS formed its Telematics Business Unit in 2008 and unveiled
Topcon Tierra, the most comprehensive mobile asset management system in
the marketplace.
Martin Richenhagen, Chairman, President and Chief Executive Officer of
AGCO said, “AGCO is dedicated to integrating user-friendly advanced
technology into our products to help our customers maximize the
productivity of their equipment and become more efficient, more
environmentally responsible and, ultimately, more profitable.”
“The expansion of the relationship between AGCO and TPS will greatly
benefit both companies, their customers and potential customers," said
Ray O'Connor, TPS President and CEO. "Using products resulting from the
AGCO and TPS partnership, farmers will have access to the leading
technology."
ABOUT TOPCON POSITIONING SYSTEMS
Topcon Positioning Systems, 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).
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 2,800 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.
Safe Harbor Statement
Statements which are not historical facts, including expectations
regarding market positioning, and sales growth 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 coordination of efforts
among two businesses. Further information concerning these and other
risks and uncertainties is included in AGCO’s filings with the
Securities and Exchange Commission, including AGCO’s Form 10-K for the
year ended December 31, 2008. 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