Peter Paffen, Vice President and Spokesman for the AGCO/Fendt Management: “The expansion of the development centre at the AGCO Marktoberdorf location allows us to take important future projects forward faster and better, so that we can maintain our reputation on the market as the trendsetter and leader in innovations. Our special focus lies on electronics, which will allow us to push forward with systems and automation.”
Fendt is the leading high-tech brand of the AGCO Corporation for customers with the highest demands. Tractors and harvesting machines from Fendt are at work in the fields of enterprise-oriented farms and in other interesting areas of application around the world. In many areas of agricultural technology, Fendt is the pioneer par excellence when it comes to trendsetting innovations. Fendt customers therefore benefit more quickly from the latest technology for enhancing performance, efficiency and profitability in their farming businesses. AGCO Fendt employs some 3,300 people in the areas of research and development, sales and marketing, production, service and administration at its Marktoberdorf and Asbach-Bäumenheim sites in Bavaria, Germany.
AGCO, Your Agriculture Company, (NYSE: AGCO) (www.agcocorp.com) 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 2,600 independent dealers and distributors, in more than 140 countries worldwide. Retail financing is available through AGCO Finance for qualified customers. AGCO is headquartered in Duluth, Georgia, USA. In 2010, AGCO had net sales of $6.9 billion.
Safe Harbor Statement
Statements which are not historical facts, including expectations regarding the development and sales of the products produced by the joint venture, 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.