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| Formerly |
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|---|---|
| Company type | Public |
| Industry | Agricultural machinery |
| Predecessor |
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| Founded | 1990; 36 years ago (1990) |
| Headquarters | Duluth, Georgia, U.S. |
Area served | Worldwide |
Key people |
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| Products | Tractors,Combines,Hay tools,Foragers,Seeding &Tillage equipment, Self-propelledsprayers, Smart Farming Technology,Diesel engines andgenerators |
| Brands | Challenger,Fendt,Gleaner, GSI,Massey Ferguson, RoGator, TerraGator, Sunflower Manufacturing,Valtra,White Farm Equipment, JCA Technologies |
| Services | Parts, service, finance |
| Revenue |  US$14.41 billion (2023) |
| US$1.17 billion (2023) | |
| Total assets | US$11.42 billion (2023)[1] |
| Total equity | US$4.66 billion (2023)[1] |
Number of employees | 27,900 (2023) |
| Website | agcocorp.com |
AGCO Corporation is an Americanagricultural machinery manufacturer headquartered inDuluth, Georgia, United States. It was founded in 1990. AGCO designs, produces and sellstractors,combines,foragers,hay tools, self-propelledsprayers, smart farming technologies,seeding equipment, andtillage equipment.
AGCO was established on June 20, 1990, when Robert J. Ratliff, John M. Shumejda, Edward R. Swingle, and James M. Seaver, who were executives atDeutz-Allis, bought out Deutz-Allis North American operations from the parent corporationKlöckner-Humboldt-Deutz AG (KHD), a German company which owned theDeutz-Fahr brand of agriculture equipment. KHD had purchased portions of theAllis-Chalmers agricultural equipment business five years earlier.[2] After the organization of the company, Robert Ratliff was selected to be the company's first chairman.[3]
The company was called Gleaner-Allis Corporation, then the name was changed to Allis-Gleaner Corporation, or AGCO. TheDeutz-Allis line of tractors was renamed AGCO-Allis, andGleaner became a brand of its own for combines. The Deutz-Allis brand continued inSouth America until 2001, when it was renamed AGCO-Allis. In 2001, AGCO Allis was renamed AGCO inNorth America.
In March 1991, AGCO purchased the Hesston Corporation, which is inHesston, Kansas,[4][5] gaining hay and forage equipment as well as technologies such as the grain auger, invented in 1947 byLyle Yost.[6] Hesston had a 50 percent joint venture withCase International, now a part ofCNH Global. AGCO purchased theWhite Tractor line from the Allied Corporation's White-New Idea company.[7] In 1993, AGCO purchased the remainder ofWhite-New Idea,[8] a manufacturer of New Idea hay equipment, manure spreaders, and White planters with a large manufacturing plant inColdwater, Ohio.
AGCO purchased theNorth American distribution rights to global agricultural equipment manufacturerMassey Ferguson in 1993 and purchased the company fromVarity the following year. The acquisition of England-based Massey Ferguson gave AGCO access to markets in Europe and around the world. At the time, Massey Ferguson had 20 percent of the global market share for tractors.[9] AGCO also purchased McConnell Tractors in 1994,[4] manufacturer of the large articulated Massey Ferguson tractors. AGCO developed the Agcostar line of articulated tractors. Later in 1994, the Black Machine line of planters was purchased.[10]
In 1995 AgEquipment Group was bought;[7] it manufactured tillage equipment and loaders under the Glenco, Tye and Farmhand brands. In 1996, acquisitions went international with the purchase ofIochpe-Maxion inBrazil.[4] It was the Brazilian company which had rights to the Massey Ferguson brand and manufacturing in the region, as well as theMaxion brand of industrial equipment. In the same year AGCO purchased Deutz Argentina, the number one leader of tractors in Argentina.[8] Also in 1996, AGCO purchased Western Combine Corporation and Portage Manufacturing in Canada.[11] Western Combine had previously purchased the assets of the Massey Combine Corporation's combine operation, which had been spun off by Massey Ferguson.
In 1997 the company purchasedFendt which is based inGermany, the German tractor company.[12] The acquisition of Fendt was contingent on three conditions; 1) The Fendt name would be retained, 2) The factory inMarktoberdorf would continue to operate, and 3) a fair price would be paid for the company. Also in 1997, AGCO acquired Dronningborg Industries inDenmark, the manufacturer of European Massey Ferguson combines, and former manufacturer of Dronningborg combines.[13]
In 1998, AGCO made a joint venture with Deutz AG to produce engines inArgentina,[14] and purchased the Spra-Coupe and Willmar companies.[15] Spra-Coupe and Willmar aresprayer companies inNorth America. SpraCoupe originated inBismarck, North Dakota. After being purchased by AGCO, the manufacturing of SpraCoupes was moved toWillmar, Minnesota where the Willmar branded fertilizer tenders and "Wrangler" articulated loaders were being manufactured. SpraCoupe and Willmar products were manufactured in Willmar from 1998 to 2001.
In the year 2000, AGCO bought out its partnerCNH Global N.V. in the Hay and Forage Industries joint venture.[16]
In 2001, AGCO purchasedAg-Chem Equipment, expanding its application equipment business.[17] Ag-Chem Equipment was based inJackson, Minnesota, and developed the TerraGator flotation-type and RoGator rowcrop-type applicators. Also in 2001, the SpraCoupe and Willmar brands moved their manufacturing from Willmar, Minnesota, to the Jackson facility and theAgco-Allis andWhite tractor lines were merged in North America under theAGCO brand, continuing in the orange color.
In 2002, AGCO purchased rights to theChallenger name and the tracked tractors from theCaterpillar Corporation,[18] giving the firm a well-known brand name and high-power tracked tractors. The firm further developed the Challenger line into: wheeled tractors, using tractors manufactured byIseki,Agritalia, the Massey Ferguson factory and the Brazilian Valtra factory; combines, rebranding some Massey Ferguson/Gleaner-built combines; and hay equipment, using Hesston-built hay equipment. AGCO also purchased the Sunflower Manufacturing Company inBeloit, Kansas, which manufactures tillage, seeding, and specialty harvesting equipment.[19]
In 2004, AGCO purchased the Valtra tractor company from theKone Group, inFinland.Valtra had licensing agreements with theEicher company inIndia for tractor production, and also with the HEMA group inTurkey. The purchase of Valtra also included SISU Diesel engines. Since 2012, this Finland-based diesel engine manufacturer with production, for example in Brazil,[20][21] has operated with the nameAGCO Power.[22]
2006 saw a re-focusing of the various brands and subsidiaries, and the reduction of individual brands. AGCO announced plans to combine some, and make some only part of a larger brand, or co-branding. Examples include the Massey Ferguson 9635 Hesston self-propelled swather, and the AGCO 9365 Hesston self-propelled swather. Challenger has seen further expansion with the further consolidation of the AgChem brand into Challenger, and the introduction ofAgritalia built tractors and an articulated Challenger tractor. In August 2006, AGCO saw its first change in the position of chairman since its founding with the selection of Martin Richenhagen to succeed Robert Ratliff.[23]
In 2007, AGCO bought 50% ofLaverda S.p.A. fromARGO SpA, which included the Gallagnani andFella-Werke hay equipment brands.[24][25]
In 2008/2009 AGCO, the Challenger, Valtra, and Massey Ferguson large row crop tractors were launched in Europe and North America respectively with AGCO's e3 Selective Catalytic Reduction (SCR) emission reduction technology.[26]
Late in 2009, the firm announced that it would phase out orange AGCO tractors by 2011.[27]
In late 2010, the firm announced the plan to acquire the remaining 50% of Laverda, which includedFella-Werke as well. The acquisition was finalized in March 2011.[28][29][30]
In 2011, the firm plans to transfer its assembly of high-horsepower wheeled tractors sold in North America fromBeauvais, France toJackson, Minnesota, where it will expand the plant by 75,000 square feet (7,000 m2).[31] The expansion was completed in 2012.[32]
In 2011, the firm said that it will invest $40 million in itsHesston, Kansas plant with a new 200,000-square-foot (19,000 m2) painting and finishing building. Construction began June 2011 and was completed in 2013.[33][34][35]
In October 2011, AGCO purchased GSI, based inAssumption, Illinois, a manufacturer of grain storage and handling equipment.[2]
In 2012. AGCO acquired 60% of Santal Equipamentos, a sugar cane planting and harvesting equipment. It also purchased 80% of Shandong Dafeng Machinery Co, a combine harvester manufacturer in China. AGCO formed theAlgerian Tractors Company joint venture with the Algerian brandEtrag with 49% ownership.
In 2013, GSI acquired Johnson System, based inMarshall, Michigan, a manufacturer of catwalks and towers.[36] In 2013, AGCO started Fuse Technologies, a smart farming technology division.[37]
In 2016, AGCO acquired Cimbria, based inThisted, Denmark, a processing, handling and storage of seed and grain business.[38]
In 2017, AGCO acquired Precision Planting, based inTremont, Illinois, a planting equipment and technology business.[39]
In 2017, AGCO acquired the forage machinery line from Lely, including balers, loading wagons, mowers, tedders, rakes, and the rights to the entire portfolio of the defunct Mengele Agrartechnik. This included factories in Wolfenbuettel (D) and Waldstetten (D). The factory in Maassluis (NL) will be closed in 2018.
In September 2020, AGCO acquired 151 Research Inc., aWinnipeg, Manitoba based company that specializes in grain storage research and development.[40]
In 2021, AGCO named Eric Hansotia its third chairman, succeeding Richenhagen, who retired after approximately 15 years as head of the company.[41] Hansotia has been working for AGCO since 2013 and became itschief operating officer in October 2018.[42] Under Hansotia, AGCO made a series of acquisitions in theprecision agriculture field, including: Headsight, aBremen, Indiana-based precision harvesting company,[43] and Farm Robotics and Automation, aBarcelona-based precision livestock agriculture firm in 2021;[44][45][46] North Dakota-based Appareo Systems, an agriculture-focusedartificial intelligence andmechatronics development firm,[47][48] andWinnipeg, Manitoba,agriculture automation firm JCA Industries in 2022;[49][50] the digital assets of German agricultural technology company FarmFacts in 2023;[51] and the purchase of 85 percent of Colorado-basedTrimble Inc. forUS$2 billion in 2024, the largest acquisition in company history. The Trimble acquisition resulted in PTx Trimble, ajoint venture between the companies for autonomizing andretrofitting farm equipment.[49][52][53]
In July 2024 AGCO announced it had reached an agreement with private equity firm American Industrial Partners to divest its Grain and Protein divisions including GSI, Automated Production, Tecno, Cimbria, and Cumberland brands.[54]
| Location | Equipment | Notes |
|---|---|---|
| Beloit, Kansas,USA | Tillage and seeding tools, planters | previously Sunflower Manufacturing |
| Hesston, Kansas, USA | Combines & headers, large square balers, Massey Ferguson windrowers[55] | previously Hesston Corporation[5] |
| Jackson, Minnesota, USA | Tractors (high horsepower and row-crop), application equipment | previously Ag-Chem Equipment |
| Tremont, Illinois, USA | Precision Planting | |
| Querétaro,Mexico | small square balers, large round bales, rotary mowers | production moved from Hesston in 2024[55] |
| Canoas, Rio Grande do Sul,Brazil | Tractors (low to high power), application equipment | |
| Santa Rosa, Rio Grande do Sul, Brazil | combines, planters | |
| Changzhou,P.R. China | Tractors (compact and mid-range) | |
| Linnavuori,Nokia, Finland | Diesel engines | Acquired with purchase of Sisu Diesel (now AGCO Power) |
| Äänekoski, Finland[56] | Tractors | |
| Beauvais,France | Tractors (row-crop) | |
| Asbach-Bäumenheim,Bavaria,Germany | Cab environments | |
| Feucht, Bavaria, Germany | Hay tools | Acquired with purchase of Fella-Werke |
| Marktoberdorf, Bavaria, Germany | Tractors (row-crop and high horsepower) | |
| Waldstetten, Bavaria, Germany | Forage tools | |
| Wolfenbuttel,Lower Saxony, Germany | Hay tools | |
| Hohenmolsen,Saxony-Anhalt, Germany | Application equipment and forage harvesters | |
| Breganze, Italy | Combine harvesters | Acquired with purchase of Laverda |
| Budapest, Hungary | Shared service center |
Media related toAGCO at Wikimedia Commons
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