Born to Lead
Follow RHINO, the leader in the agricultural equipment industry. Click here
Featured Product
AEI provides marketers, dealers and analysts with news, analysis and viewpoints on changes in the farm machinery marketplace.
$299.00
AGCO Buys 60% of Brazilian Ag Machinery Maker
AGCO 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 CEO.
Martin Richenhagen said last month a deal was at hand after AGCO's efforts to develop its own harvester proved to be unsatisfactory. Rivals Deere and CNH already have cane harvesters on the market. Sugar cane harvesters are expected to be hot sellers in Brazil in the coming years, as the government tries to eliminate the practice of burning fields to make the cane easier to cut by hand.
Posted January 6, 2012
Another Great Fit for AGCO! AGCO keeps adding key pieces of the puzzle and this is a perfect fit! With the Dominance of the South American Market with Massey Ferguson and Valtra Brands growing their business will help them grow all areas even more. AGCO is investing heavily in Research & Development and I think you will see the same innovation be brought to the South American Sugar Cane Harvesting Business. AGCO is the only manufacturer 100% dedicated to Agriculture and continues to diversify in Agriculture.
AGCO has again acquired a reputable brand and product line to complement the brands and products it already owns. AGCO will trim the fat and go forward. That is what AGCO has always done. It has made AGCO an unprecedented success.
Whoopee do Agco is trying to get their fingers on another company to only enhance their parts and financing business. As the article said Agco isn't capable of developing anything that works. What is the purpose of the announcement when the regulatory approval hasn't happened yet. Someone is going to have egg on their face if it doesn't for some reason go through. I bet Agco hasn't paid anything yet waiting on the regulatory approval. This announcement is nothing but a stock ploy.
VIEW CART
E-Mail
RSS
