AGCO CEO Says a Merger
Isn’t Out of the Question
AGCO’s Chief Executive Officer Martin Richenhagen is stirring the news pot again. He reportedly told a German publication recently that he doesn’t rule out a takeover by another company or a merger with a peer.
According to a Bloomberg report earlier today, the Frankfurter Allgemeine Zeitung says that the U.S. maker of farm equipment, forecasts that sales will rise to $10 billion this year, from $9 billion in 2011. It goes on to say that there may be logic in a merger with Caterpillar Inc. because AGCO uses many products from that company, FAZ cited Richenhagen as saying.
Story Link: http://www.bloomberg.com/news/2012-01-05/agco-chief-forecasts-sales-of-10-billion-this-year-faz-reports.html
Posted January 5, 2012
Oops typed Scott instead of Luke!!!! Please forgive me
Wondered how long it would take for someone to notice this article was written over a year ago. I stand corrected on who owns the Lexion combine and it really didn't matter in what I was saying anyway. At least i know Scott doesn't work for Claas or he would be informed enough to spell the name right and yes i respond for the sport of it.
This headline and story is irrelevant. Did anyone notice the date of the original release? 1/5/2012!! Even at that time it was only speculation.
Looking into the future of what AGCO does build our products Stand alone, everything our conglomerate does build and will build has Integrity as always has, we are in the worlds eyes products that farmers can trust to get them through their work day.
Built tough and very firm, when you test our equipment it holds up. Try it buy it you will like it.
As far as AGCO being bought out or merged I don't see that happening any time soon. If you hear it check it at agco.com
This CEO is the one who announced the "2 brand" strategy rogue over the internet and left the home office in panic mode and Agco dealers store investment devalued by millions in a few seconds. A "Horse whisperer"
should realize iron peddlers can be destroyed by loud booms from loose cannon verbage.
Dejavus all over again.
Cat does not need anyones engine in light that they own engine power most of their equipment right to the 400 ton 4,000hp 3 million dollar 797F off-highway hauler.Caterpillar also developed the Mobil trac system that first appearred on the Challenger 65 in 1986-87.
Me thinks the CEO talks too much, too soon.
Caterpillar still owns the trademark "Challenger" AGCO does not. Seems strange. Caterpillar has never made good bed partners with anyone. If I am wrong tell me who then. Caterpillar spent over $300K developing the MT700-800 tractor and then sold it to AGCO for $30K and even through in the Delalb factory. I still smell something.
it sad to read comment from misinformed reader who just blab about for a sport, i guess. in previous mail Randy mentioned Cat selling " their " Lexion combine to Class, be inform Randy that Lexion was/is a Class combine as Cat never develop or built a combine but merely had an agreement with Class to market the Class combine in America under the Cat name ( Lexion ) so they have not sold their combine to Class it was already a Class they just terminated their marketing agreement and exit the ag market. Before you express personal opinion take time to verify authenticity.
Cat needs there engines
Has e started any contact with Doug Oberhelman as this is being written?
I can't believe that Cat could be back to agriculture machinery market. In my opinion Cat will not fight against Deere. Deere is increasing too much around the world and regarding agriculture Deere has a long history and culture.
Ironically that is where Caterpillar started out thru its founders Daniel Best,Ben Holt is agriculture.
Mr Richenhagen needs to think about dealer and customer confidence before making such statements. Cat got out of the Ag business and sold the Lexion combine to Claas and the Challenger tractor to Agco because they weren't successful in the Ag market. The only thing the Challenger line did for Agco was allow them to put a Challenger Dealer on top of a Massey dealer in the same locality. By having the exact same equipment painted different colors at different dealerships it only creates inline competition. Sad to say, but Agco has the reputation of not respecting their dealers which effects customer confidence and loyalty. In the past Mr. Richenhagen has said he was going to buy CNH. All of his big talk is based on the strong Ag market right now.just wait it will change too. I would like to hear Mr. Richenhagen explain how terminating dealers has helped Agco's loyalty to their customers. Cat owns Perkins and is the biggest tie to Agco while Agco owns Sisu which is every bit as good as Perkins only Agco didn't know it when they bought Valtra.
Cat tried the ag business.Didn"t like it much.Cat does not want to be in a business they can't dominate. Like being #1 or #2 in that market...
It has been on our mind that Caterpillar could buy Agco and not just merge with them.After all Cat sold agco its Challenger line in 2001.Cat just paid 8.6 billion for Bucyrus and its mining equipment and close to a billion for Electric Motive Diesel that makes locomotives