Michelin today announced its plan to invest more than $100 million into its Junction City, Kan. operations over the next 5 years to increase production capacity of tracks for agricultural equipment.

The location of the Global Parts Distribution Center leverages the manufacturing capabilities of the Vermeer mile, where most Vermeer products are assembled.

Order book is up 7% year-over-year as of March 31, 2023, supporting the prospect of continued growth through 2023

Supply chain issues continue to hamper sales growth, and the company continues to have a large backlog.

Plevna Implement, Laker Farm Implement and AgRevolution dealerships will provide sales and support services throughout Indiana via current and future expansions in facilities and services, AGCO said.

The positive results reported for the quarter were achieved through a combination of improved supply chain performance, higher manufacturing throughput and effective price management, the company said.