Industry News

Cervus CEO Borrows $10.2 Million from Company to Facilitate Change to His RRSP

Cervus Equipment Corp. says it has provided a $10.2-million short-term loan to its chief executive officer, Peter Lacey, who is also the company's largest shareholder, president and chairman of its board. The farm equipment dealer said the loan will assist Lacey and a member of his family in reorganizing their registered retirement savings plans, following amendments to tax rules announced by the federal government on June 16.
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Agritechnica 2011: Record number of stand bookings

The international exhibition for agricultural machinery and equipment Agritechnica 2011, being held from 15 to 19 November 2011 (Preview days on 13 and 14 November) at the Exhibition Grounds in Hanover, has displayed a hitherto unrivalled appeal for manufacturers of tractors, agricultural machinery, accessories and spare parts from home and abroad. With 2,611 direct exhibitors and 48 additionally represented companies from 48 countries, DLG as organizer can report a new record level.
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AGCO to Acquire GSI Holdings

AGCO, a worldwide manufacturer and distributor of agricultural equipment, today announced that it has agreed to acquire GSI Holdings Corp. (GSI) from affiliates of New York-based Centerbridge Partners, L.P. for $940 million.
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Forecast & Trends

New Equipment Prices Up 4.8%

Farm equipment dealers say that new equipment prices are up an average of 4.8% year-over-year, which is slightly higher than the 4.5% they reported in July. Meanwhile, used machinery pricing in September was consistent with what dealers reported in August.
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