AGCO was established on June 20, 1990, when Robert J. Ratliff, John M. Shumejda, Edward R. Swingle, and James M. Seaver, who were executives at Deutz-Allis, bought out Deutz-Allis North American operations from the parent corporation Klöckner-Humboldt-Deutz AG (KHD), a German company which owned the Deutz-Fahr brand of agriculture equipment. KHD had purchased portions of the Allis-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. The Deutz-Allis line of tractors was renamed AGCO-Allis, and Gleaner became a brand of its own for combines. The Deutz-Allis brand continued in South America until 2001, when it was renamed AGCO-Allis. In 2001, AGCO Allis was renamed AGCO in North America.
In March 1991, AGCO purchased the Hesston Corporation which is in Hesston, Kansas[4][5] gaining hay and forage equipment as well as technologies such as the grain auger, invented in 1947 by Lyle Yost.[6] Hesston had a 50 percent joint venture with Case International, now a part of CNH Global. AGCO purchased the White Tractor line from the Allied Corporation's White-New Idea company.[7] In 1993, AGCO purchased the remainder of White-New Idea,[8] a manufacturer of New Idea hay equipment, manure spreaders, and White planters with a large manufacturing plant in Coldwater, Ohio.
AGCO purchased the North American distribution rights to global agricultural equipment manufacturer Massey Ferguson in 1993 and purchased the company from Varity 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 of Iochpe-Maxion in Brazil.[4] It was the Brazilian company which had rights to the Massey Ferguson brand and manufacturing in the region, as well as the Maxion 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 purchased Fendt which is based in Germany, the German tractor company.[12] Fendt is well known for its advanced technology and superior manufacturing quality. The acquisition of Fendt was contingent on three conditions; 1) The Fendt name would be retained, 2) The factory in Marktoberdorf would continue to operate, and 3) a fair price would be paid for the company. Also in 1997, AGCO acquired Dronningborg Industries in Denmark, 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 in Argentina,[14] and purchased the Spra-Coupe and Willmar companies.[15] Spra-Coupe and Willmar are sprayer companies in North America. SpraCoupe originated in Bismarck, North Dakota. After being purchased by AGCO, the manufacturing of SpraCoupes was moved to Willmar, 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 partner CNH Global N.V. in the Hay and Forage Industries joint venture.[16]
In 2001, AGCO purchased Ag-Chem Equipment, expanding its application equipment business.[17] Ag-Chem Equipment was based in Jackson, 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 the Agco-Allis and White tractor lines were merged in North America under the AGCO brand, continuing in the orange color.
In 2002 AGCO purchased rights to the Challenger name and the tracked tractors from the Caterpillar 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 by Iseki, 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 in Beloit, Kansas which manufactures tillage, seeding, and specialty harvesting equipment.[19]
In 2004 AGCO purchased the Valtra tractor company from the Kone Group, in Finland. Valtra had licensing agreements with the Eicher company in India for tractor production, and also with the HEMA group in Turkey. 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 name AGCO 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 of Agritalia 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 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 included Fella-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 from Beauvais, France to Jackson, Minnesota, where it will expand the plant by 75,000 square feet (7,000m2).[31] The expansion was completed in 2012.[32]
In 2011, the firm said that it will invest $40 million in its Hesston, Kansas plant with a new 200,000-square-foot (19,000m2) painting and finishing building. Construction began June 2011 and was completed in 2013.[33][34][35]
In October 2011, AGCO purchased GSI, based in Assumption, 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 the Algerian Tractors Company joint venture with the Algerian brand Etrag with 49% ownership.
In 2013, GSI acquired Johnson System, based in Marshall, Michigan, a manufacturer of catwalks and towers.[36] In 2013, AGCO started Fuse Technologies, a smart farming technology division.[37]
In 2017, AGCO acquired Precision Planting, based in Tremont, Illinois, a planting equipment and technology business.[38]
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., a Winnipeg, Manitoba based company that specializes in grain storage research and development.[39]
2021–present: Eric Hansotia era
In 2021, AGCO named Eric Hansotia its third chairman, succeeding Richenhagen, who retired after approximately 15 years as head of the company.[40] Hansotia has been working for AGCO since 2013 and became its chief operating officer in October 2018.[41] Under Hansotia, AGCO made a series of acquisitions in the precision agriculture field, including: Headsight, a Bremen, Indiana-based precision harvesting company,[42] and Farm Robotics and Automation, a Barcelona-based precision livestock agriculture firm in 2021;[43][44][45] North Dakota-based Appareo Systems, an agriculture-focused artificial intelligence and mechatronics development firm,[46][47] and Winnipeg, Manitoba, agriculture automation firm JCA Industries in 2022;[48][49] the digital assets of German agricultural technology company FarmFacts in 2023;[50] and the purchase of 85 percent of Colorado-based Trimble Inc. for US$2 billion in 2024, the largest acquisition in company history. The Trimble acquisition resulted in PTx Trimble, a joint venture between the companies for autonomizing and retrofitting farm equipment.[48][51][52]
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.[53]
Massey Ferguson is an agricultural machinery manufacturer, established in 1953 through the merger of farm equipment makers Massey-Harris of Canada and the Ferguson Company of the United Kingdom. It was based in Coventry then moved to Beauvais in 2003 when the Coventry factory was shut down.
Fendt is a German agricultural machinery manufacturer founded in 1930 by Xaver Fendt in Marktoberdorf, Allgäu region, Germany. Fendt manufactures tractors, combine harvesters, balers, telescopic handlers and row crop planters. It was purchased by AGCO Corporation in 1997.
Allis-Chalmers was a U.S. manufacturer of machinery for various industries. Its business lines included agricultural equipment, construction equipment, power generation and power transmission equipment, and machinery for use in industrial settings such as factories, flour mills, sawmills, textile mills, steel mills, refineries, mines, and ore mills.
Varity was a Canadian multinational manufacturing company, created in 1986 from the remains of Massey Ferguson (MF) of Toronto, Ontario, Canada. Varity also owned Perkins Engines, headquartered in Peterborough, England, and Kelsey-Hayes Company, headquartered in Romulus, Michigan, as well as subsidiaries in many countries. After a period of corporate losses left MF insolvent, Varity was formed to detach the ownership of insolvent Massey Ferguson from its liabilities, including pension plans, and enable the Massey Ferguson brand and several subsidiaries to continue as working entities. By the year 2000, Varity itself was defunct, having successfully sold off its divisions.
Simplicity Manufacturing Company is an American company based in Port Washington, Wisconsin that builds lawn and garden equipment under various brands. The company was founded by William J. Niederkorn in 1922, and started building walk-behind two-wheeled tractors in 1939. Between 1941 and 1945, due to World War II, Simplicity Manufacturing temporarily halted production of lawn and garden products, and manufactured electric fence controllers and external surface grinders to satisfy the War Production Board. Simplicity built is first riding tractor in 1957 which was the model Wonderboy. The company rapidly expanded its product line in the sixties to meet the demands of the population shift to American suburbs. Allis-Chalmers purchased the company in 1965, and Simplicity's management bought it back in 1983. Simplicity Manufacturing celebrated its 75th anniversary in 1997 with a special 75th anniversary tractor model. The tractor featured a special blue paint scheme with chrome Harley-Davidson lights and muffler.
Deutz-Allis was a company formed when Deutz-Fahr of Germany, part of KHD, purchased the agricultural assets of the Allis-Chalmers corporation in 1985.
White Farm Equipment is a manufacturer of agricultural machinery, now discontinued and owned by AGCO.
Valtra is an agricultural machinery manufacturer based in Äänekoski, Finland. Valtra's products include tractors, combine harvesters, sugar cane harvesters, self-propelled sprayers and seed drills. Valtra has been part of the American AGCO Corporation since 2004.
Tractors in India are a major industry and significant contributor to its agriculture output gains.
Eicher tractor was a manufacturer of tractors, agricultural machinery and engines. The company was founded in 1936 by the brothers Josef and Albert Eicher in the Upper Bavaria town of Forstern. The brand name "Eicher" was last used in Europe in 2009 by the Dutch agricultural machinery dealer Hissink & Zonen and is still in use today in India by Eicher Motors, which manufactures tractors & commercial vehicles by this name.
ARGO SpA is a family-owned Italian holding company owned by the Morra family that manufactures agricultural machinery. Founded by Valerio Morra in 1980, the company is based in Fabbrico, Emilia-Romagna, Italy. ARGO main products are tractors and combine harvesters.
Laverda is a manufacturer of combine harvesters and hay equipment, based in Breganze, Italy. It was founded in 1873 by Pietro Laverda to produce farming implements in the Province of Vicenza. 1956 was the year the first self-propelled Laverda combine, the M 60, was manufactured. Laverda formed a partnership with Fiat in 1981, and would be a part of that company for some 20 years.
Tractors and Farm Equipment Limited (TAFE) is an Indian agricultural machinery manufacturer based in Chennai, India. TAFE is one of the largest tractor manufacturer in the world and the second largest in India by volume.
The Gleaner Manufacturing Company is an American manufacturer of combine harvesters. Gleaner has been a popular brand of combine harvester particularly in the Midwestern United States for many decades, first as an independent firm, and later as a division of Allis-Chalmers. The Gleaner brand continues today under the ownership of AGCO.
Challenger is an American brand of agricultural tractors. Created in 1986 by Caterpillar Inc., the brand was sold to AGCO in 2002. Since then, Challenger tractors have been manufactured at the company's Jackson, Minnesota facility.
Lyle E. Yost was an agriculture equipment manufacturer and inventor in the United States.
The agricultural machinery industry or agricultural engineering industry is the part of the industry, that produces and maintain tractors, agricultural machinery and agricultural implements used in farming or other agriculture. This branch is considered to be part of the machinery industry.
Hubertus Michael Mühlhäuser is a business executive. He is a former CEO of CNH Industrial and Welbilt. Previously, he held senior positions at Karl-H. Mühlhäuser GmbH, AGCO Corporation, and Arthur D. Little.
↑ Dl, Esteban (19 January 2014). "Pesados Argentinos: AGCO". pesadosargentinos.blogspot.com.ar. Archived from the original on 22 December 2017. Retrieved 16 December 2017.
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US$14.41 billion (2023)
