“The AGCO and Topcon partnership is a strategic initiative designed to help AGCO deliver on its vision of providing high-tech solutions for professional farmers feeding the world,” said Martin Richenhagen, Chairman, President and Chief Executive Officer of AGCO. “The strength of AGCO’s brands of agricultural equipment combined with Topcon Positioning Systems’ proven technology products will provide numerous benefits to farmers looking for the latest products to make them more effective, efficient, environmentally responsible and ultimately, more profitable.”
AGCO has a strong leadership position in the global agricultural equipment market and is supported by AGCO’s Advanced Technology Solutions (ATS) which specializes in the areas of machine control, machine management and precision farming for its core global brands – Challenger, Fendt, Massey Ferguson and Valtra.
“The partnership between TPS and AGCO will greatly benefit both companies, their customers and potential customers," said Ray O'Connor, president and CEO of Topcon Positioning Systems. "Using products resulting from the AGCO and TPS partnership, farmers will have access to the leading technology."
TPS is the leading global developer and manufacturer of precision positioning equipment and offers the widest selection of precision GPS systems, laser, optical surveying and machine control products.
Today, more than ever, technology has become synonymous with increased productivity and has become a key factor when purchasing farm equipment. AGCO customers rely on technology that turns field data into reliable, useful information. In order to create and maintain a competitive edge, technological product advancements are of paramount importance to continued success, further reinforcing the significance of this partnership.
AGCO, Your Agriculture Company, (NYSE: AG) was founded in 1990 and offers a full product line of tractors, combines, hay tools, sprayers, forage, tillage equipment, implements, and related replacement parts. AGCO agricultural products are sold under the core brands of Challenger®, Fendt®, Massey Ferguson® and Valtra®, and are distributed globally through more than 3,000 independent dealers and distributors, in more than 140 countries worldwide. AGCO provides retail financing through AGCO Finance. AGCO is headquartered in Duluth, Georgia, USA. In 2008, AGCO had net sales of $8.4 billion. Please visit our website at www.AGCOcorp.com.
ABOUT Topcon Positioning Systems
Topcon Positioning Systems ( www.topconpositioning.com) a developer and manufacturer of positioning equipment, offers the world’s leading selection of innovative precision Global Positioning System (GPS) Geographic Information System (GIS) laser, agriculture, optical surveying, and machine control products, software and applications. Topcon Corporation is traded on the Tokyo Stock Exchange (7732).
Certain statements in this release, including projections of improved fuel efficiency and increases in engine power and torque relate to future events and expectations and as such constitute forward-looking statements involving known and unknown factors that may cause actual results of AGCO Corporation to be different from those expressed or implied in the forward-looking statements. In this context, words such as "will," "likely," "offers" or other similar words and phrases often identify forward-looking statements made on behalf of AGCO. These forward-looking statements involve a number of risks and uncertainties. It is important to note that actual results of the company may differ materially from those described or implied in such forward-looking statements. Further information concerning these and other factors is included in AGCO’s filings with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2007. AGCO disclaims any obligation to update any forward-looking statements.
Nancy Klentak, 770-232-8209
Global Corporate Communications Manger
Greg Peterson, 770-232-8229
Director, Investor Relations