AGCO facts for kids

Quick facts for kids
AGCO Corporation

Formerly	Gleaner-Allis Corporation Allis-Gleaner Corporation
Type	Public
Traded as	NYSE: AGCO S&P 400 component
Industry	Agricultural machinery
Predecessor	Allis-Chalmers (1909–1985) Deutz-Allis (1985–1990)
Founded	1990; 35 years ago (1990)
Headquarters	Duluth, Georgia, U.S.
Area served	Worldwide
Key people	Eric Hansotia (chairman, president, & CEO) Andrew H. Beck (vice-president & CFO)
Products	Tractors, Combines, Hay tools, Foragers, Seeding & Tillage equipment, Self-propelled sprayers, Smart Farming Technology, Diesel engines and generators
Brands	Challenger, Fendt, Gleaner, GSI, Massey Ferguson, RoGator, TerraGator, Sunflower Manufacturing, Valtra, White Farm Equipment, JCA Technologies
Services	Parts, service, finance
Revenue	US$14.41 billion (2023)
Operating income	US$1.308 billion (2022)
Net income	US$1.17 billion (2023)
Total assets	US$8.359 billion (2022)
Total equity	US$3.882 billion (2022)
Number of employees	23,700 (2021)

AGCO Corporation is an American company that makes machines for farms. It is based in Duluth, Georgia, United States. The company started in 1990.

AGCO designs, builds, and sells many types of farm equipment. This includes tractors, machines that harvest crops (called combines), tools for hay, machines that collect animal feed (called foragers), and special sprayers. They also make smart farming technology, equipment for planting seeds, and tools for preparing soil.

History of AGCO

How AGCO Started (1990–1996)

A Hesston 5670 machine that makes round bales of hay, in 2010.

AGCO was created on June 20, 1990. Some leaders from a company called Deutz-Allis bought the North American part of their business. This part used to belong to a German company named Klöckner-Humboldt-Deutz AG (KHD). KHD also owned the Deutz-Fahr brand of farm equipment.

At first, the new company was called Gleaner-Allis Corporation. Then its name changed to Allis-Gleaner Corporation, or AGCO. The tractors that were once called Deutz-Allis became AGCO-Allis. The Gleaner brand became known for its combines.

In 1991, AGCO bought Hesston Corporation. This company made hay and forage equipment. They also had important inventions, like the grain auger, which moves grain. AGCO also bought the White Tractor line. In 1993, they bought the rest of White-New Idea, which made hay equipment and planters.

A Massey Ferguson 6490 tractor, in 2008.

Also in 1993, AGCO gained the right to sell Massey Ferguson products in North America. Massey Ferguson is a well-known farm equipment company around the world. In 1994, AGCO bought McConnell Tractors, which made large Massey Ferguson tractors. AGCO also created its own line of large tractors called Agcostar.

In 1995, AGCO bought AgEquipment Group. This company made tools for preparing soil and loaders. In 1996, AGCO started buying companies in other countries. They bought Iochpe-Maxion in Brazil, which made Massey Ferguson products there. They also bought Deutz Argentina, a top tractor company in Argentina. In the same year, AGCO bought Western Combine Corporation in Canada.

Growing Bigger (1997–2005)

A Fendt 930 Vario tractor, in 2009.

In 1997, AGCO bought Fendt, a German tractor company. Fendt is famous for its advanced technology and high-quality machines. AGCO promised to keep the Fendt name and its factory in Germany. Also in 1997, AGCO bought Dronningborg Industries in Denmark, which made combines for Massey Ferguson in Europe.

In 1998, AGCO partnered with Deutz AG to make engines in Argentina. They also bought Spra-Coupe and Willmar, which made sprayers in North America. These sprayers are used to apply liquids to crops.

In 2001, AGCO bought Ag-Chem Equipment. This expanded their business in application equipment. Ag-Chem made large machines like TerraGator and RoGator, which are used to spread materials on fields. The SpraCoupe and Willmar brands also moved their manufacturing to the Ag-Chem facility.

In 2002, AGCO bought the rights to the Challenger name from Caterpillar. This gave them a famous brand and powerful tracked tractors. AGCO then expanded the Challenger line to include wheeled tractors and combines. They also bought Sunflower Manufacturing Company, which makes tools for tilling, planting, and harvesting.

In 2004, AGCO bought the Valtra tractor company from the Kone Group in Finland. This purchase also included SISU Diesel engines. Since 2012, this engine company has been called AGCO Power.

The Martin Richenhagen Years (2006–2020)

A Valtra T170 tractor, in 2008.

From 2006, AGCO started to combine some of its brands. For example, some machines were sold under both Massey Ferguson and Hesston names. The AgChem brand became part of Challenger. In 2006, Martin Richenhagen became the new chairman of AGCO, taking over from Robert Ratliff.

In 2007, AGCO bought half of Laverda S.p.A., which included the Gallagnani and Fella-Werke hay equipment brands. In 2008 and 2009, AGCO launched new tractors with special technology to reduce pollution.

In 2009, AGCO announced they would stop making orange AGCO tractors by 2011. In 2010, they planned to buy the rest of Laverda, which happened in 2011.

In 2011, AGCO planned to move the assembly of some tractors from France to their plant in Jackson, Minnesota, USA. They also planned to invest $40 million in their Hesston, Kansas plant for a new painting building. Both expansions were finished by 2013.

In October 2011, AGCO bought GSI, a company that makes equipment for storing and handling grain. In 2012, AGCO bought parts of other companies that made sugar cane equipment and combine harvesters in China. They also started a joint company in Algeria.

In 2013, AGCO started Fuse Technologies, a new part of the company focused on smart farming technology. In 2017, AGCO bought Precision Planting, which makes planting equipment and technology. Also in 2017, AGCO bought the forage machinery line from Lely, including balers and mowers.

In September 2020, AGCO bought 151 Research Inc., a company that studies grain storage.

The Eric Hansotia Era (2021–Present)

On January 1, 2021, Eric Hansotia became the new chairman of AGCO. He took over from Martin Richenhagen, who retired after almost 15 years. Hansotia had worked for AGCO since 2013. In 2021, the company dealt with problems in getting parts due to the COVID-19 pandemic.

In January 2022, AGCO bought Appareo Systems, a technology company. In August 2021, Precision Planting bought Headsight, a company that makes solutions for harvesting. In September 2021, AGCO bought Faromatics, a company that uses robots for livestock farming.

In December 2021, Precision Planting bought Creative Sites Media, a software company. Also in December 2021, AGCO bought Appareo Systems, which makes software and electronic parts.

In May 2022, AGCO bought JCA Industries. This company makes software for self-driving farm machines. In September 2023, AGCO bought a large part of a Trimble unit, which is another technology company.

Where AGCO Makes Its Machines

AGCO has many factories around the world where they build their farm equipment.

Current Factories

Former Factories

• Coldwater, Ohio, USA: Made White-New Idea farm equipment until 1999.
• Independence, Missouri, USA: Made Gleaner combines until 2000, then production moved to Hesston, Kansas.
• Willmar, Minnesota, USA: Made Spra-Coupe and Willmar application equipment until 2001.
• Banner Lane, Coventry, UK: Made Massey Ferguson tractors until 2003.
• Grubbenvorst, Netherlands: Made Challenger application equipment for Europe until 2018.
• Maassluis, Netherlands: Made Lely hay equipment until 2018.
• Biatorbagy, Hungary: Made Grain Storage and Handling Equipment until 2020.

Brands You Might Know

AGCO owns many well-known brands that make different kinds of farm machines and technology:

See also

In Spanish: AGCO Corporation para niños

• List of S&P 400 companies