AGCO and TAFE conclude commercial partnership with $260m share buyback
AGCO Corp has agreed with TAFE to resolve all outstanding disputes and matters related to their commercial relationship.
And it has produced its one-millionth AGCO Power engine at the factory in Linnavuori, Nokia, Finland.
AGCO Power started making engines in Linnavuori 75 years ago, later becoming an important part of Valtra, which was bought by AGCO in 2004.
AGCO has since developed new products and innovative engine technologies and has increased production capacities at the plant.
Today it makes 3, 4, 6 and 7-cylinder diesel engines at Linnavuori and in Changzhou (China), Mogi das Cruzes (Brazil) and General Rodriguez (Argentina). It now makes at least 100,000 engines annually.
At least 70% of AGCO machines use AGCO Power engines -- in Massey Ferguson, Valtra and Fendt machines delivered to the Australian and New Zealand markets.
The company is noted for its pioneering development of emission reduction technologies; it was the first to launch SCR technology in agricultural machinery in 2008. Now its engines meet and exceed the latest emission regulations in the EU and the US, complying with the Tier 4 emissions standards.
AGCO Power engines are also ready for the stage V emission regulations to be phased in gradually in 2019 and 2020, whose development started several years ago.
AGCO Power’s innovations have improved the combustion process, offering customers excellent fuel economy; they continue to evolve and the company is exploring renewable fuels and electric power.
