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.
Offering more mechanisation to the African sub-continent, the MF 35 – ‘the people’s tractor’ – should prove a great choice for first-time owners or those keen to develop existing businesses.
Based on the machine sold in the late 1950s and early 60s, the tractor has a 36hp engine, 6 forward and 2 reverse speeds and a rear lift capacity of 1100kg.
Compact size and manoeuvrability make it ideal for the small plots typical in Kenya’s food cultivation, planting, livestock and tea and coffee enterprises.
Richard Markwell, vice president and managing director of AGCO, noted “the model will be a great fit for this emerging market, and introduce a generation of farmers to mechanisation who probably never thought they would drive a new tractor out of a showroom”.
