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.
AGCO won a massive three out of a possible four Tractor of the Year (TOTY) 2016 titles.
Awarded by a panel of journalists from 23 European countries, the overall TOTY 2016 title was taken by the Fendt 1050 Vario, TOTY 2016 Best Utility by the new MF 5713 Sl, and the winner and Golden Tractor Design 2016 to the Valtra N174V.
Commenting on the trifecta, Martin Richenhagen, chairman, president and chief executive of AGCO Corporation, said winning these awards was testament to the company's multi-brand strategy
"It shows our depth of technology in a range of market sectors, and recognises our significant investment in R&D over the last decade."
The judges noted that the overall winner, the Fendt 1050, is the worlds' "most powerful tractor" with a conventional layout, and its introduction to the market has created a new power segment for the industry. They also praised the new VarioDrive system that provides individual hydraulic drive to the front and rear axles, and likened the driving experience to that of a sophisticated saloon car.
The winner of the Best Utility category, the MF 5713 SDL (130hp) won praise for its compact dimensions and the visibility-enhancing sloping hood, achieved by moving the Tier 4 SCR package to behind the cabin steps.
The third award, awarded for the design of the Valtra N174V, impressed the judges for its "modern, compact and cool look", which follows Valtra's design philosophy of form following function.
