Golden Fendt tractor shines at US Capitol
ACGO showcased a one-of-a-kind golden Fendt tractor at the US Capitol in early August, commemorating the Great American Farmers Market, a week-long celebration of food, family and farming.
The drawn out separation of global giant AGCO and its Indian partner TAFE seems to be ending.
Seemingly having been dragging on for an extended time, both parties have agreed, subject to local laws, to bring any dispute to a close.
Two major points that have been agreed is the ownership of the Massey Ferguson brand will rest with TAFE on an exclusive basis in India, Nepal, and Bhutan.
During deliberations, TAFE insisted because it had represented and developed the MF brand within India since the 1950s, it was entitled to consider the famous red livery the property of the company, so went to court to establish and protect this right in law.
AGCO countered this assumption and strongly disputed what it considered to be an attempted theft of a major trademark.
The outcome is extremely surprising that the corporation has handed over a world-famous brand with the agreement, although industry sources suggest that AGCO attempting to use the MF brand itself in the three countries concerned, was likely to be commercially impractical.
Both companies have also agreed to untangle themselves from the mutual shareholdings they both hold. Over the years it appears that AGCO had become concerned by TAFE's level of ownership within their corporation.
Following the settlement, TAFE will no longer carry any influence in the AGCO boardroom, while TAFE has agreed to allow AGCO to buy its shares back from the India company, while retaining the right to hold up to 16.3% of AGCO's stock. At the same time, AGCO will sell its shares in TAFE back to the Indian company for $260 million.
A further condition at the heart of the agreement will mean that TAFE will not be entitled to a seat on the AGCO board and its shares will vote in accordance with the recommendation of the board. These points reduce any influence that TAFE may have on the running of AGCO.
For AGCO, it achieves a complete independence from TAFE, while TAFE takes formal ownership of the MF brand in India, something it has coveted for many years, while also putting pay to industry rumours that TAFE was attempting to buy the whole of Massey Ferguson from AGCO.
Foreign Affairs Minister Winston Peters has joined the debate around the proposed sale of Fonterra’s consumer and related businesses, demanding answers from the co-operative around its milk supply deal with the buyer, Lactalis.
The ACT Party says media reports that global dairy giant Nestle has withdrawn from the Dairy Methane Action Alliance shows why New Zealand needs to rethink its approach to climate.
If there was a silver lining in the tragedy that was Cyclone Gabrielle, for New Zealand Young Grower of the Year, Grace Fulford, it was the tremendous sense of community and seeing first-hand what good leadership looks like.
New research could help farmers prepare for a future where summer rainfall is increasingly unpredictable and where drought risk is rising, no matter what.
The first calves of a new crossbred dairy-beef offering are now on the ground at a Pamu (Landcorp) farm near Taupo.
Spinach is NZ's favourite leafy green, according to the Department of Statistics.
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