AGCO buys Brazilian machinery business

AGCO Corporation, the owner of the Massey Ferguson, Fendt and Valtra tractor companies, has purchased the privately owned Industria Agricola Fortaleza Limitada ("SFIL''), a leading Brazilian provider of farm implements. Based in Ibiruba, Brazil, SFIL manufactures and distributes a line of farm implements, including drills, planters, corn headers and front loaders. SFIL's 2007 sales are estimated to be approximately US$35 million.

"AGCO's technology driven tractors and combines have built strong market positions in the South American marketplace due in large part to our superior dealer network,'' commented Martin Richenhagen, Chairman, President and Chief Executive Officer of AGCO. "The SFIL family of products complements our market-leading tractor and combine business and provides another step towards expanding our product offering for our South American dealers and their customers.''

Founded in 1967, SFIL's expertise regarding local soil conditions and local planter requirements has earned their products a reputation for quality and innovation.

AGCO manufactures farm equipment in three Brazilian factories for the South American market. Combines are produced in Santa Rosa and tractors are produced in factories located in Mogi das Cruzes and Canoas. AGCO generates approximately 15% of its sales in South America.

Pottinger achieves record turnover once again

The financial year 2006/2007 again brought a good result for Austrian agricultural machinery manufacturer, Pottinger. The company reported a 16.2% increase in turnover, bringing its total turnover for the year to €199 million.

Pottinger's tillage sector saw above average growth, up 38.7% to €32.8 million. The grassland sector grew by 11.9% to around €141 million, while spare parts sales also saw growth of 12.9% to €16.7 million.

In the grassland market, mowers sales increased 16.1% compared to the previous year, loader wagons 13.2% and windrowers 13.8%.

In the tillage market, the highlights are stubble cultivators and disc harrows with a growth of 48.1% and seed drill technology with 41%.

Ploughs also gained an impressive 39.6% and power harrows 35.8%.

For Pottinger, the home Austrian market accounts for 19% of total turnover, confirming the company's Austrian roots.

Of the 81% export sales Pottinger achieved, the highest growth in turnover is in Poland, Czech Republic/Slovakia, Germany and France.

Project business also saw huge successes in the previous year, especially in China.

Pottinger was able to build on its world leadership in the self-loading wagon segment and the same time extend its pioneering role in the front mower sector.

The many years of experience in tillage and seed drill technology had a very positive effect on the development of this product group.

Joint managing directors and brothers, Klaus and Heinz Pottinger, believe that the international success of this company is due both to the comprehensive range of products on offer to cover all requirements as well as the investments made by the family-owned business in customer care and its business partnerships.

"Together, these factors will contribute to the further growth of our company in the forthcoming business year,'' the managing directors, Heinz and Klaus Pottinger recently predicted.