AGCO, the maker of Massey Ferguson, Fendt and Valtra farm machinery, has suspended or reduced operations at a number of its tractor making plants across Europe due to the coronavirus pandemic.
The US machinery giant said it had suspended manufacturing at a number of its plants in Europe due to material shortages and constraints in the European supply chain. Some plants were still operating, but at a much reduced capacity. AGCO said it expects to see disruptions to its other machinery production sites in places like the US in the coming weeks.
As a result of the mass shutdown in operations, AGCO said it was withdrawing its previous forecast for profits and sales in 2020.
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“We are focused on the safety of our employees, our dealers and the world’s farmers, while doing our part to minimize the impact of this pandemic,” said Martin Richenhagen, CEO of AGCO.
“Demand for grain and protein will continue during this crisis and AGCO will continue to prioritise support of our dealers and farmers to help promote food security.”
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AGCO, the maker of Massey Ferguson, Fendt and Valtra farm machinery, has suspended or reduced operations at a number of its tractor making plants across Europe due to the coronavirus pandemic.
The US machinery giant said it had suspended manufacturing at a number of its plants in Europe due to material shortages and constraints in the European supply chain. Some plants were still operating, but at a much reduced capacity. AGCO said it expects to see disruptions to its other machinery production sites in places like the US in the coming weeks.
As a result of the mass shutdown in operations, AGCO said it was withdrawing its previous forecast for profits and sales in 2020.
“We are focused on the safety of our employees, our dealers and the world’s farmers, while doing our part to minimize the impact of this pandemic,” said Martin Richenhagen, CEO of AGCO.
“Demand for grain and protein will continue during this crisis and AGCO will continue to prioritise support of our dealers and farmers to help promote food security.”
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