Article

Agco focusses on precision agriculture

Published: 04/11/2024

Ferguson, and Valtra, is selling its grain storage and processing division, Grain and Protein, for US$700 million (equivalent to €648 million) to investment firm American Industrial Partners. The deal involves five brands: GSI, Automated Production, Cumberland, Cimbria, and Tecno. Under these brand names, Agco manufactures grain silos, dryers, and conveyors. However, Agco will retain the Chinese operations of Grain and Protein.

According to Agco, divesting this division allows the manufacturer to focus on the production and development of agricultural machinery and precision agriculture technologies. Agco plans to use the proceeds from the sale for predetermined priorities, including paying off debts, investing in technology, business growth, and paying shareholders. – Future Farming

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