AGCO

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AGCO Corporation
Formerly
Gleaner-Allis Corporation, Allis-Gleaner Corporation
Public
Traded asNYSEAGCO
S&P 400 Component
IndustryManufacturer
PredecessorAllis-Chalmers 1909–1985, Deutz-Allis 1985–1990
Founded1990
HeadquartersDuluth, Georgia
United States
Area served
Worldwide
Key people
ProductsAgricultural equipment
Tractors
Combines
Self-propelled sprayers
Hay tools
Forage equipment
Seeding & Tillage equipment
Diesel engines
List of brands
ServicesParts, Service, Finance
RevenueDecrease US$ 7.41 billion (2016)[1]
Decrease US$ 288.4 million (2016)[1]
Decrease US$ 160.2 million (2016)[1]
Total assetsIncrease US$ 7.17 billion (2016)[1]
Total equityDecrease US$ 2.84 billion (2016)[1]
Number of employees
20,462 [2] (2017)
Websitewww.agcocorp.com

AGCO Corporation is an American agricultural equipment manufacturer. Their headquarters are in Duluth, Georgia, United States.

History[change | change source]

Hesston 5670 round baler, in 2010

AGCO was created in 1990 when executives at Deutz-Allis bought out Deutz-Allis North American operations from the parent corporation KHD (Klöckner-Humboldt-Deutz). KHD was a German company that owned the Deutz-Fahr brand of agriculture equipment. KHD had bought parts of the Allis-Chalmers agricultural equipment business five years earlier.[3]

In March 1991, AGCO bought the Hesston Corporation.[4][5] Because of this, they gained hay and forage equipment as well as technologies such as the grain auger (used to unload grain quickly from combines), invented in 1947 by Lyle Yost.[6] Hesston had a 50 percent joint venture with Case International, now a part of CNH Global. AGCO bought the White Tractor line from the Allied Corporation's White-New Idea company.[7] In 1993, AGCO bought the rest of White-New Idea,[8] gaining New Idea hay equipment and manure spreaders, and White planters. White New Idea had a big manufacturing plant in Coldwater, Ohio, USA.

In 2013, AGCO’s GSI acquired Johnson System, a manufacturer of catwalks and towers.[9]

In 2017, AGCO acquired Precision Planting, LLC, a planting equipment and technology business.[10]

References[change | change source]

  1. 1.0 1.1 1.2 1.3 1.4 "US SEC: Form 10-K AGCO Corporation". United States Securities and Exchange Commission. Retrieved January 18, 2018.
  2. "AGCO". Fortune. Retrieved 2018-12-14.
  3. "History of AGCO". History of AGCO.
  4. "AGCO, Form S-4/A, Registration of Securities, Filing Date Jul 15, 1996". secdatabase.com. Retrieved Jan 1, 2013.
  5. "Lyle Yost, founder of Hesston Corp., passes away at age 99". Progressive Forage. May 4, 2012. Retrieved September 16, 2012.
  6. Voorhis, Dan (April 6, 2012Z). "Lyle Yost, founder of Hesston Industries, dies at age 99". Wichita Eagle. Retrieved September 12, 2012.
  7. "AGCO, Form 424B3, Prospectus, Filing Date Jul 17, 1996". secdatabase.com. Retrieved Jan 1, 2013.
  8. "AGCO, Form S-3, Registration Statement, Filing Date Jan 22, 1997". secdatabase.com. Retrieved Jan 1, 2013.
  9. GSI aims to be ‘local’ supplier across the globe, World-Grain; https://www.world-grain.com/articles/5267-gsi-aims-to-be-local-supplier-across-the-globe
  10. "Precision Planting sold to Agco". farmindustrynews.com. 26 July 2017.

Other websites[change | change source]