Group22_AGCOBrazil

Group22_AGCOBrazil - state of Goias. Manufacturers have...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Farm Machinery Co AGCO Ramps Up Investment In Brazil: Report 275 words 28 October 2010 10:54 Dow Jones International News DJI English SAO PAULO (Dow Jones)--Agricultural machinery manufacturer AGCO Corp. (AGCO) plans to invest 25 million Brazilian reals ($14.6 million) to increase its production of harvesters in Brazil, local newspaper Valor Economico reported Thursday. With the investment, AGCO aims to boost its production capacity and modernize technology at its factory in Santa Rosa in the southern state of Rio Grande do Sul, the newspaper reported. AGCO, which produces machinery under the brands of Massey Ferguson, Valtra and Challenger, is the third-largest producer of harvesters in Brazil, behind U.S. agricultural machinery manufacturers CNH Global NV (CNH, NHL.XE) and Deere this month also announced an investment, of BRL60 million to expand its production at a plant in Brazil's
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: state of Goias. Manufacturers have witnessed a brisk recovery in farm machinery sales after the financial crisis as farmers in Brazil's gigantic agricultural sector purchase new tractors and harvesters. Brazil is the world's No. 1 producer of coffee, sugar and orange juice as well as the world's second-largest grain producer. Brazilian agricultural machinery sales have been buoyed by government incentives for low-cost credit and strong agricultural commodity prices. The investment is part of AGCO's worldwide investment this year of $250 million to modernize and expand plants in emerging markets such as Brazil, China and Russia, as well as in the U.S. and Europe, the newspaper said.-By Tony Danby, Dow Jones Newswires; 55-11-3544-7074; Anthony.Danby@dowjones.com [ 28-10-10 1454GMT ] Document DJI0000020101028e6as001r3 2010 Factiva, Inc. All rights reserved. Factiva http://global.factiva.com/hp/printsavews.aspx?ppstype=Article. .. 1 of 1 10/29/10 3:35 PM...
View Full Document

Ask a homework question - tutors are online