AGCO to acquire Precision Planting from The Climate Corporation

Equipment manufacturer AGCO has made a deal with The Climate Corporation to acquire the Precision Planting LLC equipment business. “Precision Planting is a strong business that plays an essential role in the growth and adoption of innovative precision ag practices that help farmers enhance their productivity,” said Mike Stern, chief executive officer for The Climate […] Read more

(Lely.com)

Robot milker firm Lely to shed forage equipment business

Dutch dairy equipment manufacturer Lely, best known in the Canadian market for its robotic milking systems, plans to focus on that business and sell its forage equipment lines to Agco. The two companies announced Monday they have an agreement in principle for Lely to sell its forage division, including two German manufacturing plants, to U.S.-based […] Read more

(Greg Berg photo)

Deere challenges U.S. federal block on Precision Planting bid

Reuters — Deere and Co. said its proposal to buy Precision Planting, an agricultural equipment and technology company, will increase consumer choice and directly benefit growers, in a response filed on Wednesday to the U.S. Department of Justice’s lawsuit to block the acquisition. Deere announced its planned acquisition of Precision Planting in November 2015, for […] Read more

(AutonomousTractor.com)

Farm tech investment drops off after record year

Reuters — Investor backing for agriculture technology startups cooled in the first half of 2016 after record global investment last year, according to industry data released on Monday. Funding from venture capitalists and others totaled US$1.8 billion through the first six months of the year, down 20 per cent from a year earlier, while the number […] Read more

Que. Caterpillar dealer to shed ag equipment arm

Caterpillar’s dealer for Quebec and the Maritime provinces is set to sell its Quebec farm equipment business to a chain of Agco dealerships. Hewitt Equipment — the authorized Cat dealer for Quebec and western Labrador and, through its Atlantic Tractors and Equipment arm, for the Maritimes — announced recently it will sell its ag division […] Read more


Agco posts lower profit on falling crop prices

Reuters — Agco Corp. posted a lower quarterly profit Tuesday as growers around the globe, faced with falling prices for farm commodities, purchased fewer tractors and harvesters. The company, which makes equipment sold under the Challenger, Fendt, Massey Ferguson and Valtra brand names, reported a third-quarter net profit of $65 million, down from $125.2 million […] Read more