AGCO reaffirms further commitment to Challenger farm machinery brand in Africa
AGCO (www.AGCOcorp.com), Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment and solutions, is to further develop its Challenger farm machinery business in Africa as part of the Company’s global strategy for this leading brand.
Challenger’s product offering includes high-performance tracked tractors and sprayers built by AGCO in North America for the African market. AGCO's Challenger Manufacturing Plant in Jackson, Minnesota has been the subject of multi-million dollar investments over the last five years including a 75,000 sq.ft (6967 m2) expansion to the tractor assembly line and the opening of a new visitors’ centre. In 2013, a US$42 million upgrade and expansion was announced for engineering and manufacturing facilities to improve quality and increase production capacity. This upgrade included new component manufacturing facilities, new robotic welders, end-of-line quality testing, and new engineering and collaboration capabilities using virtual reality modeling in 3-D.
Challenger is a core brand for AGCO in Africa. The Company has plans to expand its product portfolio and utilise its established brand equity and Dealer network strength to propel further growth in the Africa region.
In Europe and Middle East (EME), where Challenger product has more of a niche market position, AGCO has proposed to integrate Challenger into the organisation of its Fendt operation from January 2018. The proposed organisational change in EME is subject to formal consultation processes. As an evolution of AGCO’s Commercial and Market strategy, the proposed changes would be an important step in the Company’s approach to best serve its customers and Dealers across the widest range of farm enterprises and machinery applications.
The proposed changes in EME do not affect the Challenger business in Africa, Asia Pacific, North and South America where the brand is an important part of AGCO’s long-term go-to-market strategy and will continue to be one of AGCO’s core brands going forward.
Distributed by APO on behalf of AGCO Corporation.Contacts: Louisa Parker Manager, External Affairs Zambia Mobile: +260 971398169 UK Mobile +44(0) 7789746268 Email: Louisa.Parker@AGCOcorp.com
Paul Lay Manager, Marketing Communications Public Relations Tel: +44 (0) 2476 851209 Mobile: +44 (0) 7920 805993 Email: Paul.Lay@AGCOcorp.com
About AGCO: AGCO (NYSE: AGCO) (www.AGCOcorp.com) is a global leader in the design, manufacture and distribution of agricultural solutions and supports more productive farming through its full line of equipment and related services. AGCO products are sold through five core brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®, supported by Fuse® precision technologies and farm optimization services, and are distributed globally through a combination of approximately 3,000 independent dealers and distributors in more than 140 countries. Founded in 1990, AGCO is headquartered in Duluth, GA, USA. In 2016, AGCO had net sales of $7.4 billion. For more information, visit www.AGCOcorp.com. For company news, information and events, please follow us on Twitter: @AGCOCorp. For financial news on Twitter, please follow the hashtag #AGCOIR.
