AGCO Corporation recently purchased a Brazilian manufacturer called Industria Agricola Fortaleza Limitada (SFIL). SFIL produces farm implements, including drills, planters, corn headers and front loaders. Its sales for this year are estimated at $35 million.
AGCO already holds a strong presence in the South American farm equipment market with three factories located in Brazil. Equipment sales in South America account for 15% of AGCO's total sales.