AGCO plans to purchase 50% of a harvesting equipment company owned by the Italian ARGO group. The company, called Laverda S.p.A., produces harvesters for Europe in a manufacturing plant located in northern Italy. The plant builds mid-range combine harvesters for the Massey Ferguson, Fendt and Challenger brands, all owned by AGCO.

“This investment reinforces AGCO's market positioning and supports our strategic aim of taking a leading position in the European harvesting business,” reports Martin Richenhagen, president and CEO of AGCO.