Press release from Business Wire
AGCO Launches Retail Finance Solutions in Central Europe
Monday, September 30, 2013
AGCO Launches Retail Finance Solutions in Central Europe08:00 EDT Monday, September 30, 2013
DULUTH, Ga. (Business Wire) -- AGCO, Your Agriculture Company (NYSE: AGCO), a worldwide manufacturer and distributor of agricultural equipment, is launching a new retail finance program for its customers in Central Europe. “The introduction of a retail finance program through our AGCO Finance brand has been a key objective given the lack of flexible financing solutions in some Central European countries,” explained Eric Raby, Vice President, Global Marketing & Commercial Development. “Customers asked for it, and we are delighted to offer financial solutions that will help them to acquire the right equipment to grow their business.”
AGCO Finance offers comprehensive retail financing to customers buying tractors, combine harvesters and other farm equipment with flexibility to meet the individual needs of professional farmers. Similar retail finance programs exist in Western Europe, the United States, Canada, Australia and Brazil.
The Central European program will initially be available to customers in the Czech Republic and Slovakia in co-operation with AGCO's partners Deutsche Leasing, IKB Leasing and SocGen Equipment Finance; in Romania with IKB Leasing and Deutsche Leasing; and in Bulgaria with Deutsche Leasing and Raiffeisen Leasing. AGCO will work closely with these partners to find the best financial solutions for our customers. Eventually, AGCO plans to offer retail financing programs in additional Central European, Baltic and Balkan countries, allowing further growth of its distribution and market share in these areas.
AGCO, Your Agriculture Company, (NYSE: AGCO), is a global leader focused on the design, manufacture and distribution of agricultural machinery. AGCO supports more productive farming through a full line of tractors, combines, hay tools, sprayers, forage equipment, tillage, implements, grain storage and protein production systems, as well as related replacement parts. AGCO products are sold through five core machinery brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra® and are distributed globally through 3,150 independent dealers and distributors in more than 140 countries worldwide. Founded in 1990, AGCO is headquartered in Duluth, GA, USA. In 2012, AGCO had net sales of $10 billion. www.AGCOcorp.com
Rebecca Fabian, 646-415-8518
Greg Peterson, 770-232-8229