Press release from Business Wire
AGCO Expands Material Handling Capabilities with Acquisition of Intersystems
Friday, May 23, 2014
AGCO Expands Material Handling Capabilities with Acquisition of Intersystems08:00 EDT Friday, May 23, 2014
DULUTH, Ga. (Business Wire) -- AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, announced today that it has agreed to acquire Intersystems Holdings Inc. and subsidiary (“Intersystems”), subject to certain regulatory approvals. Headquartered in Omaha, Nebraska, Intersystems is a leading manufacturer of commercial material handling solutions sold to grain operations globally.
“Intersystems products are recognized for their performance, quality and efficiency by its customers, including feed mills, inland grain terminals and sea port facilities. The company is an excellent fit with GSI and will allow us to expand our grain handling and storage business in the fast growing off-farm segment,” stated Martin Richenhagen, AGCO's Chairman, President and Chief Executive Officer.
Safe Harbor Statement
Statements which are not historical facts, including expectations regarding this transaction are forward-looking and subject to risks that could cause actual results to differ materially from those suggested by the statements. These risks include possible declines in demand for products as a result of weather, demand and other conditions that impact farm income, actions by producers of competitive products, and the general risks attendant to acquisitions. Further information concerning these and other factors is included in AGCO's filings with the Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2013. AGCO disclaims any obligation to update any forward-looking statements except as required by law.
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®, Massey Ferguson®, Valtra® and GSI®, and are distributed globally through 3,100 independent dealers and distributors in more than 140 countries worldwide. Retail financing is available through AGCO Finance for qualified purchasers. Founded in 1990, AGCO is headquartered in Duluth, Georgia, USA. In 2013, AGCO had net sales of $10.8 billion. For more information, see http://www.agcocorp.com
Stockheim Media Inc.
Rebecca Fabian, 646-415-8518
Greg Peterson, 770-232-8229
Director, Investor Relations