Topcon Positioning Systems (TPS) and AGCO partner to help farmers become more efficient by using innovative technology
LIVERMORE, Calif. -February 27, 2009- Topcon Positioning Systems (TPS) today announces a strategic partnership between TPS and AGCO Corporation, Your Agriculture Company, (NYSE: AG), a worldwide manufacturer and distributor of agricultural equipment. The partnership will provide high-performing machine control, machine management and precision farming technology products and services to the global agricultural machinery market. Innovative and industry-leading products will reach the market faster by combining AGCO’s equipment, customer base and agricultural industry knowledge with research and development from TPS.
“The AGCO and Topcon partnership is a strategic initiative designed to help AGCO deliver on its vision of providing high-tech solutions for professional farmers feeding the world,” said Martin Richenhagen, Chairman, President and Chief Executive Officer of AGCO. “The strength of AGCO’s brands of agricultural equipment combined with Topcon Positioning Systems’ proven technology products will provide numerous benefits to farmers looking for the latest products to make them more effective, efficient, environmentally responsible and ultimately, more profitable.”
AGCO has a strong leadership position in the global agricultural equipment market and is supported by AGCO’s Advanced Technology Solutions (ATS) which specializes in the areas of machine control, machine management and precision farming for its core global brands – Challenger, Fendt, Massey Ferguson and Valtra.
“The partnership between TPS and AGCO will greatly benefit both companies, their customers and potential customers,” said Ray O’Connor, president and CEO of Topcon Positioning Systems. “Using products resulting from the AGCO and TPS partnership, farmers will have access to the leading technology.”
TPS is the leading global developer and manufacturer of precision positioning equipment and offers the widest selection of precision GPS systems, laser, optical surveying and machine control products.
Today, more than ever, technology has become synonymous with increased productivity and has become a key factor when purchasing farm equipment. AGCO customers rely on technology that turns field data into reliable, useful information. In order to create and maintain a competitive edge, technological product advancements are of paramount importance to continued success, further reinforcing the significance of this partnership.
AGCO, Your Agriculture Company, (NYSE: AG) was founded in 1990 and offers a full product line of tractors, combines, hay tools, sprayers, forage, tillage equipment, implements, and related replacement parts. AGCO agricultural products are sold under the core brands of Challenger®, Fendt®, Massey Ferguson® and Valtra®, and are distributed globally through more than 3,000 independent dealers and distributors, in more than 140 countries worldwide. AGCO provides retail financing through AGCO Finance. AGCO is headquartered in Duluth, Georgia, USA. In 2008, AGCO had net sales of $8.4 billion. Please visit our website at www.AGCOcorp.com.
ABOUT Topcon Positioning Systems
Topcon Positioning Systems (www.topconpositioning.com) a developer and manufacturer of positioning equipment, offers the world’s leading selection of innovative precision Global Positioning System (GPS) Geographic Information System (GIS) laser, agriculture, optical surveying, and machine control products, software and applications. Topcon Corporation is traded on the Tokyo Stock Exchange (7732).