Business Wire 19-Apr-2018 3:00 AM
One Millionth Engine Leaves Factory
AGCO (NYSE:AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and solutions, is celebrating the 75th anniversary of AGCO Power this year. AGCO Power is AGCO's global engine brand known for top performance and durability. "AGCO´s engine business, known today as AGCO Power, has delivered industry leading engines and power generation solutions for 75 years," said Martin Richenhagen, Chairman, President and CEO, AGCO Corporation. "We are proud to celebrate this great heritage and to announce that the one millionth AGCO Power engine was produced at our factory in Linnavuori, Nokia, Finland."
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AGCO Power Millionth engine (Photo: Business Wire)
More than 70% of AGCO products run with an AGCO Power engine. AGCO Power has been pioneering the development of emission reduction technologies and was first to launch SCR technology in agricultural machinery back in 2008. Today, its engines meet and exceed the latest emission regulations in the EU and the U.S. complying with the Tier 4 emissions standards. What's more, AGCO Power engines are ready for stage V. Dr. Helmut Endres, Senior Vice President, Engineering, Worldwide said, "Within the EU, new emission regulations will be phased in gradually in 2019 and 2020. AGCO Power started its development for the stage V a number of years ago in order to be ready for the change. High-quality engines have already been tested in cooperation with our customers in the engine laboratory and in different applications."
AGCO Power started manufacturing engines in Linnavuori 75 years ago. Later the factory became an important part of Valtra which was then acquired by AGCO in 2004. Ever since then AGCO has continuously invested in new product development, innovative engine technologies and increasing production capacities. Today, AGCO Power manufactures 3, 4, 6 and 7-cylinder diesel engines in four plants around the world, namely, in Linnavuori (Finland), Changzhou (China), Mogi das Cruzes (Brazil) and General Rodriguez (Argentina). Production volumes have multiplied over the past decades and reached more than 100,000 engines annually.
AGCO Power's innovations have resulted in significant improvements in the combustion process and thus offer customers excellent fuel economy. Juha Tervala, AGCO Power's Vice President and Managing Director, said, "As a pioneer in engine technology, AGCO Power will continue to invest in research and development to design reliable and durable engines for demanding off-road machinery applications. Among others, we are actively exploring renewable fuel alternatives and electric solutions. We are committed to develop the best engines that allow our customers to bring their input costs down."
AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agriculture equipment and solutions and supports more productive farming through its full line of equipment and related services. AGCO products are sold through five core brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra®, supported by Fuse® precision technologies and farm optimization services. Founded in 1990, AGCO is headquartered in Duluth, GA, USA. In 2017, AGCO had net sales of $8.3 billion. For more information, visit http://www.AGCOcorp.com. For company news, information and events, please follow us on Twitter: @AGCOCorp. For financial news on Twitter, please follow the hashtag #AGCOIR.
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