AGCOs 2013 Outlook
AGCO Corp recently said they expect to develop 11 new tractors in 2013, as well as upgrade ten models. The company also plans to develop three new combines in 2013, upgrade six models, said Martin Richenhagen, CEO. Richenhagen also says that the company’s capital expenditures will peak around $425 million in 2014.
The company expects North American tractor market to be flat in 2013 and expects the South American tractor market to grow 5% to 10% in 2013 and the Western European tractor market to be flat, to down 5% in 2013.
Richenhagen said that the company expects pricing to increase 2.5% to 3% in 2013. He also said that a dividend decision is likely to come at their January board meeting.