AGCO Forms Russia Joint Venture

AGCO, Duluth, GA, and Russian Machines announced the $100 million joint investment, saying the companies will build a manufacturing plant near Moscow that will include a show room, training center and eventually a model farm.

“This joint venture is a very significant step in AGCO’s growth strategy for the Russian market,” Martin Richenhagen, AGCO chairman, president and CEO, said in a news release. “The agricultural sector in Russia has significant potential but needs modernization and efficiency gains.”