AGCO, Your Agriculture Company (NYSE:AGCO) (http://www.AGCOcorp.com), a worldwide manufacturer and distributor of agricultural equipment, reports that a new Joint Venture company formed between South Africa’s Barloworld and Germany’s BayWa has been appointed as its national distributor for Zambia. The Joint Venture between Barloworld and BayWa will be responsible for sales and support for AGCO’s Challenger and Massey Ferguson brands of farm machinery.
Barloworld Agriculture is AGCO’s largest distributor in Africa and BayWa AG its largest distributor worldwide. They will each hold a 50% stake in the new venture. The Joint Venture combines the expertise and dedicated resources of Barloworld and BayWa in support of AGCOs Sustainable and Inclusive Mechanization Strategy in Africa.
“We are delighted that these two leaders in agricultural equipment distribution have joined forces to support us in serving the Zambian market where we are making major investments in infrastructure and people, and creating key partnerships to help drive agricultural development forward across the full spectrum of farming.” says Nuradin Osman, AGCO Director of Operations for Africa and the Middle East.
Barloworld Agriculture was established in 2002 and is AGCO’s distributor for South Africa. It is part of Barloworld Handling, a division of global industrial brand distributor Barloworld Limited.
BayWa is a group with worldwide operations in the core competencies of trading, logistics and supplementary services in its core segments of Agriculture, Energy, and Building Materials. BayWa Group is also one of the largest agricultural traders worldwide. The head office of the parent company, which was founded in 1923, is located in Munich. The international activities focus on Europe as well as on the US and New Zealand.
Smart Farming & Internationalisation Agri-Services develops solutions for process-driven farming and is also expanding international agricultural sales and equipment business.
“Barloworld Agriculture’s existing AGCO distribution network combined with our strong African know-how provides the Joint Venture with a strong operational platform,” says John Blackbeard, Chief Executive Officer of Barloworld Handling, Inc. “Together with BayWa, we look forward to providing region-specific resources and solutions to the agriculture value chain in Africa.”
Commenting Roland Schuler, member of BayWa’s Board of Management responsible for BayWa Agri Services business unit, said: “In markets like Zambia where agricultural operations are so varied, the use of modern technology that is geared towards the needs of the market is instrumental in improving productivity. This is exactly where BayWa and Barloworld can contribute their experience from successful mechanisation projects on farm operations of all sizes.”
As part of AGCO’s significant investment in Zambia, the company has established a 150ha Future Farm near Lusaka to develop leading-edge agriculture for Africa. Among its major activities, the AGCO Future Farm provides education and training on integrated agricultural solutions, offers hands-on experience with new technology appropriate to local markets and seeks to establish new agricultural standards for crop establishment, nutrition and protection.
CONTACT: Louisa Parker Manager External Affairs — Africa and Middle East Tel: +44(0)7789746268 Zambia Tel :+260 (0)971398169 Email: [email protected]
About AGCO AGCO (NYSE: AGCO) (http://www.AGCOcorp.com) is a global leader in the design, manufacture and distribution of agricultural equipment. AGCO supports more productive farming through a full line of tractors, combines, hay tools, sprayers, forage equipment, grain storage and protein production systems, seeding and tillage implements and replacement parts. AGCO products are sold through five core equipment brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra® and are distributed globally through a combination of approximately 3,100 independent dealers and distributors in more than 140 countries. Founded in 1990, AGCO is headquartered in Duluth, GA, USA. In 2014, AGCO had net sales of $9.7 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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