OREANDA-NEWS. September 21, 2016. AGCO Corporation (NYSE: AGCO), a world-leading manufacturer and
distributor of agricultural equipment, announced today that Martin
Richenhagen, Chairman, President and CEO of AGCO, has been reappointed
to the President’s Advisory Council on Doing Business in Africa
(PAC-DBIA). U.S. Department of Commerce Secretary
Penny
Pritzker announced earlier today the 23 business executives appointed to
the Council. All appointed members have been invited to participate in
the U.S.-Africa Business Forum held in New York on September 21.
Secretary
Penny Pritzker: “I am pleased to reappoint Mr. Richenhagen to
the President’s Advisory Council on Doing Business in Africa. His
experience and counsel help us to strengthen commercial engagement
between the United States and Africa.” This is the second time that Mr.
Richenhagen has been selected to serve on the Council for a two-year
term. “I’m very proud to support the President’s Advisory Council on
Doing Business in Africa,” said Mr. Richenhagen. “AGCO has been doing
business in Africa for many decades. We focus on mechanization, grain
storage, protein production and financing solutions. In addition, we are
also providing local farmers with education and training in core
agricultural practices. Africa will play a significant role in the
future of global food security and therefore it is vital to move African
agriculture forward. We have taken on the challenge to transform African
agriculture into a highly productive, efficient, competitive and
sustainable system.”
AGCO offers high-tech agricultural solutions for professional farmers
feeding the world. Its comprehensive product line, global reach
and technological solutions help farmers to be more productive and
efficient. In Africa, AGCO has invested in manufacturing capabilities in
Algeria and in improving distribution and parts support in South Africa.
In Zambia, AGCO has launched its first Future Farm to train local
farmers and dealers in modern farm practices. AGCO also hosts the annual
AGCO Africa Summit (http://www.agco-africa-summit.com)
to promote international investments in African agriculture.
Mr. Richenhagen joined AGCO 12 years ago as President and CEO, and in
August 2006 he was appointed to Chairman of the Board. Mr. Richenhagen’s
career has spanned a wide range of executive and managing directorships
positions. In addition to currently serving as the Chairman of the
German American Chambers of Commerce of the U.S. (GACCs), Mr.
Richenhagen is also a member of the U.S. Chamber of Commerce Board of
Directors. He has served as Chairman of the Board of the Association of
Equipment Manufacturers (AEM) and is a Life Honorary Director of AEM.
About AGCO
AGCO Corporation (NYSE: AGCO) is a global leader in the design,
manufacture and distribution of agricultural 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, and are distributed
globally through a combination of approximately 3,000 independent
dealers and distributors in more than 140 countries. Founded in
1990, AGCO is headquartered in Duluth, GA, USA. In 2015, AGCO had net
sales of \\$7.5 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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