A new name in AGCO family

AGCO, a worldwide manufacturer and distributor of agricultural machinery, announced that it had agreed to acquire Cimbria Holdings Ltd., a leading manufacturer of grain handling, processing and storage equipment. The total amount of the transaction is $340 million.

Cimbria’s extensive products and services support the cleaning, drying, storage and conveyance of grain and seed through the development, manufacture and installation of individual machines, customised systems and complete turnkey plants, as well as project management and process control consulting.

‘The acquisition of Cimbria significantly enhances our market position in the European grain handling and storage industry’, says Martin Richenhagen, AGCO’s Chairman, President and Chief Executive Officer. ‘Cimbria’s products are complementary to our GSI’s offerings and are recognised by its customers for their design, quality and innovation. This combination also provides significant marketing and cost saving synergies and will provide us with a global leadership position in the seed handling industry as well as further strengthen our capabilities to serve large global customers.’

Nikolay Ivanishchev, Director General of AgroCentre, is convinced that the new name in AGCO product line will help to expand the range of grain management equipment significantly and allow the company to offer attractive solution to elevators and grain processing plants.