AGCO forms Russia joint venture |


AGCO forms Russia joint venture |

Agricultural machinery giant AGCO announced this week a joint venture with Russian Machines to build and distribute parts and equipment in Russia.

Duluth-based AGCO and Russian Machines announced the $100 million joint investment Wednesday, saying the companies will build a manufacturing plant near Moscow that will include a show room, training center and eventually a model farm to demonstrate advanced agricultural techniques.

“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.”

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