MICHELIN and AGCO Corporation Sign Cooperation Agreement
Recently, MICHELIN and AGCO signed a long-term cooperation agreement at AGCOs European headquarters in Neuhausen, Switzerland. Michelin, a leading tyre producer, and AGCO, a leading agriculture equipment company, are working together to strengthen relations especially in these three areas: Research and Development, Marketing and Supply Chain.
With this new agreement, AGCO will equip some of its new tractors with MICHELIN tyres in order to continue to meet farmers growing performance criteria. Todays farmers are increasingly more interested in heightened productivity, environmental protection and safety three priorities that are shared by both companies Research and Development teams.
MICHELIN and AGCO have been providing farmers with a number of innovations such as the pairing of the MICHELIN AxioBib tyres with some of AGCOs ultra high-power tractors such as the Challenger 975, the Fendt 900 and the Massey Ferguson LRT. Integrating the MICHELIN Ultraflex Technology, these tyres deliver enhanced soil protection while increasing productivity.
The recently signed strategic agreement reflects confidence in todays changing agricultural markets and a shared commitment to expanding their operations in this sector.
ABOUT MICHELIN
With 177million tyres manufactured in 2008, Michelin is a leading tyre producer. Headquartered in Clermont-Ferrand, France, the Company has 68 production sites worldwide, 117,500 employees and annual revenue of 16.4billion. Every year, Michelin allocates more than 500million to research and development.
ABOUT AGCO
Founded in 1990, AGCO Corporation offers a full product line including tractors, combines, hay tools, sprayers, tillage equipment and implements, and related replacements parts. AGCO products are sold through four core brands Challenger, Fendt, Massey Ferguson and Valtra and are distributed via more than 2,800 independent dealers and distributors in over 140 countries worldwide. The Company is headquartered in Duluth, Georgia and had net sales of $8.4billion in 2008.