AGCO Corporation on Monday announced the launch of its new precision ag brand, PTx.
PTx includes AGCO's Precision Planting business. It also includes the $2 billion joint venture finalized last week by Trimble and AGCO. PTx Trimble, the company announced on Monday, combines Trimble's ag portfolio with AGCO's JCA Technologies. JCA, Winnipeg, Manitoba, Canada, was purchased by AGCO in 2022. JCA specializes in the design of electronic systems and software development to automate and control agricultural equipment.
"I've been in the industry my whole life at this intersection of agriculture and innovation. It's the most exciting time in my career," AGCO CEO Eric Hansotia told DTN/Progressive Farmer. "There's so much excitement in the organization with my whole leadership team ... about what this can mean for farmers. It's the biggest ag tech deal in history. And we want to make the most of it and to do that quickly."
See DTN/Progressive Farmer's full interview with Hansotia below.
AGCO has acquired an 85% stake in PTx Trimble, and Trimble will hold a 15% stake. Going forward, the PTx Trimble joint venture will be consolidated into AGCO's financial statements.
Seth Crawford, AGCO senior vice president and general manager of PTx, will lead the new organization. Andrew Sunderman, a 12-year veteran of AGCO, has been named general manager of PTx Trimble. Keith Crow will continue to lead Precision Planting as general manager.
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Categories: Iowa, Business, Equipment & Machinery