AGCO Will Acquire Grain Bin Company GSI

October 3, 2011 08:06 AM
AGCO Will Acquire Grain Bin Company GSI

AGCO Corporation announced its plan to acquire Assumption, Ill.-based GSI Holdings, Inc. The privately held GSI is known for its two divisions: grain storage (grain bins, material handling, conditioning) and protein production (feed/watering systems, climate control, confinement nesting).

Martin Richenhagen, AGCO's chairman, president and CEO, says the acquisition was appealing because GSI has great brands, global reach, and is technology leader in market served. He says the company has a strong record of growth during the past five years and is well-positioned for growth in North America as well as developing markets in Asia, Eastern Europe and South America.
AGCO has entered into the acquisition to buy the company for $940 million. GSI has 2,400 employees and more than 500 independent dealers. Estimated revenue for the company in 2011 is $700 million.
The business deal is expected to close in the fourth quarter of 2011.
For more: AGCO
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Spell Check

10/3/2011 10:49 AM

  I think this great! Not only is an awesome tractor manufacture like AGCO looking and planning for the future, but they are Growing rather than cutting back and/or downsizing! I work part-time/off-farm at an AGCO dealership in Bradford County, PA. This is going to help us and the farmers in our area if we decide to start carrying these bin's and doing installations!


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