AGCO has signed a letter of intent to form a joint venture with Amity Technology, LLC for the development and distribution of air seeding and tillage equipment.
AGCO will acquire a 50% interest in selected air seeding and tillage product lines currently sold under the Amity, Wil-Rich and Wishek brands. The resulting joint venture will be based in Fargo, North Dakota and will develop, manufacture and distribute products sold under its existing brand names as well as selected AGCO brand names in the future. The transaction is expected to close before the end of 2010.
