AGCO COMPLETE JOINT VENTURE

AGCO and Trimble have announced the completion of their joint venture known as PTx Trimble.

It combines Trimble’s precision agriculture business and AGCO’s JCA Technologies to form a new company that will factory fit and retrofit precision technology.

AGCO has acquired an 85% stake in PTx Trimble, and Trimble will hold a 15% stake. Going forward, the PTx Trimble JV will be consolidated into AGCO’s financial statements.

Eric Hansotia, AGCO’s chairman, president and CEO said, “Farmers worldwide need technologies that support them to be more productive and profitable while minimising the environmental impact of their operations. PTx Trimble will provide farmers greater access to next-generation precision ag tools, no matter what brands of tractors and implements they operate.”

AGCO says the formation of PTx Trimble enhances their technology offering around guidance, autonomy, precision spraying, connected farming, data management and sustainability. 

“Rob Painter, Trimble's president and CEO, added, “By combining our expertise and resources through this JV, we aim to accelerate the pace of innovation. With a focus on open technologies, customers will benefit from tech solutions available to farmers across a broad range of tractor and implement brands.”