AGCO, the third largest farm machinery manufacturer in the world, is giving themselves a leg up in the agriculture sector with their purchase of Assumption, Illinois-based GSI Holdings. Greg Peterson, AGCO's Director of Investor Relations, says there were a lot of reasons for the move.
[audio:rddAGCO1.mp3]A Word From Peterson[/audio]
Peterson adds GSI is a top-notch company.
[audio:rddAGCO2.mp3]A Word From Peterson[/audio]
The buyout will give AGCO a better presence in the grain storage and protein processing markets. Peterson says there are no immediate plans to make employment or business model changes at GSI.