AGCO Corp. announced the opening Wednesday of a factory in Changzhou, China, aimed at producing nearly 100,000 tractors, engines and other major components annually. The project makes the fifth factory the Duluth-based farm equipment maker said it now operates in China, where it has invested about $300 million in new and existing facilities. The company said the plants employ more than 1,500. “China is one of the world’s largest farm equipment markets and AGCO has attached great importance to the market,” said AGCO CEO Martin Richenhagen at a press conference announcing the opening of the new factory. “The opening of the new Changzhou location will further enhance our R&D and manufacturing capacity in China, and is a critical step in the implementation of our development strategy for the Asia Pacific region.” AGCO said the 2.2 million square-foot plant will have annual production capacity for 20,000 tractors, 30,000 engines and 40,000 rear axles and transmissions, for both the Chinese and export markets. Support real journalism. Support local journalism. Subscribe to The Atlanta Journal-Constitution today. See offers. Your subscription to the Atlanta Journal-Constitution funds in-depth reporting and investigations that keep you informed. Thank you for supporting real journalism.
Despite factory deflation and an economic downturn, Changzhou agricultural equipment manufacturer, AGCO Corp, has opened a new factory in US, China, aimed at producing nearly 100,000 tractors, engines and other major components. This takes it up to five factories that the company has opened in China, where it has invested circa. $300m in new and existing facilities. "This is a critical step in the implementation of our development strategy for the Asia Pacific region", said its CEO, Martin Richenhagen.