AGCO CEO Richenhagen says company well positioned to fund growth

By Jennifer Lanning Drey

Portland, Ore., June 4 - AGCO Corp. is well positioned to fund strategic investments and finance various growth projects, Martin Richenhagen, chief executive officer of AGCO, said during a Friday presentation at the Sanford C. Bernstein Strategic Decisions Conference in New York.

The company's zero net debt balance puts AGCO in such a position, he said.

"We are very proud of this achievement after the many acquisitions we did," Richenhagen said.

AGCO's priorities including capitalizing on sales growth opportunities, executing plans for margin improvements and meeting its ambition for long-term earnings growth, Richenhagen said.

"We are optimistic about long-term growth opportunities for our industry and for our business. Our strategies are aimed at helping AGCO grow profitable in this environment," he said.

The CEO later noted that the company would be interested in making an acquisition in North American if it found something that would improve margins.

AGCO is a Duluth, Ga., manufacturer and distributor of agricultural equipment and related replacement parts.

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