AGCO to form joint venture with Russian company

DULUTH, Ga. - Farm equipment maker AGCO Corp. and Concern Tractor Plants, a Russian industrial machinery builder, on Thursday said they will create a joint venture to assemble diesel engines in Russia. AGCO said it plans to invest $9 million in the joint venture over the next three years. Both companies will have a 50 percent stake. The joint venture will assemble and distribute AGCO SISU Power engines throughout Russia and the Commonwealth of Independent States, or CIS. The joint venture will supply Concern Tractor's plants making industrial and... [read full story]