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Agco Corp And Russian Machines To Create Joint Venture


Tuesday, 17 Sep 2013 08:55am EDT 

Agco Corp and Russian Machines, part of the Basic Element group announced that the creation of a new joint venture in order to manufacture and distribute agricultural equipment and replacement parts in Russia. AGCO and Russian Machines plan to make a total investment of approximately USD100 million in the joint venture over the next three years. The joint venture is expected to begin operations in early 2014, with AGCO and Russian Machines each having an equal ownership. The manufacturing facility will be located in Golitsyno, near Moscow, with a total area of nearly 12.5 hectares including 27,000 square meters of production facilities. The site will include a product show room, a training center and will feature manufacturing processes. 

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