The multi-year agreement covers all AGCO equipment lines and is an expansion of a strategic partnership between AGCO and TPS which provides high-performing machine control, machine management and precision farming technology products and services to the global agricultural machinery market.
Tierra is the web portal through which all AGCONNECT(TM) information will flow in a timely, easy-to-learn, easier-to-understand and reliable format. TPS formed its Telematics Business Unit in 2008 and unveiled Topcon Tierra, the most comprehensive mobile asset management system in the marketplace.
Martin Richenhagen, Chairman, President and Chief Executive Officer of AGCO said, “AGCO is dedicated to integrating user-friendly advanced technology into our products to help our customers maximize the productivity of their equipment and become more efficient, more environmentally responsible and, ultimately, more profitable.”
“The expansion of the relationship between AGCO and TPS will greatly benefit both companies, their customers and potential customers,” said Ray O’Connor, TPS President and CEO. “Using products resulting from the AGCO and TPS partnership, farmers will have access to the leading technology.”
Statements which are not historical facts, including expectations regarding market positioning, and sales growth are forward-looking and subject to risks that could cause actual results to differ materially from those suggested by the statements. These risks include possible declines in demand for products as a result of weather, demand and other conditions that impact farm income, actions by producers of competitive products, and the general risks attendant to coordination of efforts among two businesses. Further information concerning these and other risks and uncertainties is included in AGCO’s filings with the Securities and Exchange Commission, including AGCO’s Form 10-K for the year ended December 31, 2008. AGCO disclaims any obligation to update any forward-looking statements.