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Aike and Climate sign a decisive agreement to acquire precision seeding equipment business
[ China Agricultural Machinery Industry News ] Duluth, Georgia, San Francisco, California - Global agricultural machinery equipment design, production, distribution, Aike Group (NYSE: AGCO) and Monsanto subsidiary Climate Company (NYSE: MON) announced on July 26, 2017 that it has signed a decisive agreement on the acquisition of planting equipment business by AGCO.
“Precision sowing is one of the basic businesses in agriculture. It is related to the development and widespread promotion of agricultural innovation and helping farmers to improve agricultural productivity. As the world's leading equipment manufacturer, Aike has unique advantages and can achieve a wider seeding technology. Spread and continue to develop innovative products to increase productivity and productivity for farmers around the world,†said Climate Company executive Mike Stern.
“The acquisition of seeding technology will strengthen Aike's position as a global leader in seeding technology and our position as a full-service solution partner for global professional farmers,†said Martin Richenhagen, Chairman, President and CEO of Aike.
Climate's electronic farming platform, ClimateFieldViewTM, will continue to maintain its smart interconnect capabilities with its precision seeding monitoring product, SeedSense (20/20).
The specific terms of the agreement have not been made public, and the cooperation between the two parties will await the approval of the relevant regulatory authorities.