AGCO and Hexagon Agree to Expand Distribution of Hexagon’s Ag Guidance Systems

Rhea-AI Summary

AGCO (NYSE: AGCO), a leader in agricultural equipment, announced a new agreement with Hexagon to enhance its guidance systems, marketed as Fuse Guide for Massey Ferguson and Valtra tractors. This system will provide a robust electronic steering solution incorporating NovAtel's SMART7 receiver. Fuse Guide aims to improve precision agriculture adoption, particularly in Brazil by Q2 2023, with further rollout planned in 2024. The collaboration expands on an existing partnership involving Hexagon's global navigation satellite systems. Mark Theuerkauf from AGCO emphasized that this technology could drive higher crop yields and greater operational efficiency for farmers.

Positive

• New agreement with Hexagon to enhance guidance systems.
• Fuse Guide provides a competitive and user-friendly solution for precision agriculture.
• Targeting Brazilian market launch in Q2 2023 with plans for expansion in 2024.

Negative

• None.

DULUTH, Ga. & JUNDIAÍ, Brazil--(BUSINESS WIRE)-- AGCO (NYSE: AGCO), a worldwide manufacturer and distributor of agricultural equipment, infrastructure and precision ag technology, announced today that it has signed an agreement with Hexagon, to expand its factory-fit and aftermarket guidance offering. The new guidance system will be sold as Fuse Guide on Massey Ferguson and Valtra tractors.

The new arrangement expands upon the current agreement between AGCO and Hexagon to distribute Hexagon | NovAtel global navigation satellite system (GNSS) receivers and global TerraStar Correction Services both from factory-fit and through AGCO dealers. Fuse Guide will offer a market-proven, rugged guidance and electronic steering system. Like AGCO’s premium guidance systems, Fuse Guide will also utilize the highly accurate NovAtel SMART7 receiver.

The solution offers customers an option between third-party aftermarket systems and AGCO’s premium integrated guidance systems, MF Guide and Valtra Guide. Fuse Guide is intended to be marketed in Brazil in the second quarter of 2023 with additional markets to follow in 2024.

"Guidance and auto-steering technology is the first step in implementing precision ag for greater input efficiency and higher crop yields. We anticipate that this agreement will help to increase precision agriculture technology adoption in our growth markets by providing an easy to use and price competitive guidance solution for farmers in more regions," said Mark Theuerkauf, Director, Fuse Go-to-Market at AGCO.

About AGCO

AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers customer value through its differentiated brand portfolio including core brands like Fendt®, GSI®, Massey Ferguson®, Precision Planting® and Valtra®. Powered by Fuse® smart farming solutions, AGCO’s full line of equipment and services help farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $12.7 billion in 2022. For more information, visit www.AGCOcorp.com. For company news, information, and events, please follow us on Twitter: @AGCOCorp. For financial news on Twitter, please follow the hashtag #AGCOIR.

About Hexagon

Hexagon is a global leader in digital reality solutions, combining sensor, software and autonomous technologies. We are putting data to work to boost efficiency, productivity, quality and safety across industrial, manufacturing, infrastructure, public sector, and mobility applications.

Our technologies are shaping production and people related ecosystems to become increasingly connected and autonomous – ensuring a scalable, sustainable future.

Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,000 employees in 50 countries and net sales of approximately 5.2bn EUR. Learn more at hexagon.com and follow us @HexagonAB.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230424005769/en/

Julie Ulbrich, AGCO | julie.ulbrich@AGCOCorp.com | +1 770-235-2943

Source: AGCO

FAQ

What is AGCO's recent partnership about?

AGCO recently partnered with Hexagon to expand its factory-fit and aftermarket guidance offerings, introducing the Fuse Guide system for tractors.

When will Fuse Guide be available in Brazil?

Fuse Guide is expected to launch in Brazil in the second quarter of 2023.

What technology does the Fuse Guide system utilize?

The Fuse Guide system uses NovAtel's SMART7 receiver for accurate guidance and electronic steering.

How does the new guidance system impact precision agriculture?

The new guidance system aims to increase the adoption of precision agriculture technologies, improving input efficiency and crop yields.

What brands will offer the Fuse Guide system?

The Fuse Guide system will be available on Massey Ferguson and Valtra tractors.

What are AGCO's key markets for expansion?

AGCO plans to market the Fuse Guide system in Brazil initially, with additional markets to follow in 2024.