AGCO Names Raven Industries as Strategic Partner
SIOUX FALLS, S.D., Feb. 19, 2015 (GLOBE NEWSWIRE) -- Raven Industries, Inc. (Nasdaq:RAVN) and AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment and infrastructure jointly announce an enhanced supplier relationship. As part of the Fuse® Technologies strategy, AGCO is partnering with best-in-class technology providers like Raven to maximize returns for customers by integrating the best solutions into AGCO machines. Fuse Technologies is AGCO's next-generation approach to precision agriculture and precision machine management deployed through innovative technology and services.
The new agreement between AGCO and Raven builds upon their long-standing relationship by focusing on new product development and tighter integration of technology into machines to provide a better, more connected experience for the grower and ag retailers. The first example will be AGCO's RoGator® and TerraGator application equipment offering the Raven Viper® 4 as standard equipment later this fall. The new terminal features a customizable interface controlling rate, section control, boom height and guidance through a single terminal.
"Raven and AGCO have had a long-standing relationship and a history of working together to bring innovative solutions to customers throughout global markets," said Matt Burkhart, Vice President and General Manager, Raven Applied Technology Division. "AGCO's Fuse Technologies strategy is in line with our strategy of integrating technologies to provide growers and operators access to the best-in-class products that suit their unique operations."
"Through AGCO's Fuse Technologies partnering strategy, we are helping farmers and ag retailers improve their efficiency and machine utilization to meet the increasing demands for food, fiber, and fuel for a growing world population," said Chris Rhodes, Director of Global ATS Commercial and Partnering at AGCO. "Integrating products like Raven's Viper 4 into AGCO's machinery enables growers to leverage best-in-class technology to efficiently and sustainably manage their fields and inputs improving overall operations."
For more information about AGCO's precision farming offering, visit www.AGCOtechnologies.com.
To learn more about Raven and its precision ag portfolio visit www.ravenprecision.com.
About Raven Industries, Inc: Since 1956, Raven Industries has designed and manufactured high quality, high-value technical products. Raven is publicly traded on NASDAQ (RAVN) and has earned an international reputation for innovation, product quality, high performance, and unmatched service. Raven's purpose is to solve great challenges in areas of safety, feeding the world, energy independence, and resource preservation. To realize this purpose, we utilize our strengths in engineering, manufacturing, and technological innovation to serve the precision agriculture, high performance specialty films, aerospace, and situational awareness markets. Visit www.RavenInd.com for more information.
About AGCO: AGCO (NYSE:AGCO) is a global leader in the design, manufacture and distribution of agricultural equipment. AGCO supports more productive farming through a full line of tractors, combines, hay tools, sprayers, forage equipment, grain storage and protein production systems, seeding and tillage implements and replacement parts. AGCO products are sold through five core machinery brands, Challenger®, Fendt®, GSI®, Massey Ferguson® and Valtra® and are distributed globally through approximately 3,070 independent dealers and distributors in more than 140 countries worldwide. AGCO is headquartered in Duluth, Georgia, USA. In 2014, AGCO had net sales of $9.7 billion. For more information, visit http://www.AGCOcorp.com.
Forward-Looking Statements: This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding the expectations, beliefs, intentions or strategies regarding the future. Without limiting the foregoing, the words "anticipates," "believes," "expects," "intends," "may," "plans," and similar expressions are intended to identify forward-looking statements. The company intends that all forward-looking statements be subject to the safe harbor provisions of the Private Securities Litigation Reform Act. Although management believes that the expectations reflected in forward-looking statements are based on reasonable assumptions, there is no assurance these assumptions are correct or that these expectations will be achieved. Assumptions involve important risks and uncertainties that could significantly affect results in the future. These risks and uncertainties include, but are not limited to, those relating to the inability to achieve objectives established for research and development activities, or changes in competition, raw material availability, technology or relationships with the company's largest customers—any of which could adversely affect any of the company's product lines—as well as other risks described in Raven's 10-K under Item 1A.This list is not exhaustive, and the company does not have an obligation to revise any forward-looking statements to reflect events or circumstances after the date these statements are made.
CONTACT: Ryan Molitor Marketing Manager Raven Industries Ryan.Molitor@ravenind.com 605.335.0179