AGCO and TAFE conclude commercial partnership with $260m share buyback
AGCO Corp has agreed with TAFE to resolve all outstanding disputes and matters related to their commercial relationship.
As part of a total investment of approximately €87 million, the €17 million low-emission, sustainable PDC will primarily serve Europe and the Middle East (EME) and be the master depot for supplying parts into North America, South America and Asia Pacific from Europe.
Intended to be operational by the end of 2026, the new development further commits to the existing 30 years that the company has in the Metz metropolitan area and delivers a facility that covers 84,000m² under roof on an approximately 200,000m² site.
Over the past 30 years, the existing Ennery site has expanded to accommodate the growth of brands, Fendt, Massey Ferguson, PTx and Valtra. The new facility will continue to serve all AGCO brands by consolidating five facilities into one operation with enhanced environmental, safety and operational excellence, including 24/7 ecommerce parts ordering for dealers and farmers.
The new development will also focus on sustainability, with solar panels on the entire roof, to produce renewable energy to help power operations, including automated processes, air conditioning and recharging of electric vehicles. Rainwater will also be harvested at the new site by collecting, filtering, storing and reusing rainwater for cleansing areas and sanitary usage, ensuring efficient use and conservation for freshwater resources.
Additionally, the relocation to Amnéville (Les Portes de l’Orne) will contribute to revitalising an area that has been vacant for more than a decade, starting with soil decontamination, followed by recultivation and minimising artificial land coverage.
