AGCO Corporation (AGCO - Free Report) announced a new global strategy to deal with every aspect of precision farming technology. The new technology strategy dubbed Fuse Technologies will help the customers of AGCO to improve productivity and profitability by optimizing their operations.
Precision farming or satellite farming is a farm management system which monitors intra-field variations with the help of new technologies like satellite imagery, information technology and geospatial tools.
The Fuse Technologies portfolio will include AGCO’s existing telematics and data management systems and auto guidance solutions. The technology offers precision agriculture solutions to customers through seamless integration and connectivity across all farm assets.
In addition, Fuse Technologies will encompass AGCO’s core products facilitating integration with technology suppliers. Professional growers will benefit from future developments of these core precision farming technologies. The technology will allow connection with current suppliers and Farm Management Information System (FMIS) software, resulting in lower input costs, less labor and higher yields.
This unique technology will provide global access to farmers through extensive dealer networks. It will also help them to gain proficiency through innovative product training in customer call center.
Duluth, Ga.-based AGCO is a global leader focused on the design, manufacture and distribution of agricultural machinery. AGCO supports more productive farming through a full line of tractors, combines, hay tools, sprayers, forage equipment, tillage, implements, grain storage and protein production systems, as well as related replacement parts.
AGCO, which belongs to the machinery and farming industry along with Kubota Corporation , Lindsay Corp (LNN - Free Report) and Alamo Group, Inc. (ALG - Free Report) , remains committed to its plans of expanding business in international markets.
The company expects elevated agricultural commodity prices in 2013 which will drive farm income. However, soft demand for grain storage and protein production equipment, start-up issues at the Marktoberdorf plant and increased engineering expenses will weigh on the near-term results.
AGCO currently retains a Zacks Rank #3 (Hold).