New leading brand combines precision
technologies of Precision Planting and PTx Trimble
DULUTH,
Ga., April 8, 2024 /PRNewswire/ -- AGCO
Corporation (NYSE: AGCO), a global leader in the design,
manufacture and distribution of agricultural machinery and
precision ag technology, today announced the launch of PTx, a new
brand representing its precision ag portfolio. PTx combines
precision ag technologies from the cornerstones of AGCO's tech
stack: Precision Planting and its newest joint venture (JV), PTx
Trimble.
The strategic alignment of these brands will facilitate the
rapid growth of AGCO's technology transformation and will support
the future development and distribution of next-generation ag
technologies for farmers and original equipment manufacturers
(OEMs).
PTx will serve farmers around the world through three
go-to-market approaches. Specialized precision ag dealers will help
farmers retrofit almost any make or vintage of equipment they
already own with the latest technologies. PTx will also expand its
relationships with more than 100 OEM partners that can integrate
products from the PTx portfolio directly at the factory. Similarly,
new machines from AGCO's leading brands – Fendt, Massey Ferguson and Valtra – will also offer
factory-fit technology from the PTx portfolio.
Seth Crawford, Senior Vice
President and General Manager PTx, will lead the new organization
as an industry-leading, mixed-fleet precision ag platform serving
farmers globally.
"We believe technology should give farmers the flexibility to
work their way across brands and throughout the crop cycle," said
Crawford. "Through the PTx portfolio offerings within Precision
Planting and PTx Trimble, we'll provide seamlessly compatible,
powerfully simple precision ag solutions. We know farming is easier
when platforms speak to each other – and when those systems are
designed and supported by experts who understand farmers. That's
what PTx is promising our customers around the world."
The name PTx is rooted in AGCO's heritage: precision agriculture
(P) and advanced technologies (T) that multiply (x) the impact it
creates for farmers through seamless, intelligent and
farmer-centric technologies.
The symbol represents the precise rows and fields
in agriculture and tells a story of global connection. To
present a unified offering to the market, Precision Planting's
visual identity is evolving as part of the new PTx brand portfolio
while retaining the brand's well-known corn plant as a nod to its
rich heritage. The PTx Trimble visual identity mirrors that of the
PTx leading brand.
AGCO completed the JV transaction with Trimble on April 1, 2024, to form PTx Trimble. Andrew Sunderman has been named General Manager
of PTx Trimble. Sunderman's 12 years of experience in various
global AGCO roles, including most recently leading the JV
integration team, position him well to run this business.
"Farmers rely on precision ag technologies to increase yields,
decrease waste and maximize their resources," said Sunderman. "The
launch of PTx and the start of the PTx Trimble JV enable us to
better serve farmers, offering them retrofit and factory-fit
solutions to achieve their financial and operational goals."
Keith Crow will continue to lead
Precision Planting as General Manager.
PTx joins AGCO's leading global brand portfolio including Fendt,
Massey Ferguson, GSI and Valtra. To
learn more about PTx, visit www.ptxag.com.
About AGCO
AGCO (NYSE: AGCO) is a global leader in the
design, manufacture and distribution of agricultural machinery and
precision ag technology. AGCO delivers value to farmers and OEM
customers through its differentiated brand portfolio including core
brands like Fendt®, GSI®, Massey Ferguson®, PTx and Valtra®. AGCO's
full line of equipment, smart farming solutions and services helps
farmers sustainably feed our world. Founded in 1990 and
headquartered in Duluth, Georgia,
USA, AGCO had net sales of approximately $14.4
billion in 2023. For more information,
visit www.AGCOcorp.com. For company news, information, and
events, please follow us on X: @AGCOCorp. For financial news on X,
please follow the hashtag #AGCOIR.
SOURCE AGCO Corporation