AGCO, Your Agriculture Company (AGCO: Quote), a manufacturer and distributor of agricultural equipment, said Friday that it has agreed to establish a new joint venture in Algeria for the production of Massey Ferguson branded tractors.
AGCO will take 49 percent ownership of Algeria Tractors Company, as per the shareholders agreement entered into with L'Enteprise Publique Economique de Commercialisation de Materiels Agricoles and L'Enteprise Publique Economique de Production de Tracteurs Agricoles.
This new venture is based in Constantine, Algeria and will produce Massey Ferguson tractors for sale into the local domestic Algerian market. Production is expected to begin before the end of 2012.
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by RTT Staff Writer
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