AGCO in 2016 invested US$ 300 million in research and development

AGCO Corporation in 2016 invested about US$300 million in research and development.

This is reported by Traktorist.ua.

In particular, the company made strategic investments in the development of new products and further improvement of existing ones, and in the advancement of solutions for platforms and Fuse technology.

The acquisition of new companies also reveals new opportunities for the development of the Corporation. This year, AGCO acquired the manufacturer of agricultural machinery Lely and PrecisionPlanting, thereby expanding the range and offering its customers new solutions.

"Agricultural machinery faces bigger challenges in the future. I am convinced that what will happen in the next 15-20 years in agriculture, will be much more significant than the changes that have occurred over the past 100 years. We will have a completely new kind of agriculture," said Peter-Josef Paffen, Vice President Managing Director Fendt.

AGCO actively develops modern production. For example, in some factories Glass augmented reality eyewear is used to control the products assembling.