America’s Main Street is starting to feel agriculture’s pain, according to a Sept. 28 quarterly report from the Federal Reserve Bank of Kansas City, which represents the Tenth Federal District.
Fueled in part by its growing North American sales, the Kuhn Group reported that, while its net sales in 2013 grew by 5% vs. the previous year, its profits rose by nearly 25% and profit margins increased by 2.5%.
Harvest machinery specialist Claas not only celebrated its 100th anniversary in 2013, it also posted another record set of financial results. Group sales were up 11% on the prior financial year ended September 30, hitting the equivalent of almost $5.2 billion at current exchange rates.
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The announcement of a partnership between New Holland and Bluewhite was one of the big precision stories of the summer. West Coast New Holland dealers now have the rights to sell, distribute and service Bluewhite’s aftermarket autonomy kits.