Ag Growth International’s (AGI) results for the first quarter of 2020 ended March 31 showed trade sales in the quarter increased $12.7 million or 6% over first quarter 2019 due to strong farm sales in the U.S. and the recent acquisition of Milltec in India.
Winnipeg, Man.-based Ag Growth International announced that it has agreed to make a minority equity investment of US$15 million in Farmobile Inc. AGI and Farmobile have also entered into a Strategic Commercial Agreement to expand the existing collaboration between the two companies.
Ag Growth International, a manufacturer of grain handling and storage equipment for farms, reported that overall revenues for the first period of the year fell 1% year-over-year. Most of the falloff was the result of an 18% drop in international sales.
In this week’s episode of On the Record we discuss a “youth movement” among Deere & Co.’s senior leadership. In the Technology Corner, Jack Zemlicka discusses broadband barriers to telematic transformation. Also in this episode: grower sentiment falls, but USDA’s Economic Research Service reports net farm income is forecast to increase 8.1% in 2019; Alamo Group’s 2018 hit $1 billion for the first time and Ag Growth International acquires IntelliFarms.
Ag Growth International (AGI) announced that it has acquired Intellifarms, according to reports. Intellifarms provides technology-based products (hardware and software) for monitoring grain conditions in storage for growers and grain processors.
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In this episode of On the Record we take a look at AGCO's recently introduced Transformational Assessment Process (TAP) for its North American production ag dealers. In the Technology Corner, Michaela Paukner examines how CNH Industrial and John Deere's tech stacks compare. Also in this episode, the latest earnings reports from Deere & Co. and Kubota.