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AEI Newsmakers: March 2024

March 15, 2024 | Posted in Dealers & Dealerships, Mergers & Acquisitions

A Feb. 28 report from World Construction Network said Kubota had filed a patent for an audio signaling system for automated machines...
CNH Industrial announced March 4 a strategic alliance with Telecom Argentina to bring 4G connectivity and digital services...
John Deere reported that changing a 620 horsepower 9R tractor to a fully electric version would mean adding almost 60 batteries...
Chevron Corp. subsidiary Chevron Renewable Energy Group Inc. will close 2 U.S. biodiesel production plants amid market challenges...
Unverferth Manufacturing is looking to hire 45-55 additional people to support increased demand and diversification...
Kubota is considering making its own batteries for its ag equipment...
Drone, sensors and software solutions provider AgEagle Aerial Systems Inc. announced on March 7 the appointment of retired U.S. Army Major General...
In its March 8 WASDE report update, USDA’s 2023-24 U.S. ending stocks are estimated at 2.172 billion bushels of corn...
VDMA reported German tractor registrations up 2% year-over-year in February (up 1% year-to-date)...
CEMA’s general business climate index decreased to a reading of –55 in the March survey vs. –52 last month...

CEMA Business Climate Index Reports March Downturn

March 14, 2024 | Posted in Data & Trends

Source: CEMA

According to the latest update to the CEMA General Business Climate Index, the agricultural machinery industry in Europe has again deteriorated slightly following the sharp downturn of the previous months.

Kubota Reports Farm & Industrial Sales Up 13% in 2023

February 15, 2024 | Posted in Earnings Reports

Kubota Corp.’s 2023 revenue increased 12.8% to $20.05 billion. Domestic revenue increased 6.8% from the prior year to $4.27 billion because of increased revenue from Farm & Industrial Machinery and Water & Environment segments of the business.

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Linamar Expands Ag Equipment Presence with Bourgault Acquisition

January 15, 2024 | Posted in Mergers & Acquisitions

Linamar Corp. announced Dec. 20 an agreement to acquire Canadian implement manufacturer Bourgault Industries out of St. Brieux, Sask., for C$640 million.

Lemken Integrates Crop Care Business

Crop care technology now under the Lemken brand name and in Lemken blue

September 13, 2023 | Posted in Mergers & Acquisitions

Five years ago, the agricultural machinery specialist Lemken acquired the Dutch company Machinefabriek Steketee B.V., expanding its crop care product portfolio with implements for mechanical weed control and future-oriented camera-assisted machine guidance.

Kuhn Group Revenue Up for First Half of 2023, Order Intake Down

August 15, 2023 | Posted in Earnings Reports

Bucher Industries, which owns Kuhn Group, released its second quarter 2023 earnings report July 27 and reported Kuhn Group’s net sales for the first half of the year totaled $971.4, up 6.6% year over year.

EU Ag Equipment Industry Sentiment Remains in Negative Range

August 8, 2023 | Posted in Data & Trends

In August, the index fell from –7 point to –22 points, one of the sharpest declines in the history of the survey.

Germany Agricultural Society Opens North American Office

June 28, 2023 | Posted in Ag Equipment Worldwide

Located in Saskatoon, Canada, the office will be managed by Brad Michnik who has been appointed sales representative, effective immediately, for DLG’s North American operations, including the United States.

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CNH Industrial Finishes 2022 with $23.6 Billion in Revenue

February 16, 2023 | Posted in Data & Trends, Earnings Reports

According to CNH Industrial’s full year 2022 earnings released on Feb. 2, the company brought in $23.6 billion in revenue in 2022, up 20.8% year-over-year.

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European Ag Equipment Business Climate Improves in February

February 15, 2023 | Posted in Data & Trends

CEMA's general business climate index rose to a reading of 36 in February from a reading of 30 in January.

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AGCO Reports $1.4 Billion in 2023 Tractor Revenue

New Holland Informs Dealers of Restructuring Details

Baltimore Port Closure: Tractor Imports & Exports Impacted, Deliveries Delayed

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Baltimore Port Closure to Impact High Horsepower Tractor Imports & Exports

In this episode of On the Record, brought to you by Weasler Engineering, we look at how the Port of Baltimore's closure will alter the flow of high horsepower tractors in and out of the country. In the Technology Corner, Noah Newman talks about some changes coming to drone operation regulations. Also in this episode, Kazakhstan's potential for the North American ag equipment industry and what 2024 holds for the sprayer market.

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