AGCO Corp. announced the opening Wednesday of a factory in Changzhou, China, aimed at producing nearly 1 AGCO CEO Martin Richenhagen and local officials mark the opening of AGCO’s newest factory in Changzhou, China. (Photo: Business Wire)00,000 tractors, engines and other major components annually.
The project makes the fifth factory the Duluth-based farm equipment maker said it now operates in China, where it has invested about $300 million in new and existing facilities. The company said the plants employ more than 1,500.
“China is one of the world’s largest farm equipment markets and AGCO has attached great importance to the market,” said AGCO CEO Martin Richenhagen at a press conference announcing the opening of the new factory. “The opening of the new Changzhou location will further enhance our R&D and manufacturing capacity in China, and is a critical step in the implementation of our development strategy for the Asia Pacific region.”
AGCO said the 2.2 million square-foot plant will have annual production capacity for 20,000 tractors, 30,000 engines and 40,000 rear axles and transmissions, for both the Chinese and export markets.