AGCO Corporation is an agricultural equipment manufacturer. They make a line of tractors, combines, hay tools, sprayers, forage and tillage equipment and compete in the US with John Deere.
Martin Richenhagen, Chairman & CEO of AGCO, shares his thoughts with Jim Cramer on Mad Money on the outlook of his business. Cramer suggests that AGCO needs to spend aggressivley to catch up with John Deere and Richenhagen claims that the company will compete by launching a ‘500 horsepower super advanced, high tech conventional tractor line’. Watch below: