AGCO Corporation receives EIB loan for R&D

For research and development (R&D) in the sector of agricultural tractors and engines, AGCO is receiving a loan from the European Investment Bank (EIB). The EU bank is providing AGCO, a global leader focused on the design, manufacture, and distribution of agricultural machinery with EUR 200 million for the development of machinery with reduced levels of exhaust emissions and lower noise levels. The programme will be carried out at AGCO’s European R&D centres in Marktoberdorf (Germany), Beauvais (France) and two locations in Finland.

Agricultural vehicles have to comply with new legislation stipulating increased safety and improved noise protection for operators as well as the reduction of exhaust emissions. AGCO is developing technical solutions for these requirements and numerous future safety-related items that will be linked to vehicle registration. The company will conduct the required R&D activities at its European research facilities in the period 2015-2018.

EIB Vice-President Wilhelm Molterer underlined the pre-eminent role of innovation in increasing productivity in the agricultural sector. “With its research activities, AGCO contributes to the development of innovative and technologically advanced machinery. This will benefit agricultural enterprises which will be able to increase their efficiency, productivity and profitability. Innovative agricultural machinery also has a positive impact on the environment because it helps reduce fuel consumption and the emission of pollutants. Finally, the project will strengthen Europe’s position as a technology supplier and thus contribute to the competitiveness of European industry.”

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