AGCO Announced Memorandum of Understanding with American Farm Bureau Federation for Right to Repair
Portfolio Pulse from Charles Gross
AGCO Corporation has signed a memorandum of understanding (MOU) with the American Farm Bureau Federation (AFBF) regarding farmers' and ranchers' right to repair their own farm equipment. This follows similar agreements AFBF entered into with John Deere, CNH Industrial Brands, and Kubota this year, covering around 70% of the agricultural machinery sold in the US.
May 22, 2023 | 9:40 am
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AGCO Corporation signed an MOU with the American Farm Bureau Federation, supporting farmers' right to repair their own farm equipment, following similar agreements with other major agricultural machinery manufacturers.
The MOU is a positive step for AGCO, as it aligns the company with the right to repair movement and other major agricultural machinery manufacturers. However, the short-term impact on the stock price is likely to be neutral, as the MOU is not expected to significantly affect AGCO's revenues or market position.
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