AMITY AND WIL-RICH TO PARTNER WITH AGCO TO GROW AIR SEEDING AND TILLAGE BUSINESS
Amity Technology & Wil-Rich, Fargo
North Dakota, Thu, Nov 11, 2010
FARGO, N.D. - Amity Technology, LLC and Wil-Rich, LLC today announced they have agreed to merge and have signed a letter of intent with AGCO (NYSE: AGCO) to form a joint venture for the development and distribution of air seeding and tillage equipment. AGCO, based in Duluth, Georgia, is a leading provider of agricultural equipment worldwide.
As part of the transaction, AGCO will acquire a 50% interest in selected air seeding and tillage product lines currently sold under the Amity, Wil-Rich and Wishek brand names. The resulting joint venture will be based in Fargo, North Dakota, and will develop, manufacture and distribute products sold under its existing brand names as well as selected AGCO brand names in the future. The transaction is expected to close before the end of 2010.
"We’re excited about the opportunity to expand our product offering and geographic footprint through this partnership with AGCO," stated Howard Dahl, Amity’s President and Chief Executive Officer. "AGCO is an aggressive leader in supplying agricultural equipment throughout the world.
"We see tremendous opportunities to continue to innovate with our products, and to expand our reach through AGCO’s worldwide distribution network. And we’re excited for the opportunity this presents for employees at our facilities in Wahpeton, Wishek, and Fargo," Dahl said.
Amity Technology, LLC was founded in 1996 and offers a full line of air seeding, sugar beet harvesting, and soil sampling equipment. Amity is based in Fargo, N.D., and markets its products worldwide, with special emphasis on North America and the former Soviet Union. Amity was formed out of Concord, Inc. when Concord, Inc. was sold to Case Corporation in 1996. Please visit Amity’s website at http://www.amitytech.com.
Wil-Rich, LLC was founded in 2001 and offers a complete line of tillage equipment. In 2006, Wil-Rich acquired Wishek Manufacturing in Wishek, N.D. Wil-Rich and Wishek have worked with Amity to distribute equipment in the former Soviet Union. Wil-Rich is headquartered in Wahpeton, N.D. Please visit Wil-Rich’s website at http://www.wil-rich.com.
NOTE: Amity Technology and AGCO are members of the U.S.-Ukraine Business Council (USUBC), www.usubc.org. Both companies have been very active on the market in Ukraine for several years and have sales and distribution operations in Ukraine.