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AGCO reports sales growth

DULUTH - Duluth-based AGCO Corp. reported net sales for the third quarter of 2007 at $1.6 billion, an increase of 36.6 percent more than the same period last year.

Net sales for the first nine months of 2007 increased approximately 22.5 percent to $4.7 billion, company officials reported.

"Robust global farm equipment markets drove strong sales growth and improved operating results in all four of our geographic segments for the third quarter," said Martin Richenhagen, Chairman, President and Chief Executive Officer. "AGCO's focus on profitable growth through product improvements and efficiency initiatives allowed us to capitalize on the improved market conditions."

AGCO manufactures agricultural equipment and distributes it worldwide.