News

Slowing ag economy impacts equipment makers

More signs of a slowing ag economy.

AGCO reports net sales of its farm equipment in the third quarter were down 12 percent compared to the third quarter of last year. For the first nine months of the year, AGCO’s net sales were down eight percent from the same period in 2013.

And the Racine (WI) Journal Times reports that the Case IH plant in Mount Pleasant, Wisconsin will put 150 employees on indefinite layoff December 1st. The head of the union for the 850 workers at that plant told the newspaper the company is shutting down second-shift tractor production and cutting production.