KUBOTA

Kubota has reported revenues of $17.3 billion at 31 December 2019 – an increase of $628.million (3.8%) on the prior year.

Operating profit increased by $110.8 million (6.5%) from the prior year to $1.8 billion.

Overseas revenue increased by $195.5 million (1.7%) from the prior year to $11.7 billion In Europe, revenue decreased due to a negative effect from the yen appreciation against the Euro and the British pound sterling. There were some negative impacts from rushed demand for engines caused by tightening of emission regulations in the prior year and stagnated demand for construction machinery in the United Kingdom along with a concern about economic downturn caused by Brexit.

JOHN DEERE

Deere & Co has reported that its worldwide net sales and revenues decreased 4% in the first quarter ended 2 February to $7.63 billion. Net sales of the company’s equipment operations were $6.53billion for the quarter, compared with $6.94 billion in 2019; a decline of 6%

Year-over-year sales of agriculture and turf equipment for the quarter fell 4% to $4.49 billion from $4.68 billion. Operating profit increased 7%, to $373 million vs. $348 million in the first quarter of 2019. Operating margin improved to 8.3% compared to 7.4% a year earlier.

Deere’s worldwide sales of agriculture and turf equipment are forecast to decline 5-10% for fiscal year 2020, including a negative currency-translation effect of about 1 percent.

MAHINDRA / MISUBISHI

Indian tractor maker Mahindra has announced a new range of tractors to be created with Mitsubishi of Japan. The new line is set for launch in 2021, with models to be introduced over the next 2 years.

Called K2, itwill have 4 tractor variants designed for both domestic and international markets. The work will be primarily done in Japan in co-operation with Mitsubishi Agriculture Machinery."

In 2015, Mahindra acquired a 33.3% share of Mitsubishi's stock.

AGCO

AGCO is to further expand its manufacturing site in Beauvais, France. Martin Richenhagen, CEO, made the announcement at the Choose France summit, led by French President Emmanuel Macron. He said “We intend Beauvais to become the Global Home of the Massey Ferguson Brand.

The acquisition of the 15.7 hectare ex-Froneri site, which includes 4.5 hectares of buildings, will enable Massey Ferguson to meet growing demand for its equipment. The brand has launched 18 new tractor ranges since 2015, with  a further 10 to come by 2023.

SDF

SDF Group, manufacturer of Deutz-Fahr, SAME and Lamborghini tractors, has embarked on an investment project that will modernize and expand its Indian tractor and engine manufacturing plant.

Due to be completed over 3 years without interrupting production, the renewal program at the Ranipet plant near Chennai, Tamil Nadu, in southwest India, will extend the factory’s logistics area and redefine the transmission assembly line and painting facilities.

LEGAL RULING

In January 2020, a jury in Oklahoma awarded a woman $5 million in a civil suit that followed her husband's death in a tractor accident.

The jury found Deere & Co to be responsible for the May 25, 2014, death of James Beall, age 38, when the tractor he was driving rolled over, trapping him underneath.

The case involved a John Deere 3038 E Compact Utility Tractor with a 305 front loader that was sold to the Bealls by P&K Equipment, Inc., of Stillwater. The tractor and an optional front loader were assembled at the Deere plant in Georgia and then shipped to P&K Equipment.

Shylah Beall's suit claimed that the tractor was unsafe and had not been properly configured by either the factory or the dealership before she and her husband took delivery. Throughout the lawsuit, Deere denied the accusations.

NOTE: Product liability laws vary from state to state, and country to country. An appeal against the ruling is likely. Initially, the dealer was sued but the case was dismissed after 18 months of legal wrangling. Read more and analysis by Farm Equipment magazine

END PIECE: WHAT’S IN A NAME?

The origin of the AGCO name was always a compromise according to founder Bob Ratliff. In 2013, he said that after acquiring Deutz-Allis from Klöckner Humboldt and Deutz of Germany, they thought they’d call the company the Allis Gleaner Company.

The idea was quickly abandoned when the company handling the bankruptcy of Allis Chalmers would not let AGCO use the world “Allis” as a prefix without paying a major royalty. Gleaner-Allis and other names were considered, but ultimately they decided on AGCO. Ratliff said they “figured people could translate it any way they wished. Also, it would be first in the phonebook, so the name really was never defined internally in any specific manner.”