Amity Technology, LLC and Wil-Rich, LLC announce they have agreed to merge and have signed a letter of intent with AGCO to form a joint venture for the development and distribution of air seeding and tillage equipment.
AGCO, based in Duluth, Ga., is a leading provider of agricultural equipment worldwide. As part of the transaction, AGCO will acquire a 50 percent 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, N.D., 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.”