AGCO is one step closer to purchasing Lely's forage division.
The worldwide agricultural equipment manufacturer and distributor announced earlier this week that it has reached an agreement in principal with Lely.
AGCO chairman, president and CEO Martin Richenhagen says the integration of Lely's industry-leading hay and forage technology into AGCO's product line will strengthen all it offers.
Lely's forage division is considered a leader amongst balers and loader wagons in Europe.
The transaction is expected to close some time this fall.
