Agco invests EUR 100 million in Finnish factory
US-based agricultural equipment manufacturer Agco is investing more than 100 million euros in the Agco Power engine factory in Nokia, Finland.
The investment will be made over the course of five years, during which time a completely new family of engines will be developed, new machinery and tools will be purchased, and the assembly plant will be enlarged.
Agco Power manufacturers engines for heavy machinery such as tractors and combine harvesters. The new engines, which are to go into production in 2022, will be more fuel-efficient, cleaner and easier to assemble.
“Engines are becoming more environmentally-friendly with emission regulations and renewable fuels,” said Juha Tervala, CEO of Agco Power. “Our new engines are also suitable for hybrid and electric use. We here at the Linnavuori factory see this investment as a sign of great confidence and it strengthens our belief in the future.”
In addition to the Agco Power plant in Finland, the company manufacturers engines in China, Brazil and Argentina, with a combined annual production capacity of 100 000 engines.