AGCO buys Landini distributor rights.

AGCO Corporation has entered into an agreement with Landini S.p.A. of Fabbrico, Italy, to become the exclusive distributor of Landini equipment in the US, Canada and Mexico.

AGCO acquired Landini's portfolio of North American receivables with an estimated value of $5.3 million. Sales of Landini in North America reached $26 million in 1994. Worldwide, Landini had sales of US $220 million last year.

Landini products, manufactured in Italy, will be sold through AGCO's distribution network of more than 2,600 dealers. The network will be expanded to include the existing Landini dealer network in North America.

Landini manufactures specialty tractors that are used in such applications as vineyards and orchards, as well as a full range of agricultural tractors, 40-130 HP.

AGCO, through its June 1994 acquisition of Massey Ferguson Group, already owns 30 percent of Landini.

Robert Ratliff, chairman and CEO of AGCO, said the agreement represents a new profit opportunity for dealers who sell a variety of AGCO products. Landini will be added to the list of AGCO brand names: AGCO, Allis, Massey Ferguson, Hesston, White, GLEANER, White-New Idea, AGCOSTAR, SAME and Black Machine.