MARKETING NEWS.

Shareholders of Ag-Chem Equipment Co., Minnetonka, Minn., have approved an acquisition offer from Duluth, Ga.-based AGCO Corp. Ag-Chem will operate as a division of AGCO. AGCO will move the current production operations of its Willmar, Minn., manufacturing facility into the Jackson, Minn., Ag-Chem facility. The Ag-Chem manufacturing facility in Benson, Minn., and the administrative office in Minnetonka, Minn., will also close. Production of Ag-Chem's Lor*Al product line located in Benson will be relocated to Jackson. AGCO will also relocate the majority of Ag-Chem's engineering and administrative functions to the Jackson location.

Ron Hess will head up AGCO's new Ag-Chem division. Hess has been named vice president and general manager reporting directly to John Shumejda, president and CEO of AGCO. Hess will have full responsibility for all Ag-Chem North American operations. Duluth, Ga., will become the general office location for the Ag-Chem division. Ag-Chem's SOILTEQ division will operate as a separate AGCO division under the direct supervision of Norm Boyd, senior vice president, corporate development at AGCO. Mary Jetland of Ag-Chem will continue as managing director of the SOILTEQ division, reporting directly to Boyd. The SOILTEQ division will remain in the Minnetonka office.

Archer Daniels Midland Co., Decatur, Ill., and P&G Chemicals, a business unit of Procter & Gamble, Cincinnati, have formed a Technology Council to explore opportunities that will lead to the development of innovative natural-based products. "We are very pleased to be teaming up with ADM, a world leader in the processing of agricultural products," says Ian S. Edwards, managing director of P&G Chemicals. "ADM has demonstrated the ability to develop innovative natural-based products from its raw materials, and we look forward to working with them to create and market new products that contribute to their growth and ours."

Eco Soil Systems Inc., Rancho Bernardo, Calif., has entered into a letter of intent to merge with microbial biotech company PHC Inc., Pittsburgh. Closing is anticipated this summer and is dependent on favorable shareholder votes at both companies. Additionally, Eco Soil announces the resignations of two recently appointed directors, Jack Gilbert and Jim Chamberlain.

EnviroLogix Inc., Portland, Maine, and Monsanto Co., St. Louis, have announced an agreement under which EnviroLogix will have access to certain Monsanto proprietary antibodies and proteins to develop test kits for various transgenic traits. EnviroLogix will be able to develop and market tests for a number of current and new transgenic traits, including Roundup Ready soybeans, cotton and canola, as well as certain Bt insect-protection traits in corn and cotton.

CNH Global, Racine, Wis., and Shanghai Tractor and Internal Combustion Engine Corp., Shanghai, will form a joint venture company to manufacture, distribute and ultimately export agricultural tractors under 100 horsepower. The two companies have agreed to establish Shanghai New Holland Agricultural Machinery Corp., Ltd. Annual output is expected to reach more than 18,000 tractors and about 16,000 engines within five years. CNH will hold a 60 percent equity share, and Shanghai Tractor will hold the remaining 40 percent. The joint venture company will be based in Shanghai Tractor's facility in Shanghai.

Leaders from major U.S. farm organizations have come together through a collaborative advisory panel established by Monsanto. The Council will provide strategic advice and guidance to the company on important business issues and identify new opportunities to benefit American producers. The 17-member board will be chaired by former U.S. Congressman Tom Ewing.