1999 Tractor News
Case IH announces new productivity-enhancing features for its MX Series MagnumTM tractors. Farmers can now select a SurveyorTM Luxury cab option, a factory-installed front three-point hitch, as well as new tire options to better meet the needs of their individual operations.
AGCO Corporation announced that it would close its manufacturing facilities in Coldwater, Ohio and Lockney, Texas. This decision comes at a time when reduced demand for agricultural equipment continues to negatively impact the industry with lower production levels, reduced price realization and unfavorable currency exchange. In order to remain competitive, AGCO has determined that it is necessary to rationalize production facilities for greater efficiency and lower product cost.
The company, which is traded on the New York Stock Exchange, is one of the largest in the equipment industry with combined 1998 revenue of approximately $12 billion. The multiple brands and corresponding distribution networks of both the Case and New Holland organizations will be maintained in the marketplace.
Agricultural producers and contractors are faced by increasingly tough cost pressures. For this reason Valtra is unveiling its new, driver-friendly 100 kW (135 hp) 8350 HiTech tractor, which in addition to being easy on both the environment and its driver is a true low revolution model.
The X-series is unique in that it combines the best properties of an ordinary farming tractor with articulation, which brings a significant number of benefits. From the serviceability viewpoint, the X-series is a safe choice because it is based on the four-cylinder (100, 110 and 120 hp) Valtra Valmet HiTech tractor.
Valtras response to other advanced power transmissions is the computer-controlled HiTech transmission. It brings together programming, electronics and highly sophisticated electrically controlled hydraulics as well as a combination of a mechanical and Powershift transmission in a new manner.
Valtra introduced five optional colours for its tractors way back in 1988. By offering optional colours Valtra wanted to underline the flexibility in the manufacturing process it had developed for the benefit of the customer.
At Agritechnica Valtra will unveil one of the 260 HP prototypes of its new S series. The series extends the current Valtra Valmet horsepower range and provides new level of performance for large scale farming and contracting. With this new series Valtra sets the benchmark for 21st century tractor technology in terms of both design and features.
Case Corporation is proud to announce the 30th anniversary of Steiger® tractors. Throughout that time, innovations introduced under the Steiger name have transformed growers' expectations for high-horsepower, four-wheel-drive (4WD) tractors.
New Holland N.V. (NYSE:NH) and Case Corporation (NYSE:CSE) will join together to form a nearly $12 billion global equipment company in a cash merger transaction which values the equity of Case at approximately $4.3 billion. Under the agreement, which is being recommended by the board of directors of Case to its shareholders and is fully supported by Fiat, a new Group would be created with Fiat retaining a 71 percent controlling interest. Case shareholders would receive $55 per share in cash from New Holland N.V. New Holland N.V. will fund the transaction by issuing debt and equity. The transaction is subject to regulatory and Case shareholder approvals.