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Commodity glut and China slowdown squeeze mining and construction equipment maker
...Agco, a maker of agriculture equipment, revealed 2016 sales and earnings forecasts that missed analysts’ expectations. It said it expected a third year of “weaker demand” in the North American market....
...Shares in CNH and Agco are down more than 20 per cent so far this year....
...Martin Richenhagen, chief executive of Agco, another big global maker of agricultural equipment, agreed: “Certainly, farmers won’t be able to do their own servicing.”...
...For Martin Richenhagen, chief executive of Agco, the Georgia-based manufacturer of Massey Ferguson and other agricultural equipment, Mr Obama’s plan to double exports is “another proof that the American...
...Increased costs of fuel and pesticides and fertilisers have also increased their incentive to invest....
...But even Agco, the multinational combination of marques such as Massey Ferguson, is in the doldrums. Farmers, of course, are a notoriously pessimistic lot....
...Otherwise, I like Indian vegetarian food, and Veda (8 Arbuthnot Road, Central +852 2868 5885) and Jashan (23 Hollywood Road, Central +852 3105 5311) are favourites.”...
...Veda, which compiles credit worthiness data, also has net debt of A$149m....
...Analysts said the bid for Veda valued the company at 22 times earnings whereas Experian was trading on 18 times prospective earnings before Monday’s gains....
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