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AGCO ISSUES FULL YEAR OUTLOOK
Source: AGCO news release

Global industry demand is expected to soften in 2014 compared to 2013.

Modest declines are anticipated for Western Europe and North America with more pronounced declines in South America.

AGCO is targeting earnings per share of approximately $6.00 for the full year of 2014. Net sales are expected to range from $10.8 billion to $11.0 billion. Gross margin improvement is expected to be partially offset by increased engineering expenditures to meet Tier 4 final emission requirements and market development expenses.

"We remain on track to meet our 2014 financial targets and make meaningful progress toward our strategic initiatives," continued the company's CEO Martin Richenhagen.

"We will maintain our focus on improving profitability and reducing working capital throughout 2014, while also making significant investments targeted at increasing productivity in our factories and delivering high-tech solutions that help farmers improve their efficiency and productivity. We are also forecasting another year of solid cash generation after funding our growth investments."


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