AGCO Ltd
NYSE : AG

June 21, 2005 08:02 ET

AGCO Appoints Matti Ruotsala Vice President and Managing Director of VALTRA EAME

COVENTRY, ENGLAND--(CCNMatthews - June 21, 2005) - AGCO Corporation (NYSE:AG), a global manufacturer and distributor of agricultural equipment, has announced the appointment of Mr. Matti Ruotsala as its Vice President and Managing Director, Valtra Europe, Africa, Middle East.

Mr Ruotsala is currently Senior Vice President and Deputy to the CEO of KCI Konecranes Plc, the world's leading company in electric overhead travelling cranes, harbour and shipyard cranes and electric hoists. The Company has 4,800 employees and in 2004 reported sales of EUR 728 m. Between 2001 and March 2005, Mr Ruotsala was KCI's Chief Operating Officer and Deputy to the CEO with profit & loss responsibility for the group's global business operations.

Mr Ruotsala is a graduate of Helsinki University with an MSc in Industrial Engineering & Business Administration. He has worked for KCI since 1982 and has previously held senior positions in Marketing, R&D, Sales, Mergers & Acquisitions and KCI's business operations in Asia Pacific. He speaks four languages.

In his new role Mr. Ruotsala will be the Managing Director of Valtra Oy in Suolahti, Finland and will be responsible for AGCO's Valtra Tractor Brand business in Europe, Africa and Middle East. Valtra is the market leader for tractors in the Nordic region of Europe and also has significant sales throughout EAME and Latin America. In 2004 Valtra achieved sales of USD 732 m.

Mr. Ruotsala will report to Gary Collar, Senior Vice President, General Manager AGCO EAME, and will be joining AGCO in early Autumn 2005.

Mr. Ruotsala said, " I am delighted to be joining AGCO at such a time. AGCO's global growth is impressive and Valtra is making an important contribution to that growth. I look forward to working with the Valtra team to develop still further Valtra's contribution to AGCO's ambitious plans for the future".

Mr. Collar said "Matti Ruotsala is a very experienced international executive who will provide leadership in the continued profitable growth of the Valtra Brand and increase AGCO's management strength. Matti's global experience will contribute to Valtra brand growth both inside and outside the Nordic region".

AGCO Corporation, headquartered in Duluth, Georgia, is a global manufacturer and distributor of agricultural equipment and related replacement parts. AGCO products are distributed in more than 140 countries. AGCO offers a full product line including tractors, combines, hay tools, sprayers, forage, tillage equipment and implements through more than 3,900 independent dealers and distributors around the world. AGCO products are distributed under the various well-known brand names AGCO®, Challenger®, Fendt®, Gleaner®, Hesston®, Massey Ferguson®, New Idea®, RoGator®, Spra-Coupe®, Sunflower®, Terra-Gator®, Valtra®, and White™ Planters. AGCO provides retail financing through AGCO Finance in North America and Australia and through Agricredit in the United Kingdom, France, Germany, Ireland, and Brazil. In 2004, AGCO had net sales of $5.3 billion.

Please visit our website at www.agcocorp.com.

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