6 January 1998
Germany's Deutz AG said it has taken a 50% stake in the engine production operations of AGCO Argentina in a joint venture agreement effective Dec. 31,1997. In addition, Deutz bought a 100% share in the Brazilian engine sales division of AGCO. Under a Deutz license, the joint venture will manufacture air-cooled diesel engines. Prior to signing the agreement, Deutz and AGCO had supplied Deutz engines to Fendt, one of AGCO's many agricultural equipment brands.
Source: Diesel Progress