Massey-Ferguson kind of a man." Nevertheless, the company soon began to decline financially after facing increasing international competition in the 1960s, when the firm began to struggle.
Hanomag-Cura, Argentina
Edit
In 1971, Massey purchased the local facilities of Rheinstahl Hanomag-Cura in Argentina, which had been established in 1960. The production of tractors and other agricultural implements, during until 1999. Some model numbers made in Argentina included 65R/250/252, 155, 150, 5160 S-2 / S-4, 5140 / 5140-4, 265, 255, 250, 250 S "viñatero", 8500 and 9500.
Other model numbers included 1075, 1078, 1095h, 1098, 1175 / 1175 S, 1185 / 1185 S, 1195 L / 1195 S-2/S-4, 1215 S-2 / S-4, 1340 S-2/S-4, 1360 S2/S4, 1615 L / S 1615 L, 1640, 1650, 1670, 1690, 1465, 1475 "Super alto", 1485, 1499 SX / 1499 L.
Sunshine, Australia
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Main article: Sunshine Harvester Works
In 1955, Massey purchased the Australian manufacturers of Sunshine harvesters, H.V. McKay Pty Limited. Hugh Victor McKay had invented the combine harvester in 1884, the first machine to combine the functions of reaping, threshing and winnowing grain from a standing crop. By the 1920s, H.V. McKay Pty Ltd was running the largest implement factory in the southern hemisphere, covering 30.4 hectares (75 acres), and led the international agricultural industry through the development of the world's first self-propelled harvester in 1924.
In 1930, the H.V. McKay Pty Limited was granted exclusive Australian distribution of Massey-Harris machinery. The company was then renamed H.V. McKay Massey Harris Pty Ltd. Throughout World War II, H.V. McKay Massey Harris exported over 20,000 Sunshine drills, disc harrows and binders to England to facilitate the increase in food production.
In 1955, the remainder of H.V. McKay Pty Ltd was sold to Massey Ferguson. Manufacturing ended in 1986, and the last section was sold off and demolished in 1992. The former bulk store, factory gates and clock tower, factory gardens, and head office complex still exist and are all listed on the Victorian Heritage Register.[17]
Landini
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In 1959, Massey bought 100% of Landini, based in Italy. Landini has built many models for Massey over the years, especially vineyard and crawler models. Massey sold 66% to ARGO SpA in 1989, some to Iseki later on, and the final portion was sold to ARGO in 2000.
Perkins
Edit-he remarked on the challenges faced by the firm, and outlined his solution, which would have seen the Canadian and Ontario governments as well as Argus Corporation refloat the ailing firm. Black failed to obtain a suitable response, and resolved to cut his losses.[24]
Varity
Edit
See also: List of former tractor manufacturers
Main article: Varity
In October 1980, Argus donated its shares in Massey Ferguson to the employee's pension plans, leading the way to a CA$250 million bail-out from the Government of Canada and the Government of Ontario for the collapsing business, which later was renamed Varity Corporation.[citation needed] In 1986, Varity spun off several money-losing divisions into an entity called Massey Combines Corporation. Massey Combines Corporation was headquartered in Brantford and became insolvent on 4 March 1988,[25] and its assets were re-acquired by Massey Ferguson.[citation needed]
Massey Ferguson 6490 from the mid-2000s
Varity left Toronto and relocated its head office to the Williams-Butler House at 672 Delaware Avenue in the Millionaire Row area of Buffalo, New York. The Toronto manufacturing complex was demolished and the property sold and re-developed, leaving only its head office building standing. Despite its hardships, Massey Ferguson was selling 25% more tractors than its nearest competitors at this time.
In 1992, a management buyout of MF Industrial created Fermec, which finally ceased trading in 2001 when it was taken over by the Terex Corporation, formerly a unit of General Motors. This encompassed all construction equipment from Massey. It was then purchased by Case Corporation in 1997.[26]
In 1994, Massey Ferguson's worldwide holdings were purchased by the United States-based AGCO Corporation for US$328 million in cash and $18 million in stock.[27][28]
In August 1996, Varity merged with Lucas Automotive to become LucasVarity. After a series of mergers and takeovers, the remains of LucasVarity were acquired by the United States company TRW in 1999 for US$6.53 billion.[29]
AGCO Ownership
Edit
While Massey-Ferguson had a strong global presence at 20% market share in 1994, it sold 87% of its machines outside North America.[27] Therefore, the acquisition by AGCO had the aim to increase AGCO's global presence outside North America and increase Massey Ferguson's presence inside North America.
In 2008, the 8600 series became the first agricultural tractor world-wide to feature Selective
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