Industry News

Alamo Groups Announces Record 2012 Second Quarter and Six Months Results

Alamo Group Inc. (NYSE: ALG) today reported results for the second quarter ended June 30, 2012. Net sales for the quarter were $167.0 million compared to net sales of $160.8 million in the second quarter of 2011, an increase of 4%. Net income for the quarter was $9.3 million, or $0.77 per diluted share, versus $8.9 million, or $0.74 per diluted share, for the same period of 2011, an increase of 5%.
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U.S. Crop Conditions Continue to Decline

Yesterday, USDA released its weekly Crop Progress report that showed that the lack of rain throughout most major agricultural regions continue to negatively impact U.S. crops. For the eighth consecutive week, USDA said that the condition of the U.S. corn crop was worse than it was during the previous week.
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AGCO Reports Second Quarter Results

AGCO, Your Agriculture Company (NYSE:AGCO), a worldwide manufacturer and distributor of agricultural equipment, reported net sales of approximately $2.7 billion for the second quarter of 2012, an increase of approximately 14.1% compared to net sales of $2.4 billion for the second quarter of 2011.
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Cervus Equipment Enters into Agreements to Acquire Five John Deere Dealership Branches in New Zealand

Cervus Equipment Corporation ("Cervus") (TSX: CVL) today announced that it has entered into Purchase and Sales Agreements with Bayquip Agricultural Limited and Fieldpower Northland Limited to acquire a total of five John Deere dealership branches in New Zealand. Cervus also announced that it has signed a memorandum of understanding (MOU) to acquire all of the remaining shares of Agriturf Limited that it does not already own.
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