Duluth farm machinery manufacturer cutting jobs

LONDON - AGCO Corporation, a farm machinery manufacturer based in Duluth, Georgia, said Tuesday it is closing its British tractor manufacturing plant, slashing 900 jobs at the company. <br> <br> AGCO said the factory in Coventry, central England, will close in June 2003 and the company will move its operations to France in a bid to cut costs. <br> <br> AGCO, the world&#39;s third largest manufacturer of farm machinery with sales of $2.5 billion in 2001, says the closure was part of a ``major manufacturing rationalization plan&#39;&#39; in Europe. <br> <br> The firm says it had come under ``severe competitive pressure&#39;&#39; and that switching operations to Beauvais, France, would ``eliminate the negative impact of currency factors&#39;&#39; and lower production costs.

http://accesswdun.com/article/2002/6/193185