Agriculture is a sector of the American economy that has been impacted heavily by the U.S.-China trade war, but AGCO has been able to avoid a lot of those side effects, CEO Martin Richenhagen told CNBC’s Jim Cramer on Wednesday.
That’s because the Georgia-based manufacturer of farming equipment has strategically established large international exposure, Richenhagen explained in a “Mad Money” interview.
“This is the advantage and that is by purpose. We always wanted to be globally diverse,” he said.
AGCO’s stock has risen more than 35% year to date, while larger competitor Deere has risen just over 10%. Cramer noted that about 20% of AGCO’s sales are in the U.S., compared to about 50% for Deere.
Do you want to learn more? Click here to read more of the article.