AGCO, the third largest farm machinery manufacturer in the world, is giving themselves a leg up in the agriculture sector with their purchase of Assumption, Illinois-based GSI Holdings. Greg Peterson, AGCO's Director of Investor Relations, says there were a lot of reasons for the move.

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The buyout will give AGCO a better presence in the grain storage and protein processing markets. Peterson says there are no immediate plans to make employment or business model changes at GSI.

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Greg Peterson, AGCO's Director of Investor Relations, says GSI is a top-notch company.