The web site “Agriculture Dive” is reporting that the parent company of G-S-I, which has factories in Taylorville and Assumption, has entered into an agreement to sell that division.  

Their article states agricultural machinery manufacturer Agco has entered into an agreement to sell the majority of its grain and protein business, as part of the tractor maker’s overall restructuring to focus on precision technology.

American Industrial Partners will pay $700 million in cash to acquire Agco’s grain storage equipment and solutions in addition to livestock management systems primarily tailored to poultry, swine and egg production. 

The deal is expected to close at the end of the year and involves the divestiture of brands including GSI, Automated Production, Cumberland, Cimbria and Tecno. The sale does not include Agco’s grain and proteins business in China.