AgJunction Signs Long-Term Agreement with Mahindra
SCOTTSDALE, AZ, Dec. 13, 2018 /CNW/ - AgJunction Inc. (TSX: AJX), the Autosteering Company™ ("AgJunction"), announced that it has entered into a framework development agreement with Mahindra & Mahindra Ltd. ("Mahindra"). Under the agreement, the parties will jointly prepare statements of work for future development products that will outline specific deliverables and detailed commercial terms. The framework agreement gives Mahindra access to AgJunction's world class engineering team and technology. AgJunction secures a solid relationship with the world's largest tractor company by volume and would gain access to Mahindra's unmatched supply chain and penetration into Asia and other strategic markets.
"Working together with the world's largest tractor company will potentially create great opportunities toward our mission to expand our offerings to all farmers," said Dave Vaughn, president and CEO of AgJunction. "And it further strengthens our commitment to making our technology low-cost, simple-to-use and easily accessible to all farmers worldwide through our indirect channel partners—OEMs, VARs, and technology licensees—and our direct-to-farmer channel via Handsfreefarm.com."
In 2010, Mahindra became the world's largest tractor company by volume. Mahindra's biggest consumer base is in India, North America, and a growing market in Australia.
About AgJunction
AgJunction Inc., the Autosteering Company™ is a global leader of advanced guidance and autosteering solutions for precision agriculture applications. Its technologies are critical components in over 30 of the world's leading precision Ag manufacturers and solution providers and it holds over 130 fundamental steering and machine control patents. AgJunction markets its solutions under leading brand names including Novariant®, Wheelman™, and Whirl™ and is committed to advancing its vision by bringing affordable hands-free farming to every farm, regardless of terrain or size. AgJunction has locations in California, Arizona, and Australia, and is listed on the Toronto Stock Exchange (TSX) under the symbol "AJX." For more information, please go to AgJunction.com.
SOURCE Agjunction Inc.
Media: Jeff Morris, Corporate Communications AgJunction, +1-510-933-4808, [email protected]; Investor Relations: Cody Slach, Liolios Managing Director, +1-949-574-3860, [email protected]
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