Maschio Gaspardo has invested in a production capacity increase at its factory in Romania where the group manufactures minimum tillage cultivators, moldboard plows and round balers.
The company report the 2019 fiscal year concluded with a consolidated net profit of 5.8 million euros ($6.4 million), almost quadrupled compared to the previous year, when it was around 1.5 million euros ($1.7 million).
Italian agricultural machinery group Maschio Gaspardo has secured additional financial support in the form of a €5 million ($5.6 million) stake in the group’s manufacturing and assembly operation in Romania.
Italian farm machinery group Maschio Gaspardo has secured an agreement with 21 banking institutions to reschedule €140 million ($155 million) of debt to support the group’s international development.
Senior managers at Maschio Gaspardo, the Italian farm equipment group with a North American operation based at DeWitt, Iowa, have successfully negotiated debt restructuring with 24 creditor banks in line with a new business plan formulated last year.
Italy’s Maschio Gaspardo group plans to spend €130 million ($177 million) in capital investments over the next 5 years to build on the €120 million ($163 million) investment it has made in the 3 years from 2011 to 2013.
Italian tillage equipment specialist Maschio Gaspardo is looking to record a big increase in revenues this year following the acquisition of two spraying equipment companies toward the end of 2012.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.