At the beginning of 2014, Zhejiang Huali Coating Equipment Co., Ltd. Signed a ¥46 million contract of agricultural machine coating production line with AGCO Corporation, the fortune-500 global agricultural machinery giant.
   Established in 1990 with an annual sale of 8 billion U.S. dollars in 2013, AGCO Corporation now owns four major brands, including Challenger, Fendt, Massey Ferguson and Valtra. AGCO Corporation will be investing 150 million U.S. dollars in Changzhou, Jiangsu to build a world-class agricultural machinery factory together with its world-leading research and development base. As the operating center of AGCO in China, the factory in Changzhou mainly manufactures low horsepower tractor, diesel engine as well as power transmission system exclusively for Massey Ferguson, which provides the most comprehensive agricultural machinery series in the industry with a history of more than 160 years.
   China has a huge market for agricultural machinery and already has become the world’s largest manufacturer for tractors and combined harvesters with the aggregate annual production far more than that of any other countries. According to the state council’s policy blueprint “Opinion” for 2015, China’s major crop cultivation of comprehensive mechanization level will reach above 55% of the entire agricultural production. In addition, the total power for agricultural machinery will reach over 1 billion kilowatts with more than 100 million kilowatts for irrigation and drainage machines. Under such a huge demand with a potential of more than 400 billion RMB, Huali is strongly confident that its current cooperation with AGCO will significantly gain the market shares and will bring Huali to the next level.