Business Roundup: JCB wins AEM award; AGCO sales jump; Engcon establishes U.S. HQ; Danfoss acquires Visedo; Vandalia Rental opens Cincinnati branch

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JCB honored with AEM’s Pillar of the Industry award

JCB received the “Pillar of the Industry” award from the Association of Equipment Manufacturers (AEM) in recognition of its work to improve the business environment for the equipment manufacturing industry, its efforts to advocate for pro-manufacturing solutions, and its participation in AEM’s “I Make America” grassroots program.

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AGCO posts 12.8% 3Q sales jump

Despite low market demand, AGCO is reporting net sales of about $2 billion– up by 12.8 percent for the third quarter of 2017 compared to the same period a year ago.

AGCO, which makes and distributes the Massey Ferguson, Challenger, Fendt, Valtra and GSI brands of agricultural equipment, reported net income at 76 cents per share and adjusted net income, excluding restructuring expenses, at 79 cents per share.

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Swedish tiltrotator manufacturer Engcon establishes U.S. headquarters

Engcon, which manufactures tiltrotators — a tilting and rotating quick coupler for excavators popular in Europe — has opened North American headquarters in North Haven, Connecticut, with the intent of establishing a more defined distribution network in the United States and Canada.

The Swedish firm, with annual revenues of $90 million, says it has been selling tiltrotators, quick couplers and other items throughout Europe and Australia for 26 years. The company’s product has also been available here through dealers in the past 10 years.

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Danfoss acquires Visedo, global maker of electric drivetrains

Danfoss has bought Visedo Oy, a Finnish manufacturer of hybrid and electric drivetrains for marine and commercial vehicles.

The Danfoss group, headquartered in Finland, says the move will help the international company respond to the growing customer demand for electric solutions to reduce emissions and pollution and increase productivity.

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Vandalia Rental opens third branch, expands to Cincinnati area

Vandalia Rental continues its growth with the opening of a new location in Sharonville, Ohio, in the greater Cincinnati area.

The third-generation family-owned business marks its second opening of a new location in less than two years. It opened a branch in Franklin, Ohio, in June 2016.

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