Argo Tractors to Restructure UK Operations

Norcross, Ga — December 19, 2006 – (AgNewsWire) ARGO Tractors — part of ARGO S.p.A, — has announced plans to restructure business operations in the United Kingdom in order to strengthen the McCormick product line and global business operations.

Specifically, ARGO plans to phase out the assembly of McCormick tractors at its plant in Doncaster, U.K. and transfer these functions to other ARGO Group facilities based in Italy. These facilities feature a strong workforce that is experienced with the McCormick product line. The transfer, phased by product family, will begin in March 2007 and is expected to be completed by year-end.

There are no changes to the McCormick product or in component manufacturing — only the assembly function is being moved.

As a result, the U.K. operation will be designated as a company-owned distribution center providing sales and support to the growing U.K. market. Furthermore, the site will continue to serve as a global service parts operation.

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