World Grain - September 2020 - 64

SUPPLIER NEWS

Kjar named president, general
manager of Chief Agri
KEARNEY, NEBRASKA, US - Mark Kjar has been named
the new president/general manager of Chief Agri, headquartered in Kearney, Nebraska, US.
Kjar started his career with Chief in 1998. He advanced to
manufacturing manager at Chief Fabrication in 2006 and was
promoted to general manager in 2010.
Chief Agri specializes in the design, manufacture and sale of grain storage systems
around the world. In his new role, Kjar will
provide the vision and leadership for global
market growth, uphold high quality expectations, and satisfy ongoing consumer needs.
Kjar
"Our many stakeholders should be encouraged to learn that
Mark has been selected for this leadership role at Chief Agri,"
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Industries. "His proven track record as a general manager at
Chief Fabrication, coupled with his vast experience in various
positions during his career with the company, will prove to be

valuable. Mark has a strong understanding of the culture of
Chief and the importance of upholding our mission."
Kjar graduated from the University of Nebraska at
Kearney with a bachelor of science degree in business administration, an emphasis in human resources and business
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He is also an advocate for manufacturing awareness and
education, through his roles as chairman of the Nebraska
Manufacturing Advisory Council, co-champion of the
Central Nebraska Manufacturing Partnership, and member
of the Industrial Technology Advisory Board at Central
Community College.
"I'm excited to lead the dedicated team at Chief Agri, continuing to build on established customer relationships and
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IXOOFRQ¿GHQFHDOOVWDNHKROGHUVZLOOHPEUDFHRXUFRPPLWPHQW
to brand recognition globally through customer service and
quality products."

AGCO feels pinch of COVID-19 in second-quarter results
'8/87+*(25*,$86²$*&2VX൵HUHGDGURSLQQHW
sales and net income for the second quarter as the company
dealt with the impacts of the coronavirus (COVID-19).
Net sales for the quarter ended June 30 were $2 billion,
while reported net income was 93¢ per share compared with
$1.82 per share a year ago.
1HWVDOHVIRUWKH¿UVWVL[PRQWKVRIZHUHDSSUR[LPDWHly $3.9 billion, a decrease of approximately 10.9% compared
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reported net income was $1.78 per share, and adjusted net income, excluding a non-cash impairment charge and restructuring expenses was $1.97 per share. These results compare
to reported net income of $2.66 per share, and adjusted net
income, excluding restructuring expenses, of $2.68 per share
IRUWKH¿UVWVL[PRQWKVRI
"Our second-quarter results demonstrated strong execution
as we overcame COVID-19 related production disruptions in
(XURSHDQG6RXWK$PHULFDLQRUGHUWRGHOLYHUDVROLGO\SUR¿Wable quarter," said Martin Richenhagen, chairman, president
DQGFKLHIH[HFXWLYHR൶FHURI$*&2³0DUJLQLPSURYHPHQW
LQ RXU 1RUWK $PHULFDQ 6RXWK $PHULFDQ DQG $VLD3DFL¿F
Africa regions highlighted our results. While all our factories
are now open with strong order boards heading into second
half of 2020, we still face a demanding environment to manage
our manufacturing, supply chain and aftermarket operations.
"In addition, end-market demand has been negatively impacted by the pandemic but is proving to be resilient as farmHUVORRNWRUHSODFHWKHLUDJHGÀHHW'HVSLWHWKHVHFKDOOHQJLQJ

FRQGLWLRQVZHDUHIRFXVHGRQGHOLYHULQJVWURQJSUR¿WDELOLW\
DQGKHDOWK\FDVKÀRZLQ´
1HWVDOHVLQWKH1RUWK$PHULFDQUHJLRQZHUHÀDWLQWKH¿UVW
six months of 2020 compared to the same period of 2019.
Increased sales of hay equipment, Precision Planting equipPHQWDQGKLJKKRUVHSRZHUWUDFWRUVZHUHPRVWO\R൵VHWE\ORZer sprayer and grain and protein sales.
AGCO's South American net sales increased 17.8% in the
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2019, excluding the impact of unfavorable currency translation. Increased sales in Brazil and Argentina were partially
R൵VHWE\ORZHUVDOHVLQWKHRWKHU6RXWK$PHULFDQPDUNHWV
AGCO's Europe/Middle East net sales decreased 13.3%
LQWKH¿UVWVL[PRQWKVRIFRPSDUHGWRWKHVDPHSHULRG
in 2019, excluding unfavorable currency translation impacts.
Sales declines were driven primarily by lost production caused
by the impacts from the COVID-19 crisis.
All of AGCO's major European production facilities
were suspended due to supply availability from late March
throughout most of April, with production volumes recovering during the remainder of the quarter. Income from operaWLRQV GURSSHG DSSUR[LPDWHO\  PLOOLRQ IRU WKH ¿UVW VL[
months of 2020, compared to the same period in 2019, due
WRORZHUQHWVDOHVDQGSURGXFWLRQYROXPHVSDUWLDOO\R൵VHWE\
expense reductions.
$VLD3DFL¿F$IULFDQHWVDOHVGHFUHDVHGH[FOXGLQJWKH
QHJDWLYHLPSDFWRIFXUUHQF\WUDQVODWLRQLQWKH¿UVWVL[PRQWKV
of 2020 compared to the same period in 2019.

64

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World Grain - September 2020

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http://digital.world-grain.com/sosland/wg/2019_12_01
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http://digital.world-grain.com/sosland/wg/2019_08_01
http://digital.world-grain.com/sosland/wg/2019_07_01
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http://digital.world-grain.com/sosland/wg/2018_12_01
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http://digital.world-grain.com/sosland/wg/2018_09_01
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https://www.nxtbook.com/sosland/wg/2015_04_01
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https://www.nxtbook.com/sosland/wg/2015_02_01
http://digital.world-grain.com/sosland/wg/2015_01_01
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https://www.nxtbook.com/sosland/wg/2014_08_01
https://www.nxtbook.com/sosland/wg/2014_07_01
https://www.nxtbook.com/sosland/wg/2014_06_01
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https://www.nxtbook.com/sosland/wg/2014_02_01
https://www.nxtbook.com/sosland/wg/2014_01_01
https://www.nxtbook.com/sosland/wg/2013_12_01
https://www.nxtbook.com/sosland/wg/2013_11_01
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https://www.nxtbook.com/sosland/wg/2013_05_01
https://www.nxtbook.com/sosland/wg/2013_04_01
https://www.nxtbook.com/sosland/wg/2013_03_01
https://www.nxtbook.com/sosland/wg/2013_02_01
https://www.nxtbook.com/sosland/wg/2013_01_01
https://www.nxtbook.com/sosland/wg/2012_12_01
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http://digital.world-grain.com/sosland/wg/2010_05_01
http://digital.world-grain.com/sosland/wg/2010_04_01
http://digital.world-grain.com/sosland/wg/2010_03_01
http://digital.world-grain.com/sosland/wg/2010_02_01
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http://digital.world-grain.com/sosland/wg/2009_10_01
http://digital.world-grain.com/sosland/wg/2009_09_01
http://digital.world-grain.com/sosland/wg/2009_08_01
http://digital.world-grain.com/sosland/wg/2009_07_01
http://digital.world-grain.com/sosland/wg/2009_06_01
http://digital.world-grain.com/sosland/wg/2009_05_01
http://digital.world-grain.com/sosland/wg/2009_04_01
http://digital.world-grain.com/sosland/wg/2009_03_01
http://digital.world-grain.com/sosland/wg/2009_02_01
http://digital.world-grain.com/sosland/wg/2009_01_01
http://digital.world-grain.com/sosland/wg/2008_12_01
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