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AGCO Comments on Letter From TAFE

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DULUTH, Ga., Sept. 30, 2024 /PRNewswire/ — AGCO (NYSE: AGCO), a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology, today issued the following statement in response to the letter issued by Tractors and Farm Equipment Limited (“TAFE”):

TAFE’s interests are fundamentally misaligned with AGCO shareholders, and its letter today is just the latest tactic in its ongoing, self-serving campaign. In fact, TAFE’s letter was issued shortly after (i) AGCO prevailed at the Indian Supreme Court against TAFE’s efforts to avoid arbitrating one of its commercial disputes, and (ii) AGCO’s immediate termination of TAFE’s right to use the Massey Ferguson trademark and distribute Massey Ferguson products in India and other countries following TAFE’s inappropriate and unauthorized actions.

AGCO’s Board of Directors, which has been meaningfully refreshed in recent years, is overseeing management’s successful execution of the Company’s transformation and strategic plan, which resulted in record full-year net sales and adjusted operating margins in 2023, outperforming the global market. AGCO is also on track to deliver structurally higher adjusted operating margins compared to prior industry downturns.

AGCO’s Board of Directors and management team remain committed to acting in the best interests of all AGCO shareholders.

About AGCO
AGCO (NYSE: AGCO) is a global leader in the design, manufacture and distribution of agricultural machinery and precision ag technology. AGCO delivers value to farmers and OEM customers through its differentiated brand portfolio including core brands like Fendt®, GSI®, Massey Ferguson®, PTx and Valtra®. AGCO’s full line of equipment, smart farming solutions and services helps farmers sustainably feed our world. Founded in 1990 and headquartered in Duluth, Georgia, USA, AGCO had net sales of approximately $14.4 billion in 2023. For more information, visit www.agcocorp.com. For company news, information, and events, please follow us on X: @AGCOCorp. For financial news on X, please follow the hashtag #AGCOIR. 

Forward Looking Statement
Our belief that we are on track to deliver structurally higher adjusted operating margins is a forward-looking statement. Actual results could differ materially from those reflected in this statement for a range of reasons, including: general economic and capital market conditions; availability of credit to our retail customers; the worldwide demand for agricultural products; grain stock levels and the levels of new and used field inventories; cost of steel and other raw materials; energy costs; performance and collectability of the accounts receivable originated or owned by AGCO or our finance joint ventures; government policies and subsidies; uncertainty regarding changes in the international tariff regimes and product embargoes and their impact on the cost of the products that we sell; weather conditions; interest and foreign currency exchange rates; limitations on ability to repatriate funds; inflation, including in individual countries that have been designated as highly inflationary; pricing and product actions taken by competitors; commodity prices, acreage planted and crop yields; farm income, land values, debt levels and access to credit; pervasive livestock diseases; production disruptions, including due to component and raw material availability; production levels and capacity constraints at our facilities, including those resulting from plant expansions and systems upgrades; integration of recent and future acquisitions, including the completed acquisition on April 1, 2024 of the Trimble ag assets and formation of the joint venture, PTx Trimble, and the ability to obtain the expected results; our ability to complete the sale of the majority of the G&P business; our expansion plans in emerging markets; supply constraints, including energy shortages; our cost reduction and control initiatives; our research and development efforts; dealer and distributor actions; regulations affecting privacy and data protection; technological difficulties; the impact of the COVID-19, or other future pandemics, on product demand and production; the occurrence of future cyberattacks, including ransomware attacks; the conflict in Ukraine; and restrictive covenants, payment obligations and other factors related to our level of indebtedness. . Any forward-looking statement speaks only as of the date on which such statement is made, and we disclaim any obligation to update the information contained in such statement to reflect subsequent developments or information except as required by law.

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Ricoh Asia Pacific Establishes Malaysia Hub for Digital Transformation

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KUALA LUMPUR, Malaysia, Oct. 1, 2024 /PRNewswire/ — Ricoh Asia Pacific today announced the official opening of Ricoh Business Services Asia Pacific (RBS) in Malaysia, marking a significant milestone in the company’s transformation journey and commitment to operational excellence across the Asia-Pacific region. The new RBS entity will serve as a central hub for Ricoh’s shared services, accelerating transformation efforts and enhancing the quality of services offered to customers and stakeholders alike.

Malaysia was chosen as the base for RBS due to its strategic location at the heart of Southeast Asia, providing excellent connectivity to key regional markets. Additionally, Malaysia offers a robust infrastructure and a highly skilled workforce, making it an ideal environment for RBS’s operations. These factors, combined with supportive government policies that encourage foreign investment, make Malaysia a compelling destination for multinational companies like Ricoh.

Malaysia offers a unique combination of strategic advantages, from its geographical location to its deep talent pool,” said Masayuki Mori, President of Ricoh Business Services. “This investment reflects our confidence in Malaysia’s potential and is critical to achieving our regional goals.”

The establishment of RBS will enable Ricoh to centralise essential functions such as IT, finance, HR, and supply chain management, allowing for streamlined processes and improved efficiency across the region. By consolidating these operations, Ricoh will reduce costs and drive greater value for both the company and its customers. This centralised approach will support Ricoh’s long-term growth ambitions and help maximise return on investment across its APAC operations.

In addition to operational efficiency, RBS will have a positive impact on the local economy by creating skilled jobs and providing development opportunities for Malaysian professionals. Ricoh is committed to fostering local talent through training programs and regional collaboration initiatives, contributing to both the professional growth of employees and the economic development of Malaysia. This investment highlights Ricoh’s broader vision of empowering its people and driving innovation throughout the region.

“This is just the beginning of an exciting journey,” Mori added. “With RBS at the heart of our operations, we are well-positioned to become the most trusted digital transformation and workplace service partner in the region. We look forward to building a future where innovation and operational excellence lead the way for Ricoh, our employees, and our customers.”

About Ricoh

Ricoh is a leading provider of integrated digital services and print and imaging solutions designed to support the digital transformation of workplaces, workspaces and optimise business performance.

Headquartered in Tokyo, Ricoh’s global operation reaches customers in approximately 200 countries and regions, supported by cultivated knowledge, technologies, and organisational capabilities nurtured over its 85-year history. In the financial year ended March 2024, Ricoh Group had worldwide sales of 2,348 billion yen (approx. 15.5 billion USD).

It is Ricoh’s mission and vision to empower individuals to find ‘Fulfillment through Work’ by understanding and transforming how people work so we can unleash their potential and creativity to realise a sustainable future.

For further information, please visit www.ricoh.com

© 2024 RICOH ASIA PACIFIC PTE LTD. All rights reserved. All referenced product names are the trademarks of their respective companies.

 

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SOURCE Ricoh Asia Pacific Pte Ltd

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Wondershare Filmora 14 Revolutionizes Video Editing with Advanced AI Features

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VANCOUVER, BC, Oct. 1, 2024 /PRNewswire/ — Wondershare, a global leader in creativity software solutions, is announcing the launch of Filmora 14, the latest iteration of its award-winning video editing software. With the slogan “More AI, Videos in Less Clicks”, this major update introduces groundbreaking AI features that streamline the video creation process for content creators of all skill levels. Filmora 14 harnesses the power of artificial intelligence (AI) to enhance productivity and creativity in video editing. 

The new version introduces an innovative Smart Short Clips feature, enabling one-click automatic extraction and editing of highlight reels from original long-form video footage into multiple refined short clips, streamlining the process of efficient short video creation. Filmora 14 embraces the AI era with over ten new AI-powered tools designed to boost efficiency and quality. These include Smart Scene Cut, AI translation-Lip-Sync, AI Face Mosaic, AI Portrait Cutout, and AI Sound Effect. 

Regarding AI quality enhancement, Filmora 14 offers AI Video Enhancer, AI Voice Enhancer, AI Color Palette, and Voice Denoise, comprehensively optimizing video and audio quality. Filmora 14 also introduces professional features such as Multi-Camera Editing, Planar Tracking, Path Curve, and Magnetic Timeline, solidifying the foundation of professional video editing.

 

Smart Short Clips 

The new feature utilizes AI to automatically extract highlight reels from the original video and transform them into short, vertical clips that are perfect for social media platforms. The final result also intelligently matches subtitles, sound effects, stickers, and transitions, while supporting scheduled distribution across multiple social platforms. This tool meets the increasing demand for short-form content creation, simplifying the process for creators, educators, and marketers while boosting efficiency and professionalism.

AI Video Enhancer

The AI Video Enhancer improves video quality by restoring detail and texture in blurred-focus or low-resolution footage using advanced AI algorithms. This feature significantly enhances clarity, which is particularly beneficial for footage captured on lower-end cameras.

AI Color Palette

Filmora 14’s AI Color Palette feature allows users to replicate the color grading of reference footage and seamlessly apply it to their own projects with a single click, all while preserving natural skin tones. This powerful tool democratizes professional-grade color correction, enabling even novice users to achieve professional, cinematic visuals by emulating the color tones of blockbuster films.

Multi-Camera Editing

Filmora 14 introduces a sophisticated Multi-Camera Editing feature, allowing users to seamlessly edit footage from multiple camera angles on a single timeline track. This feature creates dynamic, professional-looking videos for interviews, tutorials, stage performances, and sports replays.

Planar Tracking

Filmora 14’s advanced tracking technology allows users to seamlessly attach images, graphics, text, or videos to flat surfaces within their footage. This feature ensures that added elements move naturally in sync with camera movements. It’s perfect for overlaying logos or embedding personal videos onto promotional displays.

The video creation industry is experiencing exponential growth driven by AI. Bloomberg Intelligence forecasts that the global generative AI market could reach $1.3 trillion by 2032, with a compound annual growth rate of 42%.

“With Filmora 14, we’re pushing the boundaries of what’s possible in video editing,” said Queenie, the Head of Global Brand Marketing at Wondershare. “Our AI-powered features save time and unlock new creative possibilities for content creators. We’re excited to see how our users leverage these tools to bring their visions to life.”

Wondershare Filmora 14 is a significant milestone in the evolution of AI in the video editing industry. The software is now available for Windows and macOS. For more information about Filmora 14 and to download a free trial, visit https://filmora.wondershare.com. Experience the future of video editing with Wondershare Filmora 14 – where AI meets creativity.

About Filmora

Filmora is designed with its user in mind, featuring smoother performance and an intuitive user interface. With advanced AI features boosting content generation and editing, over 220,000 creative assets, commercially available music, 3D LUTs, effects, and pre-set templates, Empowering over 100 million users worldwide, Filmora stands out as a leader in video editing software. Consistently introducing innovative tools, it enhances video creation and makes the process more efficient and accessible for all skill levels. Filmora is available on iOS, Android, macOS, and Windows. To try it for free, visit filmora.wondershare.com. Follow Wondershare Filmora on YouTube, TikTok, Instagram, and Facebook to learn more.

About Wondershare

As a renowned global leader in creativity and productivity solutions, Wondershare is dedicated to making cutting-edge technology accessible to everyone, fostering increased efficiency and creativity. Our commitment to excellence has been recognized through prestigious accolades from organizations like The Shorty Awards, G2, and GetApp. With a user base spanning over 100 million individuals across 200 countries and regions, we offer diverse software solutions encompassing video editing, PDF manipulation, data recovery, diagram creation, graphic design, and more, all focused on one principle: Creativity Simplified.

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OMP and Bluecrux Announce Joint Value Proposition of Unison Planning and Binocs Platforms to Enhance Life Sciences Supply Chain Efficiency

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ANTWERP and AALST, Belgium, Oct. 1, 2024 /PRNewswire/ — OMP, a global leader in supply chain planning solutions, and Bluecrux, a premier provider of value chain consultancy and technology solutions, are excited to present a powerful combination of their flagship platforms: OMP’s Unison PlanningTM and Bluecrux’s BinocsTM. As the latest evolution in this longstanding partnership, the joint offering marks a significant milestone in the collaboration between the two companies: after a decade working together, this new phase allows their combined technologies to provide unparalleled value to customers in the life sciences industry. 

The combined strength of both solutions will help companies in life sciences to streamline manufacturing and quality operations on both the short- and mid-term horizons, reducing friction and increasing overall operational efficiency. This enables agility and resilience in responding to market fluctuations and operational disruptions, ultimately driving faster time-to-market for critical products.  

A decade of collaboration 

Over the past ten years, OMP has successfully collaborated with Bluecrux’s consulting business unit on numerous projects, driving innovation and efficiency across the life sciences, CPG and chemicals sectors. This next step focuses on the joint value proposition of their respective planning platforms, delivering a powerful, unified solution designed to optimize the entire supply chain for life sciences organizations. 

Integration of “best-of-suite” and “best-of-breed” solutions 

OMP’s Unison PlanningTM is a best-of-suite supply chain planning platform that provides end-to-end (E2E) supply chain planning capabilities. As a “best-of-suite” solution designed to handle everything from strategic network design to detailed production scheduling, Unison Planning is known for its flexibility, scalability, and ability to deliver real-time insights that drive smarter decision-making across the supply chain. 

In contrast, Bluecrux’s BinocsTM is a “best-of-breed” resource management system specifically tailored for the unique challenges of laboratory planning and scheduling in the life sciences sector. BinocsTM excels at optimizing laboratory operations through AI-enabled resource scheduling, advanced capacity planning, and intelligent test management, making it an indispensable tool for labs in highly regulated environments, such as QC teams. 

Greater than the sum of its parts 

“What makes this collaboration unique is that, while both systems handle planning and scheduling, they focus on entirely different aspects of the supply chain,” states Anneleen Tronquo, Managing Partner at Bluecrux. “Unison PlanningTM focuses on manufacturing constraints, whereas BinocsTM specializes in lab constraints, like equipment availability and personnel. Together, they present a complementary offering that delivers more value than the sum of its parts.” 

As elaborated by Jasper Wouters, Global Industry Lead for Life Sciences at OMP: “Our goal with this integration is to enable more fact-based decision-making and reduce the emotional debates that often arise between Quality and Manufacturing teams when priorities shift. With a synchronized view of operations, our joint solution helps resolve such conflicts quickly and efficiently.” 

This powerful combination will allow life sciences organizations to better align their QC and production planning processes, leading to more agile and responsive supply chains.  

To highlight the partnership and further explore the benefits of this joint offering, Bluecrux and OMP have also published a detailed white paper titled “Dissolving Silos with Synergy: a collaborative approach to integrating end-to-end supply chain and QC planning in life sciences”. The full paper can be downloaded from the following sites, or by contacting the organizations directly: 

bluecrux.com/whitepapers/dissolving-silos-with-synergy   

About OMP 

OMP helps companies facing complex planning challenges to excel, grow and thrive by offering the best digitized supply chain planning solution on the market. Hundreds of customers in a wide range of industries—spanning consumer goods, life sciences, chemicals, metals, paper and packaging—benefit from using OMP’s unique Unison PlanningTM. 

About Bluecrux 

Founded in 2011, Bluecrux is a leading value chain technology and consulting company, providing solutions at “the Cutting X”. Bluecrux experts and software help to transform today’s supply chains into smart, efficient, and fully integrated value chains. Bluecrux offers solutions that fit the unique complexities of businesses in life sciences, consumer goods, chemicals, and industrial manufacturing. Their BinocsTM technology is the global #1 SaaS solution for scheduling and planning in Quality laboratories and CGT production. 

OMP: https://omp.com/  

Bluecrux: https://www.bluecrux.com/   

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SOURCE Bluecrux

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