Farm equipment maker Agco Corp. said on Friday it expects relatively flat global demand in 2012 but said a recent acquisition would boost earnings to about $5 per share.
The company, whose rivals include Deere & Co and CNH Global NV, said it expects sales to rise 10 percent to 15 percent next year. It forecast "level" demand in Western Europe but healthy growth in Eastern Europe and Russia and said farm fundamentals are strong in Brazil, a key market for agricultural equipment.
Agco this month completed a $928 million acquisition of GSI Holdings, a maker of grain storage systems. It said the deal should add 45 cents a share to next year's profit.
It was not immediately clear whether average analyst estimates of $4.68 per share in 2012 earnings included that acquisition.
Agco shares were up 2.7 percent to $41.77 in morning trading. Deere and CNH were also higher.