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Varity was a former farm equipment company, created in 1986 from the remains of Massey-Ferguson Limited of Toronto, Ontario. Varity also owned Perkins Engines headquartered in Peterborough England and Kelsey-Hayes headquartered in Romulus, Michigan. In 1991, the company officially moved to Buffalo (Williams-Butler House at 672 Delaware Avenue in the Millionaire Row area of Buffalo) and ceased to be a Canadian corporation.

In 1994, in a deal worth three hundred and ten million dollars in cash and stock, the farm equipment divisions of Varity were sold to the US-based AGCO Corporation who continue to use Massey-Ferguson as a product line.

In August 1996, the remaining electrical, brake and Diesel engine divisions of Varity merged with Birmingham UK based Lucas Industries plc (Automotive & Aerospace) to become British-based LucasVarity.

In 1998, following the LucasVarity merger, Perkins Engines, was sold to Caterpillar Inc.

In March 1999, LucasVarity was purchased by US automotive company TRW.

Massey-Ferguson exists today as the brand name within the AGCO Corporation of Duluth, Georgia, USA.