Rayco was building the Fecon machines under contract, and Fecon was installing their own mulcher heads on them. Tractors were the same, except for the Red paint and Fecon decals. In faxct, the two Fecon 140's i had leased had Rayco yellow paint under the Red fecon paint. The parts books actually had Rayco printed on them.
There were so many problems with these Raycobuilt machines, that Frcon started using another company to build tractor units for them. not sure if the moved 100% of the models, or if Rayco stilll builds some.
The Fecon FTX140 is a terrible machine, from a design standpoint. Numerous problems with frame cracks, engine cooling problems, hydraulic cooling problems, cab seal problems, hydraulic cyl. problems, A/C problems, you name it, I saw it all in a 2 year period. Thank God, I did not buy one, just leased them.
The smaller Fecon models, built by Rayco, with the Deutz engines, were very prone to engine overheating and total engine faulure.
Hope this helps.
Jeff