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Titan Machinery Acquires Tucson Tractor Company

WEST FARGO, N.D. — (BUSINESS WIRE) — February 19, 2013 — Titan Machinery Inc. (NASDAQ:TITN) announced today that it has acquired Tucson Tractor Co., consisting of one Case Construction equipment dealership located in Tucson, Ariz.

Tucson Tractor is strategically located in southern Arizona and well positioned to serve a five county area. The dealership has been in business for over 45 years and complements the company’s existing Case Construction equipment dealerships in Phoenix and Flagstaff, Ariz. In its most recently reported fiscal year, Tucson Tractor generated revenue of approximately $7 million.

David Meyer, Titan Machinery’s chairman and CEO, said, “We are excited to expand our construction equipment footprint in the Southwest with the acquisition of Tucson Tractor Company. The dealership is well located to serve a vast area and has strong market potential for new and used construction equipment and parts and service sales, as well as for associated rental demand.”

About Titan Machinery Inc.

Titan Machinery Inc., founded in 1980 and headquartered in West Fargo, North Dakota, is a multi-unit business with mature locations and newly-acquired locations. The Company owns and operates a network of full service agricultural and construction equipment stores in the United States and Europe. The Titan Machinery network consists of 105 North American dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska, Wyoming, Wisconsin, Colorado and Arizona, including two outlet stores, and 13 European dealerships in Romania, Bulgaria, and Serbia. The Titan Machinery dealerships represent one or more of the CNH Brands (NYSE: CNH), a majority-owned subsidiary of Fiat Industrial (Milan: FI.MI), including CaseIH, New Holland Agriculture, Case Construction, New Holland Construction, Kobelco and CNH Capital. Additional information about Titan Machinery Inc. can be found at www.titanmachinery.com.

Source: Titan Machinery Inc.

 

 

Posted February 19, 2013


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