Integrity Sales & Services, Inc. looks to take advantage of a strong farm equipment market by going public in a reverse merger with PROCONCEPT MARKETING, a deal which is expected to close as early as next week.
Located near Fort Wayne, Indiana, Integrity Sales & Service, Inc. is a commercial market dealer of used trucks and trailer sales, service, and carries heavy duty inventory including used expedite, box, dump, grain and flatbed trucks, semi tractors, trailers, hot shots, light duty automobiles, and bucket trucks, with a large focus on the agriculture service market in the region. www.99trucks.com
But how strong of an investor interest is there for this sector?
Well, if you take some of the biggest leaders in the farm equipment sector, such as Deere & Co. and AGCO Corp., you can see both of these stocks have performed exceptionally well over the past year.
Both these stocks have shown strong investor interest with AGCO up over 32%, and DE up over 54% in the past 12-months.
According to a recent report from the Association of Equipment Manufacturers, sales nationwide for all combine companies reported sales of self-propelled models were up 42.3% in February from the same month in 2010.
While food and farm commodity prices continue to climb farmers are taking advantage of these high prices to increase their production by outlaying more capital for new and used farm equipment.
Although a small company when compared to the other big players in the sector, Integrity Sales may be entering a market where as long as food and commodity prices remain high, so will investor appetite for stocks in this business.