Titan Machinery Acquires Dealership: Winger Implement, Inc.
* Reuters is not responsible for the content in this press release.
FARGO, N.D.--(Business Wire)-- Titan Machinery Inc. (NASDAQ:TITN) announced today that it has entered into a definitive agreement to purchase the outstanding shares of Winger Implement, Inc., a New Holland brand agriculture equipment dealership in Winger, Minnesota. The acquisition is expected to close on May 1, 2009. Located on the edge of the Red River Valley in northwest Minnesota, Winger Implement is a third generation dealership that was founded in 1913 by Albert H. Espeseth. In 2008, Winger Implement generated revenues of $10.4 million. David Meyer, CEO of Titan Machinery, stated, "The Espeseth family has a long heritage of supporting the grower in this prosperous farming community. Tony Espeseth, who will remain the store manager following the acquisition, runs a quality, organized business with great customer service. The Winger team does an excellent job of retailing new and used equipment, and their parts and service departments have a great reputation in the technical after sales business. Winger is strategically located between our Ada, Crookston and Thief River Falls location, and we look forward to combining the experience and passion of Tony Espeseth and his team with the strength and leverage of Titan Machinery`s business model." About Titan Machinery, Inc. Titan Machinery Inc., founded in 1980 and headquartered in Fargo, North Dakota, is a multi-unit business with mature locations and newly acquired locations. The Company owns and operates one of the largest networks of full service agricultural and construction equipment stores in North America. Including Winger Implement, the current Titan Machinery network consists of 62 dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska and Wyoming, including two outlet stores, representing one or more of the CNH Brands (NYSE:CNH) 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. Forward Looking Statements Certain statements found in this press release may constitute forward-looking statements as defined by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. Such statements are generally identifiable by the terminology used, such as "anticipate," "believe," "intend," "expect," "plan," or other similar words. Our forward-looking statements in this release generally relate to the benefits related to the Winger Implement, Inc. acquisition. Although it is not possible to foresee all of the factors that may cause actual results to differ from our forward-looking statements, such factors include, among others, integrating its operations with Titan Machinery and those risks described from time to time in our reports to the Securities and Exchange Commission. Investors should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or potentially inaccurate assumptions that could cause our current expectations or beliefs to change. Stockholders and other readers should not place undue reliance on "forward-looking statements," as such statements speak only as of the date of this release. The Company undertakes no obligation to update publicly or revise any forward-looking statements. ICR, Inc. John Mills, 310-954-1100 jmills@icrinc.com Copyright Business Wire 2009
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.


Follow Reuters