Dealer News Update
Titan Machinery announced that three central Nebraska Case IH agricultural equipment dealerships — Toner’s in Grand Island, Red Line Equipment in Broken Bow and Ord Equipment — have joined the company’s network.
The Toner family owned all three dealerships, with partners Dave Zauha in Broken Bow and Larry Mason in Broken Bow and Ord. The three dealerships will retain their current names, the company said.
Titan Machinery, with headquarters in West Fargo, ND, also owns Case IH dealerships in Hastings, Kearney, Lexington and North Platte, as well as nearly 100 other dealerships in other parts of the central states, plus 12 European dealerships in Romania and Bulgaria.
Titan CEO David Meyer said, “The company is excited to have a Case IH store in the same town as the combine manufacturing plant in Grand Island and look forward to integrating the new locations into the company’s network.”
Titan Machinery also announced that it has completed the acquisition of Falcon Power Inc., which consists of two Case construction equipment dealerships located in Phoenix and Flagstaff, AZ.
RDO Equipment Co. announces a partnership with Vanderfield Pty Ltd, an Australian Deere dealer group. Vanderfield was instrumental in bringing cotton pickers into Australia and since 1996. The company’s headquarters location in , has been acknowledged as one of the largest individual Deere dealerships in Australia. Vanderfield sells the complete range of Deere machinery across eight locations.
Cervus Equipment Company has released results for the third quarter of 2012, revenue grew by $47.8 million or 25.6% to $234.7 million when compared to the same quarter of 2011. Same store sales increased $17.6 million or 9.4%. Both operating segments reported increases in revenues with the agricultural equipment segment increasing by 14.1% to $170.6 million and the commercial and industrial equipment segment increasing by 71.2% to $64.1 million.
Rocky Mountain Dealerships has reported financial results for the quarter ending September 30, 2012. The company Increased revenues by 20.8% to $247.5 million (15.2% on a same store basis) while gross profit increased by 19.2% to $39.7 million (16.0% of sales). Matt Campbell, CEO of Rocky said, “An excellent growing season translated into strong earnings for the period. The elimination of the dilution associated with the convertible debentures, coupled with these favorable results, generated record diluted earnings per share for our shareholders this quarter.”
The company also announced that it has completed its previously announced agreement to purchase the Case IH Agriculture dealership assets of Houlder Automotive Ltd. located in Grimshaw and Falher, Alberta.
Other News In news effecting dealers, Lessiter Publications reports that Bobcat is reversing its five year old decision to sell compact tractors as, “a move intended to expand its number one market position in compact equipment.”
In an exclusive statement to Rural Lifestyle Dealer, Bobcat said it is not renewing its OEM agreement with Daedong Industrial to market compact tractors under the Bobcat brand.