Dealer News: Titan Farm Sales Up 10%, Ag-Pro Acquires Wilson

Titan Machinery reported its second quarter equipment sales were up nearly 15 percent compared to the same period last year. Revenue from farm equipment was up by more than 10 percent. Overall, revenue increased by 11.5 percent.

For the full year, Titan Machinery expects ag and construction equipment sales to be flat to up by 5 percent, while international sales growth is expected to increase by 10 to 15 percent.

Commenting on the solid demand for new machinery, David Meyer, Titan’s chairman and CEO said, “We believe replacement demand is real. We attribute this demand to the extended aging of existing fleets along with the increased yields and productivity associated with the technology and precision of today’s new and late-model used equipment.”

He also said overall, “our farmers continue to maintain strong balance sheets despite the challenges in low commodity prices and fairly flat year-over-year net farm income projections.”

Ag-Pro has acquired Wilson Equipment Co., which is based in Spartanburg, S.C.

Ag-Pro, which is headquartered in Boston, Ga., has 20 dealerships in Georgia, 20 in Texas, nine in Florida, seven in Alabama, and four in South Carolina.

Source: Farm Equipment