Art’s Way To Purchase Agro Trend

Art’s Way Manufacturing Co., Inc., Armstrong, IA, and Rojac Industries, Inc. announced they have signed a letter of intent. The letter of intent calls for Rojac Industries, Inc. to sell to Art’s Way Manufacturing Co., Inc. the operating assets of its Agro Trend Manufacturing division, an agricultural machinery distributor and manufacturer of snow blowers, trailers, and running gears located in Clifford, Ontario, Canada.

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Mahindra 2013 Tractor Sales Up 30%

Mahindra USA recently reported that retail sales of tractors in fiscal year 2013, grew 30% year-over-year. That represents the company’s highest retail sales to date.

Tractors from Mahindra, which is based in India and entered the U.S. market in 1994, range from 22 hp to 100 hp and are targeted at farms of varying sizes.

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Deadline For Revised I-9 Form

A revised Form I-9, Employment Eligibility Verification, the form that must be completed by all employers to verify the employment eligibility of every new hire, was recently released in the Federal Register and is effective immediately. U.S. Citizenship and Immigration Services (USCIS) has also adopted a revised layout for the form.

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South Carolina Criminalizes “Obamacare”

Gov. Nikki Haley said that South Carolina does not want and cannot afford the president’s plan, “not now, not ever.”

“To that end, we will not pursue the type of government-run health exchanges being forced on us by Washington,” she said. “Despite the rose-colored rhetoric coming out of D.C., these exchanges are nothing more than a way to make the state do the federal government’s bidding in spending massive amounts of taxpayer dollars on insurance subsidies that we can’t afford.”

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This Spring Sees Increased Farm Expenses

The April price index for U.S. farm production inputs, at 234, increased 2.6% from a year ago. USDA reports that indexes for feed, seed, farm machinery and agricultural chemicals increased across all subcategories, with feed concentrates and supplements showing the largest price increase. Indexes for fertilizers and fuel decreased across all subcategories, with gasoline prices showing the largest drop.

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International Standards Groups Meeting Announced

The International Organization for Standardization (ISO) will convene a meeting of its technical committee on tractors and machinery for agriculture and forestry, TC23, and several TC23 subcommittees, for five days of technical discussions related to tractors, safety, sustainability, and equipment compatibility. The meeting is being hosted at the CNH America LLC facility and will take place June 10-14, 2013.

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Kinze Opens First Plant Abroad In Lithuania

Kinze Manufacturing Inc., Williamsburg, IA, is opening its first production plant abroad in Lithuania. The facility will manufacture Kinze row crop planters, contributing to its growing market in neighboring countries including Russia, Ukraine, Czech Republic, Bulgaria and Hungary. Kinze will hire welders, mechanics, CNC operators and other specialists to work in the new plant.

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AGCO Reports First Quarter Results

AGCO reported net sales of approximately $2.4 billion for the first quarter of 2013, an increase of around 5.7% compared to net sales of $2.3 billion for the first quarter of 2012. Excluding unfavorable currency translation impacts of approximately 2.7%, net sales in the first quarter of 2013 increased approximately 8.4%, compared to the first quarter of 2012.

North American sales grew 10.3% in the first quarter of 2013 compared to 2012, excluding the impact of unfavorable currency translation. Elevated levels of farm income in 2012 continued to support industry demand in the first quarter of 2013 from the professional farming sector and produced strong growth for AGCO. The most significant increases were in high horsepower tractors, implements and combines. Higher sales and margin improvement initiatives contributed to growth in income from operations of

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Blount Announces First Quarter 2013 Results

Blount International, Inc., Portland, OR, announced results for their first quarter ended March 31, 2013. Sales in the first quarter were $232.6 million, a 3% increase from the first quarter of 2012. Operating income for the first quarter of 2013 was $19.1 million compared to $13.6 million in the prior year, which included $4.9 million of facility closure and restructuring charge

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Help vehicle dealers fight for rights

The skeptical reader will wonder why dealers don’t just drop one manufacturer and sell for another that is less abusive. This is simply not possible. The manufacturers define sales territories and a dealer can’t simply begin selling another brand without impinging upon another dealer already selling that brand. Automobile dealers rely on a “sole-source supplier.”

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Legislative Update

New Hampshire: The attempt to declare almost every piece of farm equipment our members manufacture as a “motor vehicle” continues in the state of New Hampshire following the state Senate vote 21-Yes, 2-No to pass this major change to contract law. The bill (SB126) has been assigned to a House subcommittee with a work session scheduled for April 25.

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Art’s Way Announces First Quarter Results

Art’s Way Manufacturing Co., Inc., Armstrong, IA, announced its financial results for the three months ended February 28, 2013.

The company’s consolidated net sales for the three-month period ended February 28, 2013 were $8,415,000 compared to $6,312,000 during the same respective period in 2012, a $2,103,000, or 33.3%, increase for the quarter. C

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USDA: World Cotton Production Down 4%

Global cotton production for 2012-2013, is estimated at 119.7 million bales, down 4% from a year earlier, as this month’s USDA reduction for Brazil’s crop is partially offset by an increase for the U.S. Declining production is largely driven by a market environment that favored the cultivation of competing alternatives.

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Dealer News Update

RDO Equipment Co. has opened a new Vermeer location in Eugene, Oregon.

Wells Implement, Inc., a third-generation, family-owned ag equipment dealership based in Plymouth, NE is now a Topcon Precision Agriculture (TPA) dealer.

Titan Machinery Inc. reported financial results for the fiscal fourth quarter and full year ended January 31, 2013.

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Hemisphere Reports 2012 4Q & Year End

For the three months ended December 31, 2012, the company’s agricultural business reported revenues of $10.2 million, an increase of 12% from $9.1 million in the fourth quarter of 2011. Fourth quarter gross margin contribution was 40% or $4.0 million, a decrease compared to 48% and $4.3 million for the fourth quarter of 2011.

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Valmont: First Quarter Up 14%

Valmont Industries, Inc., Valley, NE reported first quarter sales of $819.6 million compared with $717.4 million for the same period of 2012. First quarter 2013 operating income was $118.2 million versus $82.8 million in 2012. First quarter net income was $77.6 million versus $52.3 million in 2012, which resulted in an increase in quarterly diluted earnings per share from $1.96 in 2012 to $2.89 in 2013.

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Omaha Spring Clinic A Success

For those of you who attended this month’s Omaha Spring Clinic at the Hilton Omaha, we thank you for your support of this annual meeting. From our excellent speaker line-up, to our plant tours, we offered all those in attendance a unique opportunity not only to network with their fellow industry men and women, but the time to find new customers through the Supplier Product Showcase and other events.

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Ag Growth CEO Says Russia Will Fuel Rebound

Bloomberg reports that Ag Growth is continuing to expand outside the U.S. and Canada, which currently make up about 80% of the company’s business. “A lot of the progressive corporate farms in the former Soviet Union are looking to North America for proper grain storage because existing storage is antiquated,” said Chief Executive Officer Gary Anderson. “We want to provide it.”

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Senate Adopts Amendment Repealing HSA, FSA Restrictions

“This amendment simply repeals some of the most illogical provisions in the President’s health care law… It does nothing more than give back the flexibility and freedom families need to make health care decisions without government mandates getting in the way. Regardless of intentions, we cannot ignore the negative consequences the implementation of the President’s health care law is having on American families. I’m pleased my amendment received overwhelming bipartisan support.” Sen. Johanns

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Supplier Product Showcase

When planning your schedule for the upcoming Omaha Spring Clinic, be sure to mark Thursday afternoon, from 2:00-5:00 p.m. to attend the Sold Out Supplier Product Showcase. This year’s Showcase, also includes the Showcase Reception from 3:30-5:00 p.m.

Featuring 60 booths, the Omaha Showcase is the place to connect with your current suppliers, or find new business opportunities. For a full interactive exhibitor list, please go to FarmEquip.org/spring_clinic/showcase. We look forward to seeing you at the Sold Out Showcase!

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Art’s Way Reports Fiscal Year Net Income

Art’s Way Manufacturing, Co. Inc., Armstrong, IA, recently announced its financial results for the fiscal year ended November 30, 2012. Total net sales for the company increased 31.9%, from $27.6 million in fiscal year 2011 to $36.5 million in fiscal year 2012. Ward added, “Net sales for our agricultural products segment were up nearly 9.3% due primarily to the acquisition of Universal Harvester Co., Inc.

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