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Slide #28. Titan Machinery Inc. — Toner's Inc.
Titan Machinery Inc. (NASDAQ:TITN)
Titan Machinery Inc. announced today that it has entered into an agreement to acquire Toner's Inc., which consists of three CaseIH agricultural equipment dealerships located in Grand Island, Broken Bow and Ord, Nebraska. The acquisition is expected to close on or around November 1, 2012.
Titan Machinery owns and operates a network of agricultural and construction equipment stores in the U.S and Europe. Co. operates its business in three segments, Agriculture, Construction and International, within which it engages in four principal business activities: new and used equipment sales, whereby it sells new agricultural and construction equipment; parts sales, whereby it maintains a parts inventory to provide parts and repair and maintenance support to its customers; equipment repair and maintenance services, whereby it provides repair and maintenance services for its customers' equipment; and equipment rental and other activities, whereby it rents equipment to its customers.
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Strong Buy (3.50 out of 4)