Titan Machinery Announces Expansion Into Serbia

Tue November 27, 2012 - National Edition
Construction Equipment Guide


Titan Machinery Inc. has entered into a definitive agreement with VAIT D.o.o. to acquire a Case IH dealership in the Vojvodina region of Serbia. The acquisition is expected to close on or around Dec. 14, 2012. David Meyer, Titan Machinery’s chairman and CEO, said, "We are excited to expand our Eastern European operations into Serbia. This acquisition will enable us to further leverage our expanding dealership network in the region, which is strategically located near our existing dealerships in Romania and Bulgaria. We continue to see selective international expansion as a growth platform to complement our core business in the Upper Midwest."

Serbia is contiguous to Romania and Bulgaria, where Titan Machinery’s other international dealerships are located. Serbia is rich in productive farmland, and agriculture represents approximately 11 percent of its total gross domestic product, while the agricultural industry employs 26 percent of the Serbian population. The country’s primary crops are wheat, corn, soybeans, sunflowers, and sugar beets. In its most recently reported fiscal year, the CaseIH dealership being acquired reported revenue of approximately $8.5 million.

Peter Christianson, Titan Machinery’s president and chief operating officer, stated, "Our newly acquired dealership has been serving its market for 10 years and has a knowledgeable and experienced management and sales team. We look forward to working with the team and applying the Titan Machinery operating model to our newest international dealership. We continue to be pleased with our success in finding strong international CNH dealerships to join the Titan Machinery network abroad."




Today's top stories

Arkansas Embarks On Biggest-Ever Highway Construction Program

Kubota Introduces Tech-Forward, 5-Ton Tight Tail U48 Excavator

Excavation Complete on NEBT Project in Washington, D.C.

VIDEO: Increase Efficiency With Versatile Trimble GuidEx Guidance System for Virtually Any Machine Type

WBEs Leave Mark On Kansas City Airport

Registration Opens for GIE+EXPO 2021 as October Event Returns in Person

New $450M Hospital Care Tower Planned Near Downtown Winston-Salem, N.C.

ASV Continues to Grow With 21 New Dealer Locations








ceg-logo ceg-logo ceg-logo ceg-logo ceg-logo