Titan Machinery (NASDAQ:TITN) announced today that it has opened a new Case IH agriculture equipment dealership in Oradea, Romania.
Oradea is located in northwest Romania, near the Hungarian border. The Oradea area benefits from strong equipment demand due to a large amount of foreign investment in the agricultural operations in this region. This dealership will complement the Company’s acquired locations in Bucharest and Timisoara, Romania, as well as its locations in Bulgaria as part of the Rimex acquisition.
David Meyer, Titan Machinery’s Chairman and CEO, said, “We are excited to expand our presence in Eastern Europe with our new store in Oradea. Demand for CNH agriculture equipment is strong in Eastern Europe, and we are pleased to leverage our operating model and dealership experience to capitalize on the global agriculture opportunity. We will continue to selectively evaluate acquisitions and new store openings abroad to complement our core operations in the Upper Midwest.”
About Titan Machinery
Titan Machinery, founded in 1980 and headquartered in West Fargo, North Dakota, is a multi-unit business with mature locations and newly-acquired locations. The Company owns and operates a network of full service agricultural and construction equipment stores in the United States and Europe. Upon the closing of the previously announced Haberer's Implement acquisition, the Titan Machinery network will consist of 95 North American dealerships in North Dakota, South Dakota, Iowa, Minnesota, Montana, Nebraska, Wyoming, Wisconsin, and Colorado, including two outlet stores, as well as 10 European dealerships in Romania and Bulgaria. The Titan Machinery dealerships represent one or more of the CNH Brands (NYSE: CNH), a majority-owned subsidiary of Fiat Industrial (Milan: FI.MI)), including Case IH, New Holland Agriculture, Case Construction, New Holland Construction, Kobelco and CNH Capital. Additional information about Titan Machinery can be found at www.titanmachinery.com.