Correcting and replacing titan machinery announces agreement to
acquire carlson tractor and equipment
Fargo, n.d.--(business wire)--in the first and second paragraphs of release dated april 15, 2011, all references to rosemont, minnesota have been changed to rosemount, minnesota. in the forward looking statements, all references to "abc rental" have been changed to "carlson tractor and equipment." the corrected release reads: titan machinery announces agreement to acquire carlson tractor and equipment acquisition expands construction footprint in minnesota titan machinery inc. (nasdaq:titn) announced today that it has entered into a definitive purchase agreement to acquire carlson tractor and equipment. the acquisition consists of two construction locations in the minneapolis suburbs of rosemount and rogers, minnesota. the acquisition is subject to customary conditions to closing and the acquisition is expected to close during the middle of may, 2011. carlson tractor and equipment was started in 1953 by clifford carlson in hastings, minnesota and moved to rosemount, minnesota in 1956 and expanded to a second location in rogers, minnesota during 2000. this three generation business, currently led by rich and ron carlson, has provided heavy, medium, and light construction equipment, heavy duty land clearing equipment, wood and waste processing equipment, and aggregate processing equipment. the brands include new holland construction, kobelco, kawasaki heavy construction, peterson pacific grinders and chippers, seppi, and barko land clearing equipment, and several lines of crushing and screening equipment. revenues for fiscal 2010 were $13.5 million. david meyer, titan machinery’s chairman and ceo, said, “we are excited about gaining entry to this large metro area and solidifying our new holland ce business in the state of minnesota with the acquisition of carlson tractor and equipment. the carlson family and their team bring a legacy of operating experience and customer relationships in the greater minneapolis area supporting the construction equipment industry. ” about titan machinery inc. titan machinery inc., 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. upon closing of the carlson tractor and equipment the titan machinery network will consist of 83 dealerships in north dakota, south dakota, iowa, minnesota, montana, nebraska and wyoming, including two outlet stores, representing one or more of the cnh brands (nyse:cnh), including case ih, new holland agriculture, case construction, new holland construction, kobelco and cnh capital. additional information about titan machinery inc. can be found at www.titanmachinery.com. forward looking statements certain statements found in this press release may constitute forward-looking statements as defined by section 27a of the securities act of 1933, as amended, and section 21e of the securities exchange act of 1934, as amended. forward-looking statements are based on current expectations and include any statement that does not directly relate to a current or historical fact. such statements are generally identifiable by the terminology used, such as "anticipate," "believe," "intend," "expect," "plan," or other similar words. our forward-looking statements in this release generally relate to the benefits related to the carlson tractor and equipment acquisition and the anticipated closing date of the acquisition. although it is not possible to foresee all of the factors that may cause actual results to differ from our forward-looking statements, such factors include, among others, the timely satisfaction of the considerations to closing the acquisition, integrating the carlson tractor and equipment operations with titan machinery's existing network and those risks described from time to time in our reports to the securities and exchange commission. investors should not consider any list of such factors to be an exhaustive statement of all of the risks, uncertainties or potentially inaccurate assumptions that could cause our current expectations or beliefs to change. stockholders and other readers should not place undue reliance on "forward-looking statements," as such statements speak only as of the date of this release. we undertake no obligation to update publicly or revise any forward-looking statements.
