We’ve discussed how agriculture is truly a global market, not only for the commodities that are produced but the equipment that is needed for production. Sure, the specs might vary, but it’s still iron and horsepower.
I was reminded recently while reading a news release from Titan Machinery. While Titan is based in West Fargo, North Dakota, it has a sizeable footprint with nearly 100 North American dealerships. But the company also has a presence across the pond.
It has opened two new Case IH dealerships in Cluj and Roman, Romania. This is in addition to the dealerships already established in Romania and Bulgaria. Why Romania? According to the release: “The location will benefit from diverse crops, including corn and barley, among others, and livestock markets. The Roman region in northeast Romania consists of prime agricultural land, due in part to the area’s highly productive soil, known as “black soil.” The area benefits from strong equipment demand due to a large amount of foreign investment in the region.”
The company remains committed to the Upper Midwest. “As we evaluate additional opportunities abroad, we continue to execute on our core growth strategy acquiring dealerships in the upper Midwest,” according to David Meyer, Titan Machinery’s Chairman and CEO.
Where do you see the next growth phase for agriculture to come from?