Arctic Cat Inc. (ACAT 7.68, -0.07, -0.90%) announced today that the company has entered into an agreement with TCF Commercial Finance Canada, Inc., in which TCF becomes the exclusive provider of inventory floorplan financing for Arctic Cat's Canadian dealers.
Financing volume for business equipment purchases grew by 16.7% in July, the largest increase in two years, according to a survey of banks and finance companies.
Net income attributable to Deere & Company was $617.0 million, or $1.44 per share, for the third quarter ended July 31, compared with $420.0 million, or $0.99 per share, for the same period last year.
Media reports that consumer confidence, retail prices, retail sales all increased recently in the U.S., potentially good news for rural lifestyle dealers.
Two John Deere dealerships have merged, creating a company with four locations in Vermont and New York. Hendy Bros. and Giroux Bros. have merged to create a new company, Mountain View Equipment.
India's largest Farm equipment manufacturer, Mahindra & Mahindra (M&M) is planning to scale up its production capacity by over 60% in the next two years to satisfy the growing demand in the agricutural sector.
Briggs & Strattons' fourth-quarter fiscal 2010 reported consolidated net sales of $615.6 million, an increase of $132.9 million or 27.5% from the fourth quarter of fiscal 2009.
Industrial manufacturer Blount International Inc. said it acquired a company that makes farm and ranch equipment for $90 million in cash, which it expected would boost profit next year.
Blount International Inc., which makes chains for chain saws, said Monday that its second-quarter net income more than doubled on a jump in sales, and it raised its expectations for revenue and operating income this year.
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