Nomura Stock Upgraded to Buy by BofA as Stronger ROE and Earnings Growth Boost Outlook 
Kioxia Targets U.S. Listing as AI Chip Boom Accelerates 
Samsung, SK Hynix to Unveil Record AI and Semiconductor Investment Plans Worth Over $646 Billion 
US Judge Seeks Explanation for DOJ’s Decision to Drop Gautam Adani Bribery Case 
Fortescue Faces Class Action Over Sexual Harassment Claims at Australian Mining Sites 
Alibaba Shares Fall After Anthropic Alleges Massive AI Model Distillation Campaign 
OpenAI May Delay IPO to 2027 Amid $1 Trillion Valuation Goal 
Johns Hopkins University Lays Off 110 Employees as Federal Research Funding Declines 
China Eastern Orders 25 Airbus A330neo Jets in $9.35 Billion Deal to Boost International Expansion 
Cerebras Revenue Forecast Tops Expectations, but Margin Concerns Weigh on Stock 
Italy Investigates Microsoft Over Microsoft 365 AI Subscription Price Hike 
SpaceX, Charter Communications Explore Mobile Partnership to Expand Starlink Wireless Service 
Trump Orders DOJ Investigation Into Exxon, Chevron Over High Gas Prices 
Alphabet Replaces Verizon in Dow Jones Industrial Average 
OpenAI IPO Delay Weighs on SoftBank Shares as AI Valuation Concerns Grow 
Samsung and SK Hynix Shares Jump After Micron Earnings Boost AI Chip Optimism 
PORTLAND, Ore., Nov. 18, 2016 -- Blount International, Inc. (“Blount”) and SMA, Inc. (“SMA”) today announced that they have entered into a definitive agreement in which SMA will acquire certain assets of Blount’s TISCO aftermarket parts business.
|
|||
Once the transaction is complete, SMA and TISCO’s combined product offering will be among the broadest in the industry. SMA supplies more than 15,000 agricultural parts, primarily implement replacement parts and accessories, while TISCO offers approximately 16,000 tractor, combine, and agriculture equipment parts. “Customers will definitely benefit from the breadth of the combined product offering and the efficiency of doing business with a single supplier,” said Jerry Johnson, President of Blount’s Farm, Ranch, and Agriculture Division. “The TISCO brand has been part of our family since 1999 and I am excited to watch SMA grow and strengthen its presence in the marketplace.”
SMA is committed to a smooth integration of the business to ensure a seamless customer experience.
“Our acquisition of TISCO will allow us to improve service to our customers in many ways,” said Rodger Hurt, Jr., SMA President. “In particular, service will be enhanced through expanded distribution, more intensive field representation, and of course, added breadth to our product offering. It’s a good fit. TISCO has deep roots as a focused, family-run business, as do we.”
The transaction is expected to close in late December, 2016.
About SMA, Inc.
Founded 1964, SMA is a privately-held company owned by the Hurt family of Jonesboro, Arkansas. Serving farm supply retailers throughout the United States, SMA is a leading supplier of farm implement replacement parts and accessories. Customers are supported by a national network of distribution centers and sales offices strategically located in Jonesboro, Arkansas (headquarters); Corsicana, Texas; Des Moines, Iowa and Fresno, California. Along with industry-leading brands, SMA markets products under the AgSmart, StorSmart, PickSmart, and IceBin labels. For more information about SMA, visit www.smalink.com.
About Blount International, Inc.
Blount is a global manufacturer and distributor of products for consumers and professionals and operates primarily in two market segments: Forestry, Lawn, and Garden (“FLAG”); and Farm, Ranch, and Agriculture (“FRAG”). Blount also serves the construction market. Blount sells its products in more than 115 countries around the world, marketing under the brand names of Oregon®, Carlton®, Woods®, TISCO®, SpeeCo®, CF®, Wain-roy®, Alitec®, Gannon®, ICS®, and Pentruder®. For more information about Blount, visit www.blount.com.
Media Contacts: Blant Hurt, SMA, 870-910-6341, [email protected] Dave Gioia, Blount International, 503-653-8881, [email protected]
