KALAMA, Wash., Feb. 25, 2011 /PRNewswire/ -- Tytan Holdings, Inc. (Pink Sheets: TYTN)
This will be my first time addressing you and I will try to cover the details of what is happening at Tytan. Hopefully I won't spend too much time on one thing and not enough on another.
- We have hired a Manufacturers Representative to handle the NW territory in order to set up Dealers. He has been a very successful sales agent for many years at Dupont Corp. So far, we have 4 Northwest dealers lined up, for both tractors & implements. As we get further along, we plan to provide pictures of dealerships with our products.
- We are interviewing Manufacturers Rep agents for all areas of the United States and Canada. This should be finished within the next 60 days. The Representatives in most cases will be AG reps, already in the business with good customer relationships.
- On January 7 we had Tytan's Inventory observed for the audit, engaging a PCAOB auditing firm.
- Last week the CPSC or Consumer Protection Agency dropped all interest in claims made by Tractorco for a RECALL of our 2005-2007 series of 33 hp. The CPSC had their own engineers investigate the strength and structural concerns. Case is now closed.
- Pictures of our new log splitter attachments that make up the great features of our log splitters, are now posted online. Our goal is to develop every implement in a way that makes us the best.
- Please note that the NEW Tytan Brush Cutter, the biggest selling Implement in the US, is pictured on the Web site. It is built Brute Strong, using 1/4" steel decking and sides. This new Tytan Mower will be tough to match. It comes with protection chains and a clutch on the PTO shaft, while most use just a shear pin.
- The changed Tytan website you are currently seeing is not the one that has been mentioned previously. In the future, both sites will be used for our different marketing groups, they both will be online very soon. Check back on this web site on Thursday or Friday to see something quite new and eye-catching!
- The Judgment in favor of Tytan has now been settled for attorney fee amounts. It is being filed in Tractorco's County for execution.
- Pay close attention to the snow blower comments by a Spokane customer. Next year we are planning to have Representatives all over the USA selling it into the heavy snow areas. Tytan has played a big role in the development of this item and a proto type is now being made for tractors with 70 hp and larger.
- Tytan has a new office person from the Netherlands who has been employed in the AG business. She will help take calls and handle many other jobs. We are preparing a bulk mailing to over 800 previous Customers, explaining the many things we are doing here. Additionally, we will brief them about our stock efforts.
- And here is the big NEWS: JD is currently using the same exact tractor chassis that has been the most popular Tractor in China since 1958. In my opinion, this is the strongest and best built tractor I know of. It was my bread and butter item in the Rhino Tractor Company line up (my previous company), till JD purchased the Benye Tractor factory in China. China is the world's single largest small tractor market. Tytan has entered into an agreement to purchase this exact chassis for sales in the US and Canada. We will of course put our own Fenders, Hood, Rear Fill Fuel Tank, Dual Trax Tires and more on it to create our NEW MODEL. The first sample shipment of completed products is in production now! We will use the same engine that is used in our 334. Check out the NEWS portion of our website for more information. See also : http://www.tytantractor.com/comparison.html
- Tytan is in the final study stages of its first potential NEW store location, located in the Salem, Oregon area. After that we will be aiming for the Kent/Auburn area for our second location. In settling on additional store locations, we are weighing the percentages of business we would get from what we call weekend farmer business (small acreage) and the Commercial Farmer business. Our second consideration is the actual economic strength of the various possible store locations.
That's all for now, however more will be coming in the next few weeks or sooner as things start to finalize.
President of Tytan International
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Tytan Holdings, Inc. and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.
SOURCE Tytan Holdings, Inc.; Tytan International, Inc.