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Press Corporate January 12, 2023

'TYM New Generation' event held, inaugurating the newly integrated North American subsidiary

- TYM North America established on January 1st. TYM shared the new integrated brand message "Together as one," with 320 North American dealers.

- New tractor models with 75, 115, and 130 hp were unveiled and all pre-orders for Q1 2023 were filled.

- TYM sets its sights on becoming a global brand by leveraging the integrated synergy of the North American subsidiary and cross-selling product lineups.

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TYM's American subsidiary TYM-USA completed its integration with Branson on January 1st and was newly established as TYM North America.

Following TYM’s integration with Kukje Machinery in Korea, TYM has completed the integration of its overseas subsidiaries. The newly integrated TYM will facilitate knowledge sharing and services between TYM and the now-defunct Kukje Machinery-Branson. With the integration, TYM expects to create synergy and leap forward as a global brand. To commemorate this new era, TYM held its 2023 National Dealer Meeting (NDM), dubbed '2023 TYM New Generation,' with dealers in the US and Canada. At the event, TYM shared its integrated brand message: “Together as one.”

The NDM was held over three days from the 4th to the 6th at the Orlando World Center Marriott in Orland, Florida to bolster its high market competitiveness with 320 dealers across North America. TYM executives and employees, including Chairman Hiyong Kim and President Dohoon Kim, and more than 500 representatives from 200 dealers attended the event to share their new business directions and visions.

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At the event, TYM introduced a tractor lineup with enhanced performance to meet the diverse needs of the customers in the North American market. In particular, new 75, 115, and 130 horsepower tractors, scheduled to be released in 2023, proved very successful. The unveiling of the new tractors met great demand for the models, with pre-order reservations for the first quarter of 2023 closing early. In addition, TYM exhibited its popular products, including 70 tractors and tractor attachments, equipped with TYM’s proprietary technologies, drawing support and enthusiastic acclaim from dealers.

Above all, the newly expanded lineup now includes numerous 20-130 horsepower tractors and a wide range of products in the low and high horsepower tiers. Overall, TYM is introducing an expanded tractor lineup with new models equipped with 70-130 horsepower engines. TYM explained that it is increasing its focus on the North American market, where there's increased demand for high-powered tractors, which increase grain productivity.

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TYM's $20 million (KRW 25.3 billion) expansion of its Georgia facility is scheduled to begin in the spring and will be completed in the second quarter of 2024. Through this expansion, TYM's North American production capacity will double from the current 50,000 units. Its customer service capabilities will be enhanced as well by expanding the parts warehouse, integrating new parts management systems, and introducing learning centers for on-site or online training for engineers and mechanics. Regarding its goal to become a top three agricultural machinery brand in North America, TYM announced its plans to accelerate the timeline by three years. Representatives elaborated that this will be achieved by promoting customer-centered product development and R&D investments.

"The National Dealer Meeting was an excellent opportunity to promote TYM's status as a leading North American agricultural machinery brand by unveiling its global market strategy and new tractor models," a TYM official said. "We will use this opportunity as a bridgehead to achieve our global objectives."

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