Under the radar – Titan’s latest purchases

Getting things done quietly has never been Titan International's strong suit, so the fact the firm apparently bought out two companies back in September may come as something of a surprise. Tire Review reports that Titan acquired tyre and retread mould maker Ohio Machine & Manufacturing Co. and wheel production equipment maker Automation International Inc. Both deals closed in September, according to chairman and CEO Morry Taylor, who disclosed the deals during a 13 December telephone presentation to financial analysts.

Taylor said the deals were made to give Titan a reliable source for tyre moulds and agricultural and OTR wheels. Specific terms of the deals were not announced.

Related news:

• ‘Screwed up’ – Titan’s Taylor responds to lapsed Goodyear agri deal

• Goodyear Union City plant changes hands for $9M