Titan Archives - Page 12 of 25 - Tyrepress

Posts

‘Grizz’ Taylor Reports “Good” Q2 at Titan

The chairman and CEO of Titan International has described the second quarter as a “good quarter for a number of reasons. Maurice M. Taylor Jr, a man also known as “The Grizz” – a nickname presumably earned due to his business style rather than a fondness for bears – said “the numbers speak for themselves. If you look at the cash flow you will see that there is about an extra $1 million each quarter in depreciation and amortisation related to the new off-the-road equipment when compared to the same quarters in 2009.”

29th July 2010/by Tyrepress Editors

Titan Buys More Denman Machinery

Titan Tire Corporation, a subsidiary of Titan International, Inc bought a second lot of equipment from the bankrupt Denman tyre. According to information from the United States Bankruptcy Court for the Northern District in Ohio, the judge signed the order approving the sale of the Denman Tire machinery and equipment, including other inventory items, for US$3 million. This pricetag appears to be twice the level of earlier reports linking Titan to a further Denman equipment purchase for $1.5 million.

19th July 2010/by Tyrepress Editors

Titan Makes Two Executive Management Appointments

Two changes to Titan International’s executive management team have been announced by the company’s board of directors. Kent W. Hackamack, vice president of finance and treasurer, has been named executive vice president of corporate development. Hackamack, who joined Titan in 1994 as corporate controller, was appointed vice president of finance and treasurer in 1996. He is a certified public accountant and holds two degrees from Northeast Missouri State University in accounting and computer science. "Titan has been in various negotiations to increase its worldwide footprint in agricultural and mining wheels and tyres. Kent's experience will help us achieve those goals," said chairman and CEO Maurice M. Taylor Jr.

12th July 2010/by Tyrepress Editors

Titan Going After Other Denman Assets

Titan Tire is reportedly bidding to acquire additional assets from the defunct Denman Tire, reports Tire Review. Reports say that Titan bid nearly $1.5 million to acquire some equipment and stock from the bankrupt and dissolved company. No land or buildings are part of the deal.

29th June 2010/by Tyrepress Editors

Titan to Issue Second Quarter Dividend

Titan International, Inc. has approved a quarterly cash dividend of $.005 (one half cent) per common share for the second quarter of 2010. The cash dividend is payable 15 July 2010, to stockholders of record on 30 June 2010.

10th June 2010/by Tyrepress Editors

Titan Introduces ‘ACT’ Wheel for the Mining Industry

Titan Wheel Corporation has introduced its Accelerated Change Technology (ACT) wheel, a design it says allows a service technician to change or rotate the rear tyres on a mine haul truck in a fraction of the time. The system, the manufacturer adds, also enhances safety, reduces service technician fatigue and increases profitability by reducing tyre maintenance downtime.

26th May 2010/by Tyrepress Editors

Last Minute Bid Gives Denman Assets to Titan

Tire Review reports Titan International emerged as the winner among multiple parties seeking to buy some or all of the remaining assets of the defunct Denman Tire. Yesterday, the US Bankruptcy Court approved Titan’s $4.4 million last minute bid to acquire all of Denman’s brands, patents, drawings, molds, recipes and other intellectual property. The assets were auctioned off by the court as part of Denman’s Chapter 7 liquidation.

21st May 2010/by Tyrepress Editors

Taylor, Board Re-Elected by Titan Shareholders

Morry Taylor was re-elected to the Board of Titan International, as was reappointed as chairman and CEO. Shareholders re-elected Taylor to another three-year term on the board at their recent annual meeting. The board then re-elected Taylor as chairman and CEO, and also re-elected Erwin Billig as vice chairman, Kent Hackamack as vice president of finance and treasurer and Cheri Holley as vice president and secretary. (Tire Review)

14th May 2010/by Tyrepress Editors

Titan Looking to Buy Back Debt

Titan International has proposed offering some $150 million in unsecured notes to buy back its 8 per cent senior unsecured notes due 2012 and for “general corporate purposes.” The tender offer was effective 13 May and will remain open until 10 June Titan said in a statement issued 13 May 2010.

14th May 2010/by Tyrepress Editors

Titan Prices on the Rise

Titan Tire Corporation has announced price increases for Titan branded farm and construction tyres and Titan manufactured Goodyear branded agricultural tyres. Increases of up to six per cent will be implemented on June 1. Titan says the rises will “offset rising raw material, energy and transportation costs”, and adds that the prices of certain tyres may rise in excess of six per cent “due to realignment and positioning of the product.”

12th May 2010/by Tyrepress Editors

Titan Announces 6% Price Increase

Titan Tire Corporation, a subsidiary of Titan International, Inc. has announced that it will implement a price increase on Titan branded farm and construction tyres and Titan manufactured Goodyear branded farm tyres effective 1 June 2010. The increase of up to approximately 6 per cent is designed to offset rising raw material, energy and transportation costs, according the company, which points out that “certain tyre prices may rise in excess of 6 per cent due to realignment and positioning of the product.”

10th May 2010/by Tyrepress Editors

Titan Increasing Activities in Canada, Mexico

Upon announcing Titan International’s first quarter 2010 results, company chairman and CEO Maurice M. Taylor Jr. spoke on the company’s direction during the year. “Titan plans to open a facility in Fort MacMurray, Alberta, Canada, by the end of third quarter this year to service our new mining customers, and we plan on embarking on a joint venture in Mexico this year for the distribution of all Titan products,” he stated.

26th April 2010/by Tyrepress Editors

Titan Releases Second-Gen 007 MFT Mining Tyre

Titan Tire Corporation has introduced the second generation of its 007 MFT mining tyre product line. This new product, says the US manufacturer, offers enhanced durability, a more ‘aggressive’ tread pattern, improved heat dissipation and the ability to carry a larger payload. Sizes currently offered in the range include 59/80R63, 53/80R63, 40.00R57 and 27.00R49.

20th April 2010/by Tyrepress Editors

Titan Tire Launches ‘Ultimate’ Skid Steer Tyre

Titan Tire Corporation has introduced the Ultimate tyre – this is the name given to its new range of skid tyres, products the US based manufacturer says have been designed to provide extra long life with up to twice the tread depth of conventional skid steer tyres.

8th April 2010/by Tyrepress Editors

Titan Wheel Awarded for Military Vehicle OEM Supply

Titan Wheel Corporation, a subsidiary of Titan International, has been named as a top-performing supplier by Spartan Motors Chassis. Titan Wheel produces off-highway wheels and rims for Spartan Motors, who supplies defence contractor BAE Systems with Mine Resistant Ambush Protected (MRAP) tactical vehicles. Spartan awarded the top-performing designation to the uppermost four per cent of its more than 300 suppliers. The Spartan award, comments Titan, commends exceptional performance criteria related to quality, delivery, customer support and competitiveness.

31st March 2010/by Tyrepress Editors