Titan Archives - Page 16 of 25 - Tyrepress

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Eastland Tire Launches Aussie Unit

Georgia’s Eastland Tire has created an Australian subsidiary and hired Martin Fester as its vice president of sales and marketing for Australia, Southeast Asia, Africa and the Middle East.

Eastland, earlier this year, signed a deal with Titan Tire to buy Titan-produced 57- and 63-inch radial OTR tires.

“The creation of Eastland Tire Australia and the hiring of Martin are significant steps in our goal of becoming a best-in-class supplier of OTR tires on a worldwide basis,” said James Berresse, Eastland president and CEO.

“Australia, Southeast Asia, Africa and the Middle East have vast and significant mining operations and we anticipate filling a portion of the OTR tire needs for the companies with operations in these parts of the world especially in the 40.00R57, 53/80R63 and 59/80R63 tire sizes though our agreement with Titan.” (Tire Review/Akron)

18th July 2008/by Tyrepress Editors

Chinese OTR Imports Set High US Duties

Following two cases filed jointly last year by Iowa-based union workers and Titan Tire Corporation (and supported by Bridgestone), the US Commerce Department has placed up to 210 per cent final duties on OTR tyres imported from China. The ruling demonstrates the body’s belief that prices for the tyres were unfairly low, while David Spooner – the Assistant Commerce Secretary – stated that the exporters had “received government subsidies and sold at below the cost of production in the US.”

OTR imports totalled 15 million in 2006, a sharp increase from the 12.4 million imported in the previous year, leading to the introduction of preliminary duties to combat the alleged “dumping activities” of Chinese tyre importers. The new rates are in the majority of cases lower than the preliminaries, also varying from company to company. In the most extreme case, Xuzhou Xugong Tyre Co saw their preliminary duty dropped from 51.81 per cent to nothing. However many Chinese suppliers will face the full 200 per cent duty.

9th July 2008/by Tyrepress Editors

Titan 63-inch Radial Gets OK

Titan Tire has released its new 63-inch steel-belted radial OTR tyre to full production at its Bryan, Ohio, plant. The 59/80R63 radials will begin full production as of July 7.

“We believe this is the beginning of a change in the specialty tyre and wheel business worldwide,” said Titan Chairman and CEO Morry Taylor. “This tyre should out-perform any tyre out there and we think as production moves forward, we should continue to find more ways to improve these giant tyres.

3rd July 2008/by Tyrepress Editors

Banknotes Remind Titan Employees of US Manufacturing Importance

Titan Wheel Corporation has announced the issuing of a summer bonus to its employees on July 2, 2008. Titan Wheel President Ron Schildt said the total bonus payout for the subsidiary, with locations in Quincy, Illinois, and Saltville, Virginia, is over US$2 million.

Employees at Titan’s facility in Quincy, Illinois will receive a portion of their bonus in $2 notes. “We are fortunate to have a great group of employees who work together for the success of Titan,” said Schildt. “It is important to show appreciation where it counts—in the local economy. As each $2 bill circulates, the community will be reminded that American manufacturing is important to the future of our country.”

2nd July 2008/by Tyrepress Editors

Titan Test 63-Inch Tyre on World’s Largest Bull Wheel

Following the construction of a bull wheel measuring 24 feet in height – the largest of its kind in the world – Titan Tire has begun testing its 63-inch tyre. Built in February 2008, the tyre required an equally imposing piece of testing machinery; a prerequisite more than adequately matched by the corporation’s newest piece of bespoke engineering. The bull wheel is used to run the tyres at varying speeds and loads, allowing the performance of the tyre to be measured in controlled conditions.

The tyre, weighing in at 12,500 pounds (easily exceeding five and a half tons) and measuring 13.5 feet – or just over four metres – is the first of its dimensions manufactured at the firm’s Quincy, Illinois plant. In testing the tyre, the gargantuan bull wheel is loaded with weights approaching 500,000 pounds and used at speeds ascending to 45 mph. The company compares the bull wheel to NASA’s device for testing its handling gear for space shuttles, claiming their wheel is much larger.

30th June 2008/by Tyrepress Editors

Titan Installing New Presses to Increase Farm Radial Capacity

The growing demand for large radial agricultural tyres is behind Titan Tire’s decision to install ten new 130-inch cure presses. Plans are underway to install the equipment by the first quarter of 2009, and the company says that if demand is sufficient, and additional ten presses could be installed in the second quarter of 2009.

30th June 2008/by Tyrepress Editors

Titan International Continues Talks With Titan Europe

Titan Europe Plc’s directors are remaining in talks with Titan International regarding the latter’s possible offer for the remaining share capital of Titan Europe it does not already own. Titan International filed a Preliminary Proxy with the Securities and Exchange Commission Apr. 12, stating that a special meeting of Titan International stockholders would be held to approve the issue of up to 9,000,000 shares of Titan International’s common stock.

In order to reach this step, the company needs to file interim data for both Titan International and Titan Europe through June 30 in a final proxy. This information should be available at the end of July, and then the Titan Europe information must be reconciled with US Generally Accepted Accounting Principles (GAAP). If the information is obtained by the end of July, Titan anticipates it will be able to file a final Proxy with the SEC by the end of August. The stockholders meeting will be held 30 days after the filing of the final proxy to vote on the issuance of up to 9,000,000 shares of Titan International Inc. common stock.

19th June 2008/by Tyrepress Editors

Titan International Announces Stock Split

Titan International announced on June 11 that the company’s Board of Directors approved a five-for-four stock split with a record date of July 31, 2008, and a payable date of August 15, 2008.

“This action is being taken to show our stockholders how much we appreciate their support,” said chairman and CEO Maurice M. Taylor Jr. “We are optimistic that 2008 will continue to be a period of further growth in sales and earnings as we proceed with the implementation of 57- and 63-inch off-the-road tyre production in the third quarter.”

13th June 2008/by Tyrepress Editors

MAK Launches New Wheels

Italian wheel manufacturer MAK used the Essen show to launch a number of new additions to its product range.

The first of these is the Corsa, designed with young customers in mind, hence its sporty appearance and attractive price/quality ratio. The wheel’s 20 spokes give the Corsa a light and modern look; the spokes are slim and tapered and the wheel is presented in a finish known as Ice Titan – dark grey for the rims, high sheen diamond for the spokes.

The Corsa is available for four and five stud fitments, maximising the number of 15″ and above fitments for which the wheel is suitable. It comes in four sizes: 6.5J15″, 7J16″, 7J17″ and 8J17″.

New wheel number two is the MAK Veloce – the name means ‘fast’ – and it boasts a stylish, 10 coupled spoke design with a “satin” finish. The spokes curve slightly and the design of the wheel is graceful and open.

11th June 2008/by Tyrepress Editors

Titan to Implement OEM Price Increase

Titan Tire Corporation has announced plans to implement a price increase for tyres and assemblies supplied to original equipment manufacturers, effective July 1, 2008. The increase will range from 7 per cent to 37 per cent, depending on the tyre, to offset rising costs for natural rubber, bead wire and oil-based material such as synthetic rubber and carbon black. Overall synthetic rubber shortages have also contributed to rising raw material costs, reports Titan.

These OE price increases follow those implemented for the aftermarket, which took effect June 1. Prices for aftermarket Titan, Goodyear and General branded OTR, farm and construction tyres increase between 4 per cent and 34 per cent.

10th June 2008/by Tyrepress Editors

MAK Releases the Corsa

At the recent Reifen Essen show Italy’s MAK released its latest wheel product, the Corsa. The company has designed the Corsa with young customers in mind, hence its sports design and appearance at a price within the budgets of its intended market. As MAK says, the wheel is a good solution for those who looking for a good quality/price ratio.

The wheel’s 20 spokes give the Corsa a light and modern look: the spokes are slim and tapered, and the wheel is presented in a finish known as Ice Titan – dark grey for the rims, high sheen diamond for the spokes. The Corsa is available for 4 or 5 stud fitments, maximising the number of 15-inch and above fitments the wheel is suitable for.

The MAK Corsa is available in the following sizes range: 6,5J15”, 7J16”, 7J17”, 8J17”.

29th May 2008/by Tyrepress Editors

Titan Chooses Board Members, Taylor Remains as Chairman

Titan International shareholders elected Richard Cashin, Albert Febbo and Mitchell Quain to serve as directors with three-year terms. At the subsequent May 15 board of directors meeting, Morry Taylor was re-elected as chairman and CEO, Erwin Billig was re-elected as vice chairman, Ernest J. Rodia as executive vice president and COO, Kent Hackamack as vice president of finance and treasurer, and Cheri Holley as vice president and secretary. (Tire Review/Akron)

27th May 2008/by Tyrepress Editors

Titan Sees Record 1Q Sales, Profit Improvement

Titan International reported “all-time record” first quarter sales of US$253.5 million, up 12 per cent period-to-period compared to 2007’s sales of $226.3 million. Gross profit for first quarter 2008 was $32.3 million, up 19 per cent versus the same period last year, while net income hit $8.1 million, up $10.6 million compared to 2007’s first quarter loss of $2.5 million.

“Titan’s first quarter reached record levels. The growth was spurred by the huge demand in the agricultural market,” said Chairman and CEO Morry Taylor “Increases in grain-based ethanol and soybean-based biofuel has increased commodity prices throughout the ag market.” Taylor said Titan is on schedule to start production of 57- and 63-inch OTR radials in July 2008. “Looking forward, production of these giant OTR tyres will build as equipment is brought online,” he said. “With the new capacity to produce giant OTR tyres and the continued demand in ag, Titan’s sales should remain strong.” (Tire Review/Akron)

30th April 2008/by Tyrepress Editors

Titan to Raise Aftermarket Prices by up to 35%

Titan Tire Corporation has scheduled an increase in prices for aftermarket Titan, Goodyear and General branded OTR, farm and construction tyres, taking effect June 1, 2008. These increases will vary between 4 and 34 per cent, and the decision to implement the new prices is said to have resulted from rising costs for natural and synthetic rubber, carbon black, fabric, energy and transportation.

30th April 2008/by Tyrepress Editors

Titan Gets Deal With Deere

Titan Tire has signed a three-year deal to supply farm tyres to John Deere.

“John Deere has been Titan’s largest customer for years,” said Titan chairman and CEO Morry Taylor, “and we are pleased to enter into this agreement that assures Deere a supply of farm tyres. As the agricultural economy moves forward, the first year value of this contract should exceed over $100 million.” Titan did not specify which types of tyres it would supply, or if the deal included wheels. (Tire Review/Akron)

25th April 2008/by Tyrepress Editors