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Titan Exploring Viability of Increased OTR Production

Titan International’s board of directors has opted to take advice from financial management and advisory company Merrill regarding the financial feasibility of expanding OTR tyre production. Titan is considering investing in the production of 57 and 63-inch OTR radial tyres, sizes that are in short supply in the mining industry.

“Titan has the engineering and technical expertise to offer these additional sizes,” said Titan International chairman and CEO Maurice Taylor Jr. “We can help solve the tyre shortage in these large sizes, but first we need to obtain commitments from mining companies. Tyres are often mistaken as a commodity, but they are engineered products.”

The company has calculated the production costs of manufacturing up to 6,000 63-inch tyres per annum, and could start making these tyres next year. Such an undertaking would, however, require the company to invest in larger manufacturing equipment and moulds.

20th April 2007/by Tyrepress Editors

Price Increase for Titan and Goodyear

Titan Tire, subsidiary of Titan International, will increase prices on aftermarket Titan and Goodyear branded farm and construction tyres as of April 1. Prices are anticipated to go up by six per cent on average and according to the company will help offset rising raw material and energy costs and allow Titan to realign its base price listings across brands.

1st March 2007/by Tyrepress Editors

Titan Releases Q4 Figures

Titan has released their fourth quarter 2006 results, and these show a US$69 million, or 71 per cent, increase in net sales for the quarter. Total net sales in this period reached $165.6 million. And during the quarter, in December, Titan completed a $200 million senior unsecured five-year bond offering due January 2012.

1st March 2007/by Tyrepress Editors

Titan Announces Shareholder Offer

Titan International, Inc. announced on February 21 that it has commenced an offer to the holders of its 5.25 per cent senior convertible notes that are due in 2009 to convert their notes into Titan’s common stock at an increased conversion rate. This offer is scheduled to expire at 5 p.m. New York City time on March 20, 2007, unless extended or terminated. As of February 20, 2007, there were US$81.2 million principal amount of convertible notes outstanding.

22nd February 2007/by Tyrepress Editors

Titan Names New Sales and Marketing Head

(Akron/Tire Review) Cara Junkins was promoted to director of sales and marketing for Titan International. Junkins was previously tyre technology manager for Titan, and came to the company from Continental Tire North America where she held a number of research and engineering posts. Junkins will be based in Quincy, Ill., at the Titan Wheel Corp. facility and will focus oin OE accounts.

16th February 2007/by Tyrepress Editors

Titan to Show New Tyres – at Goodyear Meeting

(Akron/Tire Review) In what has to be an industry first, one tyremaker will take the stage at another tyre company’s national dealer meeting to introduce a series of new products. Titan Tire will be on hand at Goodyear’s dealer meeting in Orlando next week, to launch three Goodyear-branded farm and skid-steer tyres.

5th February 2007/by Tyrepress Editors

Titan Alters Conversion Offer for Senior Convertible Notes

Titan International, Inc. has alerted holders of its 5.25 per cent senior convertible notes due 2009 that it will convert their notes into Titan’s common stock at an increased conversion rate. According to financial news media, the notes are currently convertible at a conversion rate of 74.0741 shares of common stock per $1,000 principal amount of notes, or about $13.50 per share. The increased conversion rate is 81 shares per $1,000 principal amount of notes, or about $12.35 per share. As of January 19, 2007, there were $81.2 million principal amount of convertible notes outstanding, according to Titan officials.

23rd January 2007/by Tyrepress Editors

Three New Members For Retread Group

(Akron/Tire Review) TRIB has added three new members, two from Honduras and another from Bangladesh. The new members include Reencauchadora Titan and Distribuidora Barret from Honduras and Excel Retreads Ltd. from Bangladesh. “TRIB continues to grow internationally as more and more companies in the retread industry throughout the world realize that TRIB is the only international retread industry association,” said Harvey Brodsky, TRIB’s managing director.

15th November 2006/by Tyrepress Editors

Jana Partners Purchase Titan Shares

Jana Partners purchased 218,400 shares of Titan International at an average price of $16.90 on 18/19 September, increasing their holdings in the company to approximately 4.499 million shares or a 25.4 per cent stake. According to indiescore.com, the purchase was the first for Jana since the firm “took down” 112,000 shares at an average price of $18.73 on 5/6 June.

22nd September 2006/by Tyrepress Editors

Titan Gets 5-Year Supply Deal With Grove

(Akron/Tire Review) Titan International has signed a five-year deal to supply wheels and tyres to Grove US, maker of mobile hydraulic, truck mounted and industrial cranes. Under the deal, Titan will supply General branded OTR tyres to Grove. “Titan is happy to partner with Grove, a company known for strong, reliable lifting solutions, in this long-term commitment,” said Titan Chairman and CEO Morry Taylor. “The General OTR tyre brand is a leader in the crane industry, and Titan’s wheels are the best in the business. Grove’s customers will benefit from quality equipment, paired with leading American-made Titan assemblies.”

12th September 2006/by Tyrepress Editors

Titan Signs Five-Year Deal with Deere

Titan Tire Corporation, a subsidiary of Titan International, Inc. has entered a new five-year agreement to supply Deere & Company with construction and forestry tyres. With Titan’s recent acquisition of Continental Tire North America, Inc.’s off-the-road (OTR) tyre plant in Bryan, Ohio, Deere’s senior management requested that Titan help them meet tyre demand and overcome shortage challenges, according to an official statement.

18th August 2006/by Tyrepress Editors

Titan and Conti Finalize Bryan Plant Deal

(Akron/Tire Review) Titan International has officially completed the purchase of Continental Tire North America’s OTR tyre plant in Bryan, Ohio. Titan said the purchase price was $53 million. According to Titan, the plant employs 325 people and had 2005 sales of $125 million.

2nd August 2006/by Tyrepress Editors

Union OKs New Contract; Clears Way for Titan Buy

(Akron/Tire Review) United Steelworkers Local 890 approved a new four-year master contract with Titan International, clearing the way for Titan to acquire the Continental Tire North America’s Bryan, Ohio, OTR tyre plant. The contract was ratified during a two-day vote by membership over July 29-30, with more than 80% approving the deal.

1st August 2006/by Tyrepress Editors

Titan, USW Still Working on Contract Details

(Akron/Tire Review) Officials of United Steelworkers Local 890, representing Continental Tire North America’s Bryan, Ohio, OTR tyre plant, say they are close to finalizing agreements that will clear the way for Titan International to buy the facility. As per its contract with the union, before CTNA can sell the plant the USW must settle on a new master contract with the buyer – in this case Titan – presuming the new deal will be at least equal to its current contract.

25th July 2006/by Tyrepress Editors

Taylor Gets Another Term at Titan Helm

(Akron/Tire Review) Morry Taylor was again elected chairman and CEO of holding company Titan International Inc. Stockholders re-elected Taylor and elected new board members at the company 18 May annual meeting, held at Titan’s recently acquired Freeport, Illinois agricultural tyre plant.

1st June 2006/by Tyrepress Editors