Titan International, Inc. has engaged Goldman, Sachs & Co. to advise on the sale of its Italtractor ITM S.p.A. subsidiary on 25 April 2016. The news follows the announcement that the firm had established a special committee of its board of directors to review and analyze the issues relating to the possible sale of ITM. These moves and the language of the legal disclaimers attached to the official statements announcing them suggest Italtractor is now well and truly up for sale.
ITM designs and produces steel track and undercarriages for the construction, mining and agricultural markets. No further comment is expected unless a deal is made or the sale is called off.