Titan International looking at potential ITM listing
In February, Titan International disclosed it was “evaluating its strategic alternatives” regarding its Italtractor ITM S.p.A. (ITM) steel track and undercarriage business. It engaged Shore Capital as its financial advisor in carrying out this evaluation. Paul Reitz, the company’s president and chief executive officer, reports that Titan is making “positive progress” with respect to one potential alternative, a public listing within Europe. Titan is currently moving through the diligence phase of this alternative.
“Our original goal of this strategic evaluation, maximising value for our stakeholders, remains on track and we are pleased with the progress that has been made to date,” comments Reitz.