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You are here: Home1 / Paul Reitz

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Titan International sells Brownsville, Texas manufacturing plant

International News

Titan International has completed the sale of its tyre manufacturing plant in Brownsville, Texas facility to an affiliate of commercial real estate firm Phoenix Investors. The one million square feet plant was built in 1997 on 108 acres, and Titan ended tyre production in 2003. It has since leased the site to multiple tenants.

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Related news:

  1. Titan International shares LSW planting test results
  2. Titan International cutting wheel production at its Saltville plant
  3. Looking forward to level playing field – Titan International testifies in duty hearing
  4. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
3rd December 2020/by Andrew

Titan to Trump: We’re not the Goodyear you want to avoid

International News

In order to prevent damage from ‘friendly fire’, Titan International Inc. has issued a statement distancing itself from the spat between US President Donald Trump and the Goodyear Tire & Rubber Company. Titan wants to make it clear that there is absolutely no link between it and the alleged Goodyear diversity training document that’s circulating on the internet.

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Related news:

  1. President Trump attacks Goodyear in tweet
  2. Goodyear: Protect our good name – Bad year for the White House tweeter
  3. US military not swayed by Trump’s call for Goodyear boycott
  4. ‘Supporting the food industry’ – Titan International’s tyre plants stay open
24th August 2020/by Stephen

‘Supporting the food industry’ – Titan International’s tyre plants stay open

Company News, International News

Titan International, Inc., manufacturer of the Titan tyre brands as well as the Goodyear agricultural tyre lines sold in the UK, Europe and North America, says its plants are operating as normal during the COVID-19 crisis. The company describes its decision to maintain production as a “commitment to keeping its US manufacturing facilities operating as normal in order to support the food and agriculture industry.”

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Related news:

  1. Titan to Trump: We’re not the Goodyear you want to avoid
  2. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
  3. Cooper Tires pausing production in North America, considering options in Europe
  4. Growing agri range: Goodyear tyres back on British soil
26th March 2020/by Stephen

Titan International sells Wheels India share

Company News, International News

Titan International, Inc. has reduced its shareholding in steel wheel manufacturer Wheels India Limited. It sold, via a wholly-owned subsidiary, a 10.4 per cent stake in Wheels India on 3 October, thereby dropping its share in the company from 34.2 to 23.8 per cent. Titan International intends to use the net proceeds of approximately US$19 million received from the transaction to pay down outstanding indebtedness.

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Related news:

  1. Looking forward to level playing field – Titan International testifies in duty hearing
  2. Blackrock increases Titan International shareholding
  3. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
  4. ‘Supporting the food industry’ – Titan International’s tyre plants stay open
8th October 2019/by Stephen

Titan International postpones ITM listing

Company News

Concerns about the affect of global trade concerns and Brexit upon Europe’s financial markets have led Titan International to postpone a potential listing of its Italtractor ITM S.p.A. (ITM) business. According to company chairman Maurice Taylor, these factors have impacted the company’s ability to suitably evaluate its strategic alternatives with respect to ITM.

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Related news:

  1. Titan International looking at potential ITM listing
  2. Italtractor ITM for sale? Titan International is considering its options
  3. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
  4. ‘Supporting the food industry’ – Titan International’s tyre plants stay open
11th September 2019/by Stephen

Titan International looking at potential ITM listing

Company News

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.

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Related news:

  1. Titan International postpones ITM listing
  2. Italtractor ITM for sale? Titan International is considering its options
  3. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
  4. ‘Supporting the food industry’ – Titan International’s tyre plants stay open
16th May 2019/by Stephen

Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker

Company News, International News

The Russian Direct Investment Fund (RDIF) has informed Titan International of its wish to relinquish its shareholding in agricultural and industrial tyre manufacturer Voltyre-Prom. The Kremlin-backed sovereign wealth fund, which acquired the tyre maker together with Titan and private equity firm One Equity Partner in 2013, shared its intention via its exercise on 14 November of the settlement put option included within the Voltyre-Prom Shareholders’ Agreement.

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Related news:

  1. Titan receives additional settlement put option notice
  2. Titan International closes RDIF put option transaction
  3. ‘Supporting the food industry’ – Titan International’s tyre plants stay open
  4. Titan acquires Russian tyre maker
22nd November 2018/by Stephen

Titan International net sales up 18% in Q2 2018

Company News

Titan International, Inc. has reported net sales of US$428.9 million for the second quarter of 2018, a 17.7 per cent improvement on last year’s result. Net income applicable to common shareholders for the quarter was $1.0 million, as compared to a loss of $10.3 million in the second quarter of 2017.

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Related news:

  1. Titan 3Q figures show lower sales, but also reduced losses
  2. Titan to reduce employee headcount following disappointing Q1 performance
  3. Titan International increases sales, reduces net loss in Q1 2017
  4. Titan International sells Wheels India share
7th August 2018/by Stephen

Titan International not renewing CFO Froisland’s contract

Career Tracks

James M. Froisland will leave Titan International later this year. The company announced yesterday that the chief financial officer and chief information officer has been informed his employment agreement won’t be renewed once the initial term expires on 5 December 2018.

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Related news:

  1. Titan International board confirms Froisland as CFO
  2. Titan International’s Maurice Taylor stepping down as CEO; Paul Reitz named his successor
  3. Paul Reitz joins Titan International board
  4. Looking forward to level playing field – Titan International testifies in duty hearing
17th April 2018/by Stephen

Titan International reaffirms 2018 business outlook 

Company News

In addition to appointing Paul Reitz its eighth member, the Board of Directors at Titan International has also approved the company’s 2018 strategic and operational plan. Reitz commented that after “working hard to manage our way through three years of a cyclical downturn and then post three consecutive quarters of revenue growth this year,” it was “great to be able to present to our board a 2018 plan that continues to reflect growth across all of our business units.”

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Related news:

  1. Paul Reitz joins Titan International board
  2. Titan International increases sales, reduces net loss in Q1 2017
  3. Titan International looking at potential ITM listing
  4. Titan International postpones ITM listing
12th December 2017/by admin

Paul Reitz joins Titan International board

Career Tracks

At a meeting on 5 December, the Board of Directors at Titan International, Inc. agreed to increase in size from seven to eight directors in accordance with company by-laws, and appointed Paul G. Reitz its eighth member. Titan International states that the company president and chief executive officer was appointed to the board “due in large part to his vision and leadership along with his background and knowledge of the business.”

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Related news:

  1. Titan International’s Maurice Taylor stepping down as CEO; Paul Reitz named his successor
  2. Titan International shares LSW planting test results
  3. Looking forward to level playing field – Titan International testifies in duty hearing
  4. Titan International reaffirms 2018 business outlook 
12th December 2017/by admin

Working through the downturn: Titan International increases net sales, reports $6.5 million loss

Company News

The year-on-year gain in net sales seen at Titan International in the opening quarter of this year has continued in the second. For the three months to 30 June 2017, the manufacturer of off-highway tyres, wheels, assemblies and undercarriage products reports net sales of US$364.4 million, an increase of 10.4 per cent on the second quarter of 2016. Net sales for the first half of the year amount to $721.9 million, up 10.7 per cent from a year earlier.

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Related news:

  1. Titan International increases sales, reduces net loss in Q1 2017
  2. Titan International net sales up 18% in Q2 2018
  3. Titan to reduce employee headcount following disappointing Q1 performance
  4. Titan International postpones ITM listing
4th August 2017/by admin

Titan International increases sales, reduces net loss in Q1 2017

Company News

After 18 quarters of year-on-year declines in a row, Titan International has reported a rise in net sales during the first quarter of 2017. During the three months to 31 March, net sales increased 11.1 per cent to US$357.5 million. A loss was still recorded in the bottom line, however the $10.5 million net loss applicable to common shareholders for the first quarter of 2017 was a 41.4 per cent improvement compared with the first quarter of 2016.

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Related news:

  1. Working through the downturn: Titan International increases net sales, reports $6.5 million loss
  2. Titan International net sales up 18% in Q2 2018
  3. Titan International cutting wheel production at its Saltville plant
  4. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
5th May 2017/by admin

Titan thanks US government for ‘diligence’ in reviewing tyre subsidies

International News

Titan International has commented on the final results of the US Department of Commerce’s (DOC) review of imported OTR tyres from China in 2014 and 2015, which show the Chinese government increased the level of subsidies it gave tyre makers, enabling their products to continue selling in the US market at what the tyre maker calls a less than fair value.

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Related news:

  1. Looking forward to level playing field – Titan International testifies in duty hearing
  2. Show review: Reifen China 2014
  3. NTDA: EC anti-subsidy decision ‘no great surprise’
  4. Chinese truck/bus tyres: US court partially rejects determination
19th April 2017/by admin

Titan International announces conversion of 5.625% convertible notes

Company News

Titan International has announced the conversion of 97.1 per cent of the principal balance of its 5.625 per cent convertible senior subordinated notes (Notes), which matured on 15 January 2017. Prior to maturity, US$60,161,000 in aggregate principal amount of the Notes was outstanding, of which, holders of $58,460,000 in aggregate principal amount of the Notes, or 97.1 per cent, converted their notes into shares of Titan common stock pursuant to the terms of the indenture governing the Notes.

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Related news:

  1. Job cuts continue at loss-making Titan
  2. Looking forward to level playing field – Titan International testifies in duty hearing
  3. Titan International net sales up 18% in Q2 2018
  4. Titan International sells Wheels India share
20th January 2017/by admin
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