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Titan International: No further investments in Russian operation

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Although Russian tyre maker Voltyre-Prom recently spoke of potential opportunities arising from the war in Ukraine and related international implications, majority shareholder Titan International confirms it will not be investing in this business any time soon. Details of Titan’s relationship with the Russian operation were set out in the US-based firm’s 10-Q financial report for Q1 2022 and further commented on during a teleconference held on 3 May.

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  1. War as a sales opportunity: Titan subsidiary increasing volumes in Russia
  2. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
  3. Titan: Russia-Ukraine war hasn’t impacted global operations
  4. Titan International closes RDIF put option transaction
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OTR Tyres buys Titan International’s Australian wheel business

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Titan International, Inc. has entered into a definitive agreement to sell its Australian wheel business to OTR Tyres, a Western Australia-based tyre, wheel and service provider. It anticipates closing the deal on 31 March 2022.

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Related news:

  1. Titan International net sales up 18% in Q2 2018
  2. Bridgestone finalises Otraco acquisition
  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
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Titan begins CNH Industrial global supply deal

Titan International, Inc. has entered into a three-year agreement to supply various CNH Industrial production sites with agricultural tyres and wheels manufactured at its plants in Europe and the Americas. This supply contract to the manufacturer of the Case IH, New Holland and Steyr agricultural machinery brands is valued at approximately US$400 million, assuming current exchange rates and raw material pricing levels.

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Related news:

  1. Growing agri range: Goodyear tyres back on British soil
  2. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
  3. ‘Supporting the food industry’ – Titan International’s tyre plants stay open
  4. Maurice Taylor: Don’t overlook Titan
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Titan supplying Kubota-branded tyres as OE

Titan International, Inc. has entered into an exclusivity agreement with Kubota Tractor Corporation and Kubota Canada Limited, the Japanese agricultural machinery company’s businesses in North America. The agreement will see Titan Trac Loader II tyres fitted in selected sizes on Kubota products. These tyres will be branded with both the Titan and Kubota names on the sidewall.

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Related news:

  1. ‘Supporting the food industry’ – Titan International’s tyre plants stay open
  2. Titan to Trump: We’re not the Goodyear you want to avoid
  3. Titan appoints new director
  4. Titan International cutting wheel production at its Saltville plant
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Results exceeded expectation: Titan International’s Q3 2021

Titan International reports achieving in Q3 2021 its strongest third-quarter results since 2013. Net sales for the three months to 30 September were up 47.8 per cent year-on-year, to US$450.4 million, and the gross margin rose more than three percentage points, to 13.4 per cent on the back of gross profit amounting to $60.3 million.

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  1. Titan International net sales up 18% in Q2 2018
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  4. Titan International joins Russell 3000 Index
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Titan International joins Russell 3000 Index

Titan International, Inc., manufacturer of the Goodyear Farm Tires range, has become a member of the broad-market Russell 3000 Index, effective after the US market opened on 28 June. Global index provider FTSE Russell added Titan as part of the 2021 Russell indexes reconstitution.

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  1. ‘Supporting the food industry’ – Titan International’s tyre plants stay open
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  4. Titan International postpones ITM listing
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Titan International sells Brownsville, Texas manufacturing plant

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

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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  1. President Trump attacks Goodyear in tweet
  2. Goodyear: Protect our good name – Bad year for the White House tweeter
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  4. ‘Supporting the food industry’ – Titan International’s tyre plants stay open
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‘Supporting the food industry’ – Titan International’s tyre plants stay open

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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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  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
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Titan International sells Wheels India share

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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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  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
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Titan International postpones ITM listing

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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  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
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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.

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

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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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  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
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Titan International net sales up 18% in Q2 2018

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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  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
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Titan International not renewing CFO Froisland’s contract

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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  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
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