Tag: Titan International

Titan International postpones ITM listing

11th September 2019 | 0 Comments

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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Growing agri range: Goodyear tyres back on British soil

Growing agri range: Goodyear tyres back on British soil

11th September 2019 | 0 Comments

Grandad fitted Goodyear, your father fitted Goodyear, and now you can too, again: After being largely absent for five years, this year the Goodyear name returned to UK and European agricultural markets.

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Titan International appoints former Deere man Guinn to BoD

24th June 2019 | 0 Comments

Max Guinn has joined the Board of Directors at Titan International, Inc. His appointment took effect 12 June 2019. Guinn was also appointed to serve as a member of the Board’s Audit Committee and as chairman of its Corporate Governance Committee.

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Titan International looking at potential ITM listing

16th May 2019 | 0 Comments

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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Titan International to repurchase up to $25 million in shares

1st April 2019 | 0 Comments

The Board of Directors at Titan International, Inc. has authorised a share repurchase programme that allows up to US$25 million to be spent buying back the company’s common stock. A committee of directors – Maurice M. Taylor Jr., Paul G. Reitz and Mark H. Rachesky – has been appointed to supervise the repurchase programme.

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Italtractor ITM for sale? Titan International is considering its options

27th February 2019 | 0 Comments

After placing its Italtractor ITM S.p.A. (ITM) steel track and undercarriage business on the market some two and a half years ago and receiving seven formal bids from potential buyers, Titan International, Inc. then withdrew ITM from sale in response to the operation’s improving revenue and EBITDA. Now it seems the possibility of divesting ITM is once again under consideration.

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Titan International closes RDIF put option transaction

26th February 2019 | 0 Comments

On 22 February, Titan International Inc. closed the previously-announced transaction with an affiliate of the Russian Direct Investment Fund (RDIF), one of the three shareholders of Voltyre-Prom. Under the terms of a definitive agreement entered into on 11 February, Titan paid RDIF US$25 million in cash and agreed, subject to the completion of regulatory approval, to issue RDIF 4,032,259 shares of restricted Titan common stock in a private placement. The agreement stipulates that RDIF must hold these shares for a period of three years from the date of the agreement.

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Titan receives additional settlement put option notice

15th January 2019 | 0 Comments

Titan International, Inc. has received an additional settlement put option notice From OEP 11 COÖPERATIEF U.A. (OEP), an affiliate of One Equity Partners, one of the three shareholders of Voltyre-Prom, of its exercise, effective 8 January 2019, of the settlement put option with respect to its holdings in Voltyre-Prom, pursuant to the Voltyre-Prom Shareholders' Agreement. 

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

22nd November 2018 | 0 Comments

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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Ag super single tyres to gain ground from tracks – Titan International

Ag super single tyres to gain ground from tracks – Titan International

30th August 2018 | 0 Comments

Will the agricultural market shift towards wheeled 4WD tractors over their tracked counterparts in the years to come? Titan International believes so. It bases this projection upon feedback from US agricultural equipment dealers and their customers, as well as from testing the tyre maker carried out in North America together with dealer group Van Wall Equipment. This showed that super single tyres offer comparable field performance and reduced soil compaction at a much lower cost than tracks.

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Titan International net sales up 18% in Q2 2018

Titan International net sales up 18% in Q2 2018

7th August 2018 | 0 Comments

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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Titan International appoints new CFO

23rd July 2018 | 0 Comments

David A. Martin is the new senior vice-president and chief financial officer at Titan International, Inc. His appointment took effect 14 June 2018, and the tyre maker shares that Martin has also assumed the additional role as the company’s principal financial officer. He reports directly to Paul Reitz, Titan International’s president and chief executive officer.

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Titan International not renewing CFO Froisland’s contract

17th April 2018 | 0 Comments

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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Titan International reaffirms 2018 business outlook 

12th December 2017 | 0 Comments

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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Paul Reitz joins Titan International board

12th December 2017 | 0 Comments

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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