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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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War as a sales opportunity: Titan subsidiary increasing volumes in Russia

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While other tyre makers are distancing themselves from Russia and moving production capacities elsewhere at present, Titan International Inc.’s subsidiary in Volzhsky, Volgograd Oblast has announced plans to increase its production volumes. Voltyre-Prom, which is majority owned and managed by the Illinois, USA-based off-highway tyre specialist, states that the current situation “opens up new opportunities” for it to increase production volumes and sales.

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  1. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
  2. Titan receives additional settlement put option notice
  3. Titan International closes RDIF put option transaction
  4. Titan: Russia-Ukraine war hasn’t impacted global operations
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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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  1. Titan International net sales up 18% in Q2 2018
  2. Bridgestone finalises Otraco acquisition
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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: Russia-Ukraine war hasn’t impacted global operations

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Voltyre-Prom; Titan International

OTR tyre specialist Titan International, which owns the Voltyre-Prom tyre manufacturing operation in Russia, is bracing itself for “the potential impact of bans, sanction programs, and boycotts…” due to Russia’s recent invasion of Ukraine. However, deep in the detail of Titan’s strong fourth-quarter 2021 reports which were published today (3 March 2022), executives affirm that “the impact of the military conflict between Russia and Ukraine has not had a significant impact on global operations”.

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Related news:

  1. Titan receives additional settlement put option notice
  2. Voltyre-Prom: Key shareholder announces aim to sell stake in tyre maker
  3. Titan International closes RDIF put option transaction
  4. Sanction-hit tyremaker Belshina patriotic amid war in Ukraine
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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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  1. ‘Supporting the food industry’ – Titan International’s tyre plants stay open
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Maurice Taylor: Don’t overlook Titan

On 14 December, Tyrepress.com shared information from sources who anticipate a Yokohama Rubber bid to acquire Trelleborg Wheel Systems. While the parties involved have neither confirmed nor denied such a transaction, the chairman of Titan International Inc. (TWI) has commented on a deal he apparently views as problematic.

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  1. Growing agri range: Goodyear tyres back on British soil
  2. Yokohama offers US$2 billion for Trelleborg Wheel Systems as global off-highway tyre segment consolidates
  3. Yokohama to buy ex-Pirelli commercial/industrial tyre business Prometeon
  4. ‘Planning, communication’ help Trelleborg implement plans during pandemic
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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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Titan International CAO Evans resigns

Titan International has begun the search for a new chief accounting officer after incumbent Amy Evans informed the company on Monday of her intention to leave, effective 4 December. Evans will remain chief accounting officer and a vice president of Titan International until this date. David Martin, the company’s chief financial officer, will then fulfil the remit of chief accounting officer until a successor is appointed.

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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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Goodyear Farm Tires continue to grow in UK through pandemic crisis

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Titan International

Titan International has been manufacturing Goodyear Farm Tires in USA for more than a decade. It returned to the European and UK markets last year after Titan purchased the licence. It has also made a significant investment in new plant and equipment to manufacture tyres specifically for the UK and European markets. Lindsay Hart, tyre sales director at Titan Europe and Goodyear Farm Tires, gave Tyres & Accessories an insight into demand for agricultural tyres during the Covid-19 crisis.

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  1. Growing agri range: Goodyear tyres back on British soil
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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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Blackrock increases Titan International shareholding

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According to a statement filed with the Securities and Exchanges Commission in the USA, investment management firm BlackRock Inc. has increased its shareholding in Titan International from 12.94 per cent to 14.0 per cent. The Schedule 13G form states that BlackRock now owns 8,428,280 shares in Titan International, an increase of 8.16 per cent over the shareholding it previously reported.

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