Acquisition Adds to Titan's First-Quarter Sales Hike - Tire Review Magazine

Acquisition Adds to Titan’s First-Quarter Sales Hike

(Akron/Tire Review) Titan International is starting to see results from its purchase of Goodyear’s ag tire business, posting first-quarter 2006 net sales of $182.6 million, up 34% from the $136.1 million in sales posted in the same period last year, the company said.

But, while the company’s earnings before taxes were up in the period – $14.3 million this year vs. $12.4 million in 2005 – Titan’s post tax net was down for the first quarter – $8.6 million this year compared to $11.2 million for 2005.

"Titan achieved another first quarter of remarkable sales and profits. Our employees have worked hard, and it is paying off," stated Titan Chairman and CEO Morry Taylor. "Titan is growing and expanding. During the early stages, the company’s acquisition of Goodyear’s North American farm tire assets is proving to be an extremely positive addition to the Titan organization. As always, we stand willing and ready to evaluate acquisition opportunities in off-highway wheels and tires that would further strengthen Titan’s business and performance."

You May Also Like

Kumho Tire USA names new VP of marketing

In her new role, Jessica Egerton will develop and execute integrated marketing and brand awareness programming for Kumho Tire USA.

Kumho-J_Egerton

Kumho Tire U.S.A. has named Jessica Egerton as vice president of marketing. In her new role, Egerton will develop and execute integrated marketing and brand awareness programming for the tire brand, supporting retail and consumers.

Egerton brings to Kumho Tire experience in omnichannel marketing in B2C, B2B and B2B2C in both consumer durables/home goods and automotive, as well as marketing experience from national to independent retailers.

2024 OTR Conference addresses safety, industry growth, training

The 69th OTR Tire Conference was highlighted by the creation of the Tire Recycling Foundation, safety, tire chains, retreading and more.

Dick-Gust-introduction
CMA, Double Coin appoint new regional sales manager

Patrick Etheridge, a Marine Corps combat veteran, will serve as regional sales manager for the mid-south/Rocky Mountain region.

Patrick_Etheridge-1400
BKT awarded as Top Exporter at International Customs Day 2024

The award was presented to BKT because of its commitment to providing products and services to its customers across 163 countries.

BKT-receiving-award-1400
Chapel Hill Tire partners with NCTAP on early automotive education

The partnership provides training and education to high school students through an apprenticeship program.

Chapel-Hill-Tire-New-Location-1400

Other Posts

Understanding hybrid regenerative braking and its impact on brake wear

Hybrid brakes capture kinetic energy through regenerative braking instead of losing it as heat.

TR-Continental-regenerative brake
Yokohama’s Geolandar tires win multiple classes at 2023 King of the Hammers

Yokohama’s Geolandar off-road tires for SUVs and pickup trucks finished first in three classes at this year’s King of the Hammers race.

KOH-Yokohama
Dunlop Motorcycle Tires promotes Chad Geer

Geer will be Dunlop Motorcycle Tires’ new director of MC product, marketing & motorsports.

Chad-Geer-Sumitomo-Dunlop-1400
Gallery: 2024 Off-the-Road Tire conference

Check out some of the highlights from this year’s OTR Tire Conference, featuring speakers on OTR service safety, economic outlooks and other trends.

Matt-White-live-service-group