Titan International Takes Hit in 2015
Titan International’s 2015 financial results show a down year for the tiremaker. Hit hard were Titan’s sales. The tiremaker reported a sales decrease of 26.4% year over year with $1,394.8 million in 2015 compared to $1,895.5 million in 2014. Gross profit was also down. Titan reported profits of $137.8 million in 2015 versus $140.6 million
Taylor Continues to Head Titan International
Morry Taylor was reelected to lead Titan International as chairman and CEO. Taylor, who has held a primary stockholder position in Titan since the company was formed in 1990, served as president until 2005 when he became chairman and CEO. Taylor, 70, was tapped to head the company during a board of directors meeting held
Titan International Sales Increase 19% in 2013
Titan International reported increases in sales and profit for 2013. The company’s sales increased to $2,163.6 million, up 18.8% in 2013 compared to $1,820.7 million in 2012. Gross profit was $295.2 million, or 13.6% of net sales by Dec. 31, 2013 compared to $294.1 million, or 16.2% by Dec. 31, 2012. Income from operations was
MHR Invests in Significant Chunk of Titan International
A private equity firm – MHR Fund Management – has purchased nearly 5% of Titan International stock and has options to boost its holdings to 10.9%, according to filings from the U.S. Securities and Exchange Commission show. MHR bought 2.6 million shares of the tiremaker’s stock Jan. 9 for roughly $39.5 million. In addition, the
Titan International to Serve as Managing Partner in Voltyre-Prom Acquisition
Titan International, in partnership with One Equity Partners (OEP) and the Russian Direct Investment Fund (RDIF), has acquired the majority interest in Voltyre-Prom for approximately $94 million. Titan will act as the managing partner for the consortium. “We are excited to be part of a consortium with RDIF and OEP which allows us to enter
Titan International Closing on Titan Europe Buy
With its third quarter financial results press release, it was learned that Titan International has successfully landed Titan Europe in a stock swap deal. "The most exciting news for the period is receiving shareholder acceptance to acquire Titan Europe," said Titan International chairman and CEO Morry Taylor. "In fact as you read this, I am
Titan International Closer to Taking Over Titan Europe
Titan International Inc. said Friday that it has received valid acceptances for 87.24% of its offer for Titan Europe shares, making the offer "unconditional in all respects." The U.S. tire and wheel producer said the offer will remain open to Titan Europe shareholders until Oct. 19. On or around that date, the new Titan International
Titan International Files Titan Europe Share Offer
to 6,240,833 new common shares to Titan Europe shareholders in connection with the company’s offer for Titan Europe. The deal offers Titan Europe shareholders one new share of Titan International common stock for every 11 Titan Europe shares held. Basedon the closing exchange rate of 1 pound per $1.6016 and the closing stock priceof Titan
Titan International Offering $181 Million for Titan Europe Shares
Titan International is proposing an all-share offer for Titan Europe valued at more than $180 million.