Titan said the funding will allow it to produce up to an estimated 6,000 giant radial tires per year. Sales could increase as much as $240 million as a result of the new capacity, Titan said. The company will produce its first 63-inch radial tire in the first quarter of 2008 and launch production by the end of the second quarter.
“Titan has assembled a great team, and we believe that we have a better way to produce these giant tires,” said Titan Chairman and CEO Maurice M. Taylor Jr. “We believe radial tires perform better on 15-degree wheels, which is what cars and trucks now utilize. Titan has developed these wheels, and we plan to produce our new tires on a 72.5-inch 15-degree wheel at the same time as we produce 63-inch radial tires.”