Profile: Titan International Inc (TWI.N)

TWI.N on New York Stock Exchange

14.50USD
29 Aug 2014
Price Change (% chg)

$0.06 (+0.42%)
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Volume
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Titan International, Inc. (Titan), incorporated on March 21, 1983, through its subsidiaries, is engaged in the manufacturing of wheels and tires. The Company operates in three segments: agricultural, earthmoving/construction and consumer. Titan produces a range of specialty products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction and consumer markets. Titan’s earthmoving/ construction market includes wheels and tires supplied to the mining industry, while the consumer market includes products for all-terrain vehicles (ATVs) and recreational/utility trailers. The Company’s customers include AGCO Corporation, CNH Global N.V., Deere & Company and Kubota Corporation.

In August 2012, it acquired Planet Corporation Group (Planet). Titan acquired 56% of the Corporation. In December 2012, Titan acquired 100% (Titan Europe).

Agricultural market

Titan’s agricultural rims, wheels and tires are manufactured for use on various agricultural and forestry equipment, including tractors, combines, skidders, plows, planters and irrigation equipment, and are sold directly to OEMs and to the aftermarket through independent distributors, equipment dealers and Titan’s own distribution centers. The wheels and rims range in diameter from 9 to 54 inches. Titan’s agricultural tires range from approximately 1 foot to approximately 7 foot in outside diameter and from 5 to 49 inches in width. The Company offers the added value of delivering a complete wheel and tire assembly to customers.

Earthmoving/construction market

The Company manufactures rims, wheels and tires for various types of off-the-road (OTR) earthmoving, mining, military and construction equipment, including skid steers, aerial lifts, cranes, graders and levelers, scrapers, self-propelled shovel loaders, articulated dump trucks, load transporters, haul trucks and backhoe loaders. The earthmoving/construction market is often referred to as OTR, an acronym for off-the-road. The Company provides OEM and aftermarket customers with a range of earthmoving/construction wheels ranging in diameter from 20 to 63 inches and in weight from 125 pounds to 7,000 pounds. The 63-inch diameter wheel is the manufactured in North America for the earthmoving/construction market. Titan’s earthmoving/construction tires range from approximately 3 feet to approximately 13 feet in outside diameter and in weight from 50 pounds to 12,500 pounds. The Company offers the added value of wheel and tire assembly for certain applications in the earthmoving/construction market.

Consumer market

Titan manufactures bias truck tires in Latin America, provides wheels and tires and assembles brakes, actuators and components for the domestic boat, recreational and utility trailer markets. Titan also offers select products for all-terrain vehicles (ATVs), turf, and golf car applications. Titan produces a variety of tires for the consumer market.

The Company competes with Carlisle Companies Incorporated, GKN Wheels, Ltd., Topy Industries, Ltd, Bridgestone/Firestone, Michelin, Pirelli, Berco and Caterpillar.

Company Address

Titan International Inc

2701 SPRUCE ST
QUINCY   IL   62301
P: +1217.2286011
F: +1217.2287499

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