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Last €10.03 EUR
Change Today +0.108 / 1.09%
Volume 2.0K
TZ4 On Other Exchanges
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As of 12:55 PM 06/2/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

2701 Spruce Street

Quincy, IL 62301

United States

Phone: 217-228-6011

Fax:

Titan International, Inc. and its subsidiaries manufacture wheels, tires, and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction, and consumer segments. The company offers a range of products that are manufactured in short production runs to meet the specifications of original equipment manufacturers (OEMs) and/or the requirements of aftermarket customers. Segments Agricultural This segment’s agricultural rims, wheels, tires, and undercarriage systems and components are manufactured for use on various agricultural 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 the company’s own distribution centers. The company’s agricultural tires range from approximately 1 foot to approximately 7 feet in outside diameter and from 5 to 49 inches in width. The company offers the added value of delivering a wheel and tire assembly to customers. Earthmoving/Construction This segment manufactures rims, wheels, tires, and undercarriage systems and components for various types of off-the-road earthmoving, mining, military, construction, and forestry equipment, including skid steers, aerial lifts, cranes, graders and levelers, scrapers, self-propelled shovel loaders, articulated dump trucks, load transporters, haul trucks, backhoe loaders, crawler tractors, lattice cranes, shovels, and hydraulic excavators. 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 largest manufactured in North America for the earthmoving/construction market. The company’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 segment. Consumer This segment manufactures bias truck tires in Latin America and light truck tires in Russia; and provides wheels and tires and assembles brakes, actuators, and components for the domestic boat, recreational, and utility trailer markets. The company also offers select products for all-terrain vehicles, turf, and golf cart applications. Marketing and Distribution The company distributes wheels, tires, assemblies, and undercarriage systems directly to OEMs. The distribution of aftermarket tires occurs primarily through a network of independent and OEM-affiliated dealers. The company distributes wheels, tires, wheel and tire assemblies, and undercarriage systems directly to OEMs and aftermarket customers through its distribution network consisting of facilities worldwide. Customers Net sales to Deere & Company in the company’s Agricultural, Earthmoving/Construction, and Consumer segments combined represented 12% of the company’s consolidated revenues for the year ended December 31, 2014. Business Strategy The company’s business strategy is to increase its presence in the segments it serves through its one-stop assembly solutions, including Low Sidewall technology. Its business strategy also includes increasing aftermarket tire business; improving design capacity and new product development; and exploring additional strategic acquisitions. Patents and Trademarks The company has a trademark license agreement with The Goodyear Tire & Rubber Company to manufacture and sell certain tires in North America and Latin America under the Goodyear name. Seasonality Shipments to OEMs in the U.S. and Europe peak during the company’s first and second quarters (year ending December 2014) for the spring planting period, while shipments in Latin America peak during the company's second and third quarter for the fall planting period. Research and Development (R&D) The company’s R&D expenses are expensed as incurred. R&D costs were $14.0 million for the year ending December 31, 2014. History Titan International, Inc. was founded in 1890. The company was incorporated in 1983.

 

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