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Titan Tire Corporation

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Titan Tire Corporation

Titan Tire Corporation
Industry Tires
Predecessors Dyneer Corporation, Pirelli Armstrong Tire Corporation, Fidelity Tire, Goodyear Farm Tires, Continental AG, Denman Tire
Founded 1993
Founders Maurice M. Taylor Jr.
Headquarters Quincy, Illinois, USA
Number of locations Des Moines, Iowa, USA
Freeport, Illinois, USA
Bryan, Ohio,USA
Union City, Tennessee USA
Sao Paulo, Brazil
Parent Titan International
Website http://www.titan-intl.com/

The Titan Tire Corporation was formed in 1993 by Maurice M. Taylor Jr., the then owner of Titan Wheel, when Titan purchased the Dyneer Corporation, which manufactured various off-road tires. Titan is the third largest manufacturer of off-road tires in North America.[1] They continued expanding their product offering and reach by purchasing the off-road tire assets of Pirelli Armstrong Tire Corporation in 1994. The Titan Tire Corporation was split off as a subsidiary of Titan International () in 1997.[2]

The assets of Fidelity Tire, based in Natchez, Mississippi, was purchased from Bankruptcy Court in 1998, and the company refocused with the sale of its golf-cart, all-terrain vehicle, and lawn tractor tires and facilities in Clinton, Tennessee, and Slinger, Wisconsin to the Carlisle Tire & Wheel Company in 2000.[2]

In 2005, Titan purchased the farm tire business of Goodyear, and continues manufacturing Goodyear agricultural tires under license. This acquisition included the plant in Freeport, Illinois. Titan again expanded in 2006 with the purchase of Continental AG's off-the-road (OTR) tire assets in Bryan, Ohio.[2] Titan acquired it for about $53 million.[3]

In 2010, Titan purchased the assets of Leavittsburg, Ohio based Denman Tire in bankruptcy court for US$4.4 million.[4] This purchase includes the consumer-related tires (on-road) as well, which Titan is considering to divest.[5][6]

In November of 2011 Titan Purchased Goodyear's Union City, TN plant four months after Goodyear closed it. It initially will be used for mixing raw materials for other Titan production facilities. [7]

Titan announced that they have purchased the assets of Goodyear's Latin American off-road tire business for US$98.6 million. This includes the plant in Sao Paulo, Brazil, and a licensing agreement that allows Titan to continue manufacturing under the Goodyear brand, similar to its 2005 purchase of Goodyear's US farm tire assets.[8][9]

Titan has manufactured tires for Caterpillar under the Caterpillar brand since 1999.[2] OEM customers include John Deere, AGCO, Case IH/Case Construction, New Holland, Caterpillar and Kubota.[1]

Titan manufactures under the Titan and Goodyear brands.

References

  1. ^ a b http://www.titan-intl.com/content/titan-tire
  2. ^ a b c d http://www.titan-intl.com/content/about-titan
  3. ^ "Titan Acquires CTNA's OTR Facility". 
  4. ^ http://business-journal.com/denman-tires-assets-sold-for-m-p16517.htm?twindow=Default&smenu=1&mad=No
  5. ^ http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=39975358
  6. ^ http://www.titan-intl.com/content/72110
  7. ^ http://www.commercialappeal.com/news/2011/nov/11/titan-tire-buys-former-goodyear-plant-union-city-t/
  8. ^ http://www.agritica.com/show_news.asp?v=1&jaar=11&id=2453&lang=
  9. ^ http://www.titan-intl.com/content/121310

http://industrytoday.com/article_view.asp?ArticleID=596

External links

  • Titan webpage
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