Thursday, August 02, 2012 10:15:51 AM
Aug 2, 201210:03:00 (ET)
QUINCY, Ill., Aug 02, 2012 (BUSINESS WIRE) -- Titan International, Inc. (TWI, Trade ) has closed on the purchase of Planet CorporationGroup based in Perth, Australia ("Planet"). Titan acquired 56 percent of the Corporation for $22.9 million USD and paid-off their outstanding credit facilities of $10.5 million USD at closing. Planet generated over $75 million USD in sales in the past 12 months and approximately $10 million USD of EBITDA in 2011. Planet includes National Tyres, Acme Wheel and Resource Tyre & Choice Tyre Wholesalers.
Planet is an OTR tire and wheel specialist that manufactures, distributes and services products to customers in the mining, agriculture, construction and earthmoving industries. Planet will be a subsidiary of Titan Mining Services, which was formed recently to build Titan's mining business around the globe. This transaction demonstrates Titan's initiative to grow the OTR tire and wheel business around the globe.
Titan International, Inc., a holding company, owns subsidiaries that supply wheels, tires and assemblies for off-highway equipment used in agricultural, earthmoving/construction and consumer (including all terrain vehicles) applications. For more information, visit www.titan-intl.com .
SOURCE: Titan International, Inc.
Titan International, Inc. Krista Gray Investor Relations (217) 221-4773
Recent TWI News
- Titan International, Inc. Reports First Quarter Financial Performance • PR Newswire (US) • 05/01/2024 08:15:00 PM
- Titan International, Inc. to Announce First Quarter 2024 Financial Results on May 1 • PR Newswire (US) • 04/10/2024 08:15:00 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 09:23:11 PM
- Form SC 13D - General statement of acquisition of beneficial ownership • Edgar (US Regulatory) • 03/07/2024 09:15:13 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 02/29/2024 01:57:57 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/29/2024 12:22:40 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/29/2024 11:04:56 AM
- TITAN INTERNATIONAL, INC. REPORTS FOURTH QUARTER AND FISCAL YEAR 2023 FINANCIAL PERFORMANCE • PR Newswire (US) • 02/29/2024 11:00:00 AM
- Titan International, Inc. Acquires Carlstar Group LLC • PR Newswire (US) • 02/29/2024 11:00:00 AM
- Form 8-K/A - Current report: [Amend] • Edgar (US Regulatory) • 02/28/2024 09:41:44 PM
- Titan International, Inc. to Issue Fourth Quarter 2023 Financial Results on February 29, 2024; Earnings Call Remains Unchanged • PR Newswire (US) • 02/28/2024 09:15:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/13/2024 02:48:29 PM
- Titan International, Inc. to Announce Fourth Quarter 2023 Financial Results on February 28 • PR Newswire (US) • 02/01/2024 09:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/16/2023 09:55:49 PM
- TITAN INTERNATIONAL, INC. TO PARTICIPATE IN NOVEMBER INVESTOR CONFERENCES • PR Newswire (US) • 11/14/2023 09:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/01/2023 08:34:43 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/01/2023 08:26:30 PM
- Titan International, Inc. Reports Third Quarter Financial Performance • PR Newswire (US) • 11/01/2023 08:15:00 PM
- Titan International, Inc. to Announce Third Quarter 2023 Financial Results on November 1 • PR Newswire (US) • 10/10/2023 08:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/18/2023 08:56:45 PM
- TITAN INTERNATIONAL, INC. TO PARTICIPATE IN SEPTEMBER INVESTOR CONFERENCES • PR Newswire (US) • 09/12/2023 08:15:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/05/2023 08:36:35 PM
Avant Technologies Equipping AI-Managed Data Center with High Performance Computing Systems • AVAI • May 10, 2024 8:00 AM
VAYK Discloses Strategic Conversation on Potential Acquisition of $4 Million Home Service Business • VAYK • May 9, 2024 9:00 AM
Bantec's Howco Awarded $4.19 Million Dollar U.S. Department of Defense Contract • BANT • May 8, 2024 10:00 AM
Element79 Gold Corp Successfully Closes Maverick Springs Option Agreement • ELEM • May 8, 2024 9:05 AM
Kona Gold Beverages, Inc. Achieves April Revenues Exceeding $586,000 • KGKG • May 8, 2024 8:30 AM
Epazz plans to spin off Galaxy Batteries Inc. • EPAZ • May 8, 2024 7:05 AM