TITAN INTERNATIONAL, INC. (NYSE:TWI) Files An 8-K Other Events

TITAN INTERNATIONAL, INC. (NYSE:TWI) Files An 8-K Other Events
Item 8.01. Other Events

On October 3, 2019, Titan International, Inc. (the “Company” or “Titan”), through one of its wholly-owned subsidiaries, completed the sale of shares of Wheels India Limited (“Wheels India”) in on-market trades on the National Stock Exchange of India Ltd. The sale reduces the Company’s indirect ownership interest in Wheels India from approximately 34.2% of the outstanding shares of Wheels India to approximately 23.8%. The Company received net proceeds from the on-market trades of approximately $19 million, net of charges, discounts and commissions, which Titan expects to use to pay down outstanding indebtedness. Wheels India is one of the largest global steel wheel manufacturers. A copy of a related press release is attached hereto as Exhibit 99 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
TITAN INTERNATIONAL INC Exhibit
EX-99 2 pressrelease100719ex99.htm EXHIBIT 99 Exhibit Exhibit 99FOR IMMEDIATE RELEASEOctober 7,…
To view the full exhibit click here

Story continues below

About TITAN INTERNATIONAL, INC. (NYSE:TWI)

Titan International, Inc. is a manufacturer of wheels, tires and undercarriage systems and components for off-highway vehicles used in the agricultural, earthmoving/construction and consumer segments. The Company operates through three segments: agricultural, earthmoving/construction and consumer. The Company’s agricultural market includes rims, wheels, tires and undercarriage systems and components manufactured for use on various agricultural and forestry equipment. The Company’s earthmoving/construction market includes rims, wheels, tires and undercarriage systems and components for various types of off-the-road (OTR) earthmoving, mining, military and construction equipment. The Company’s consumer market includes bias truck tires in Latin America and light truck tires in Russia, as well as products for all-terrain vehicles (ATVs).

An ad to help with our costs