Titan chairman sets out ag tire maker’s stall to investors

West Chicago, Illinois - Titan International Inc. chairman Morry Taylor has issued a statement to highlight potential growth for the business and the value of the company’s shares. 

Titan’s agricultural tire business is a market leader in South America, North America and Russia, with long-term plans to become a major player in Europe, he said in a 21 Dec release.

“Over the past number of years the majority of new ag wheel and tire designs have come from Titan,” claimed Taylor, who believes that Titan will have the market’s top selling tire/wheel combination within 15 years.

"In 2022, Titan anticipates global sales above $2 billion, continued the chairman, citing the company’s leadership in world's largest agricultural tire markets: the US, and Brazil. 

This, plus the fact that Titan has the manufacturing capacity to expand without building additional facilities, should significantly reinforce the value of Titan shares, according to Taylor.

Furthermore, Taylor said  the largest companies in the US are starting to realise that “chasing low-wage countries for manufacturing is going to blow up.  Plus, the situation with China has become a big problem across a number of areas.”  

“Now customers need to have supply chains for wheels and tires that can support their factories in the countries where they produce or sell their product.”  

Taylor concluded by noting reports that “some customers want at least half of their wheels and tires produced in the U.S.  There is no other domestic producer who has that kind of capacity beyond Titan.”