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15. April 2007

Titan´s 2006 sales increased after acquisitions

Titan International Inc., Quincy, IL, USA, posted double digit increase of its sales for the fourth quarter and year in 2006 mostly due to contributions from its farm and off-the-road tire sales purchased from Goodyear and Continental respectively.

Despite the sales gains, Titan posted a net loss in the fourth quarter of USD9.54million compared with a net loss of USD5.54million for the prior period. The full year ended in the black at USD5.14million, but the result is 53.4% down from the 2005 net income of USD11million.

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