Titan plans cutbacks next quarter
Titan International Inc. will cut overtime at its Des Moines, Iowa; Natchez, Miss.; and Brownsville, Texas, Titan Tire Corp. plants during the second quarter, according to company President and CEO Morry Taylor.
The company also may reduce employee work weeks from five days to four days.
"It's a matter of who can get the leanest the fastest," Taylor says. "There's going to be a softening this year; I don't think anybody questions that."
Taylor expects normal operations to resume when business rebounds. "Next year will be better."
Titan's year 2000 net sales totaled $543.1 million, nearly a $45 million drop from 1999. Its net income last year was $4.5 million, a $11.4 million decrease from the previous year.
This month's Kovach Tire Report contains an in-depth look at Titan Tire.