Titan International Inc. achieved record sales of $195.5 million during the third quarter, a 25% increase over third quarter 2006 levels. Titan's gross profit also increased from $17.1 million in 3Q 2006 to $18.3 million in 3Q 2007.
Titan Chairman and CEO Morry Taylor credits sales and profit gains to growth in the farm and OTR tire segments.
"The agricultural market for wheels and tires is finally starting to show the growth we've been waiting for since 2006. Orders for wheels and tires are as strong as we've seen since 2004.
"The OTR mining tire business remains strong."
Taylor adds that Titan "should be finishing OTR (tire production) conversion at (the company's) Freeport, Ill., plant during the fourth quarter this year."
Titan also is adding 250,000 square feet to its OTR tire plant in Bryan, Ohio.
