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Titan is performing a lot of due diligence

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Titan International Inc.'s management goals for 2014 include the possibility of four acquisitions, according to Chairman and CEO Maurice Taylor.

"In the past few years, Titan International has gone from a North American farm wheel and tire manufacturer to a worldwide manufacturer in farm tires and wheels," he says. "We have also become a big player in the construction of mining wheels, tires and tracks.

"As I stated last October during our third quarter results, some see the glass as half full, others see it half empty. I believe the next few years are going to be very good if you are in the farm and construction industry."

The financial goals for 2014 are as follows:

* revenue of $2.4 billion to $2.7 billion, assuming no further acquisitions;

* EBITDA of $240 million to $270 million."These figures presume pricing and material costs remain flat in 2014," says Taylor. They also don't include possible acquisitions.

“There are currently four acquisitions for which Titan is performing due diligence. If we complete these acquisitions, the maximum additional revenue would be approximately $500 million."

Financial results from a new company, Titan Tire Reclamation Corp. (TTRC), also is expected to boost revenue in 2014. TTRC uses a licensed pyrolysis system to reduce rubber tires to oil, steel and carbon black.

"A single 63-inch tire will convert into more than 500 gallons of oil and generate carbon credits. The recovered oil, carbon black and steel can be recycled into bio-diesel fuel; carbon black into green rubber products and steel into mining components such as bucket teeth.

"This business is a perfect fit for Titan Mining Services," says Taylor. "We expect that many mining companies and contractors in the Canadian oil sands will sign up with TTRC next year due to the importance of recycling tires. After we are up and running with TTRC in Canada, Titan will open up locations in Chile and Australia, where there are large amounts of used 63-inch tires to be recycled."

C. Schon Williams, an analyst withBB&T Capital Markets, rated Titan's stock as "Hold." BB&T Capital Markets is a division of Scott & Stringfellow Inc., a registered broker/dealer subsidiary of BB&T Corp.

"Management appears very optimistic on both revenue and EBITDA growth, despite mounting headwinds in ag machinery, while the acquisition pipeline remains very active," he says.

Titan will be hosting a conference call to discuss 2014 goals at 10 a.m. Eastern Standard Time on Monday, Dec. 2, 2013. To participate in the call, dial (877) 870-4263 in the United States; (885)-669-9657 in Canada; and (412) 317-0790 overseas.

The call will be webcast and accessable at in the "News & Events/Conference Calls" section on the "Investor Relations" page of the website. A replay of the call will be available until Monday, Dec.16, 2013.

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