Titan signs three-year deal with Deere & Co.
Titan International Inc. has announced its subsidiary Titan Wheel Corp. of Illinois has signed a wheel supply agreement with Deere & Co.
The agreement provides Deere with wheel pricing for three years, with the exception of raw material price increases or decreases that will be passed on to Deere, Titan says.
"This is a very beneficial contract for both companies. Deere is ensured uninterupted wheel supply and agreed upon pricing. In exchange, Titan will receive minimum order quantities and more accurate forecasting from Deere to increase productivity," said Maurice Taylor Jr., Titan president and CEO.
"We congratulate the Deere team led by Chairman and CEO Robert Lane on their record year, and the outlook for 2005 remains positive. Titan looks forward to growing with Deere and the rest of the agricultural and construction markets."