Employees at the Titan Wheel Corp. manufacturing facility in Quincy, Ill., will receive a record summer bonus of $2.20 per hour. The average payout will be close to $2,500 per person.
"I would like to congratulate all the Quincy employees," said Titan CEO and President Morry Taylor. "There is not a better team anywhere.
"Every night the talking heads on TV say that manufacturing is dead in the U.S., but the Quincy Titan employees have proven that hard work can build a successful company."
The previous summer bonus high at the Titan plant was $1.45 per hour in 1998.
The stock price of Titan International Inc., Titan Wheel Corp's parent company, closed at $10.55 a share on Friday, July 2. That compares to a 52-week high and low of $10.80 and $1.01, respectively.
