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Titan exchanges notes for shares

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Titan International Inc. has finalized a private transaction to exchange $33.8 million of 5.25% senior convertible notes due 2009 into Titan common stock.

The exchange resulted in more than three million shares of Titan common stock issued for the retirement of the notes.

"Titan believes it is advantageous to exchange debt for equity shares in the company," say Titan officials.

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