Titan International Inc. has assembled an engineering team "to not only develop 63-inch tires, but also a new 73.5-inch 15-degree tire and wheel," says Titan Chairman and CEO Morry Taylor.
"We plan to produce sample 63-inch tires in the first quarter of 2008. The 73.5-inch tire will follow."
In May, Titan's board approved funding for the company to increase its giant OTR tire production capacity to include 57-inch and 63-inch radials.
Titan expects to produce up to 6,000 giant OTR tires per year for an anticipated sales return of up to $240 million.
Titan released its second quarter results on July 30. During the second quarter, Titan's sales totaled $210.3 million, a 20% increase over 2Q 2006 levels. Year-to-date, Titan's sales reached an all-time record of $436.6 million.
Titan's second quarter income from operations was $27.3 million versus $22.4 million during the second quarter of 2006.
However, the specialty tiremaker's net income for the second quarter was $5 million, down from $5.6 million for the same period in 2006.
