Tuesday, May 25, 2010 Titan Tire purchases Denman Tires Assets
 On Wednesday, May 19th 2010, in Federal Bankruptcy Court, Titan Tire Corporation, a subsidiary of Titan International Inc., was the highest bidder for certain Denman Tire assets, including its name, tire specifications, patents, molds, various bladder tooling, customer lists and other items for approximately $4,4 millions USD. Denman, a producer of specialty tires, had estimated sales of $75 million USD in 2008. The purchase did not include any machinery, land or buildings.
“Closing should take place within the next week. Titan plans to move the assets and should be in production within 30 days and able to fill orders for customers,” said Chairman and CEO Maurice M. Taylor Jr. “This acquisition fulfills some needs in our product range in underground mining and specialty tires. Overall, I believe it was a good investment for Titan and that it will lead to exposure to new customers and drive sales of other Titan products.”
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