Titan board approves production of 63-inch mining tyres

Quincy Illinois - Titan International Inc.'s board of directors approved funding for the company to increase its mining tyre production capacity to include 57- and 63-inch giant radial tyres at its Titan Tire facilities. This funding should allow Titan to produce up to an estimated 6000 of these tyres each year.

“We are very excited about this newest venture since there are only two manufacturers in the world that produce 63-inch radial tyres-Michelin and Bridgestone,” said Titan chairman and CEO Maurice Taylor Jr. “This is what it's all about; a small American company going up against two power house foreign companies, one French, the other Japanese."

Titan estimated that sales of 6000 giant radial tyres could increase sales by up to $240 million, or $40 000 per tyre. These tyres are expected to be higher margin products for the company. Titan expects to produce its first 63-inch radial tyre in first quarter of 2008, and be in start-up production by the end of the second quarter.

The approved funding will also allow Titan to build the world's largest 24-foot bull wheel, a specialised wheel used to test tres. The bull wheel will have the capacity to load tyres up to 300,000 pounds (136 tonnes) and run tyres up to 42 miles per hour (68 kph).

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Press release from Titan