Titan Tire Corporation, a subsidiary of Titan International Inc. of the United States, paid US$4.4 million in May 19, 2010 for the purchase of some assets of Denman Tire, including company name, tire specifications, and patents. Mold and customer list etc.
Titanic’s acquisition of Denman’s tires does not include any machinery, land and buildings. Denman manufactures specialty tires. In 2008, Denman's sales were 75 million U.S. dollars.
Maurice M.Taylor Jr., chairman and CEO of Titanic Tire, said: "Denman tires will be discontinued in the near future. Titan will complete the transfer of Denman's tire assets and resume production within 30 days to complete the customer's order requirements."
The products of Titian International's holding subsidiaries include wheels, tires and agricultural machinery parts.
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