Titan International Announces Definitive Agreement to Sell ITM Undercarriage Business
WEST CHICAGO, Ill., Sept. 21, 2026 /PRNewswire/ — Titan International, Inc. (NYSE: TWI) has announced a definitive agreement to sell its Italtractor ITM undercarriage business to USCO S.p.A. The transaction is expected to generate approximately $285 million in total cash value for Titan.
Key Details of the Transaction:
- Initial Purchase Price: $207 million.
- Potential Earnout: Up to an additional $6 million based on ITM’s performance in 2026.
- Expected Additional Cash Adjustments: Approximately $23 million based on ITM’s financial position at closing.
- Dividends from ITM: Titan has received $38 million in dividends in prior years and anticipates an additional $11 million before closing.
Strategic Benefits:
The sale will allow Titan to concentrate on its core operations in the wheel and tire markets serving agricultural, construction, and consumer segments. This is expected to significantly enhance Titan’s financial position and provide more flexibility for strategic investments.
Remarks:
Maurice M. Taylor, Jr., Chairman of Titan’s Board of Directors, emphasized the success of the deal, highlighting the patience and expertise of Titan’s team under Paul Reitz, President and CEO. Taylor also reflected on the company’s history and expressed optimism about the future, asserting the potential for growth in the manufacturing sector.
Paul Reitz echoed this sentiment, underlining that the transaction allows Titan to focus its resources on growth opportunities while enhancing financial stability.
About ITM:
ITM is a global leader in manufacturing undercarriage components and solutions for diverse applications, including construction and agriculture. The company is noted for its innovations, including sensor technology for monitoring.
Future Plans:
Titan plans to utilize the proceeds from this transaction to reduce debt and explore further growth investments. The deal is expected to close in early January 2027, pending customary regulatory approvals.
Forward-Looking Statements: The press release contains estimates and expectations regarding the transaction that are subject to risks, including regulatory approvals and market conditions.
For more information, visit Titan International, Inc..
SOURCE Titan International, Inc.
