TITAN INTERNATIONAL INC. CHAIRMAN ISSUES NOTE TO SHAREHOLDERS

Rhea-AI Summary

Titan International Chairman Morry Taylor issued a note to shareholders ahead of their June 11th Annual Shareholder meeting, highlighting key developments and opportunities. The company received favorable voting recommendations from ISS and Glass/Lewis. Taylor emphasized potential benefits from President Trump's trade policies and tariffs, particularly regarding tire imports. He referenced Titan's successful 2012 ITC case against Chinese tire imports, which ruled 5-1 in their favor. Titan operates six US tire plants with significant capacity but faces competition from imported tires from China, India, Japan, and Mexico. Taylor suggested that future trade policies could lead to more equipment being fitted with US-made wheels and tires, potentially reducing costs for agricultural equipment while boosting American manufacturing.

Positive

• Proxy advisory firms ISS and Glass/Lewis recommend voting in line with TWI Board recommendations
• Company has significant manufacturing capacity across six US tire plants
• Potential benefits from stricter trade policies and tariffs on imported tires
• Previous success in trade disputes with favorable ITC ruling against Chinese imports

Negative

• Current market flooded with competing tire imports from China, India, Japan, and Mexico
• High legal costs associated with trade disputes and tariff implementation
• Labor-intensive production process for farm and OTR tires compared to auto/truck tires

WEST CHICAGO, Ill., June 9, 2025 /PRNewswire/ -- Titan International, Inc. (NYSE: TWI) ("Titan" or the "Company"), a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, today issued the following note from Chairman of the Board of Directors, Maurice (Morry) Taylor.

Mr. Taylor stated, "We are having our Annual Shareholder's meeting on Wednesday, June 11^th and we welcome you to join us virtually (www.virtualshareholdermeeting.com/TWI2025). Paul Reitz and his team will be in attendance along with members of the Titan Board. This year ISS and Glass/Lewis have recommended TWI shareholders to vote substantially in line with the TWI Board recommendations. The Board of Titan International is thankful and appreciative of this support!"

Mr. Taylor continued, "This meeting is significant for our Shareholders as it's our first since the election of President Trump for another four years.  I know a lot about tariffs and what the US government and the administration are trying to do for American industry, which includes us. Paul Reitz and his team have been involved in the ups and downs in this business for the last 15 years and I see the benefits that tariffs will bring to Titan and its shareholders. The International Trade Court (ITC) in Washington D.C. has six judges, with many being lawyers, and hears all claims regarding tariffs. Titan's first case brought to the ITC on tariffs was against China around 2012 regarding farm and off highway tires coming from China. No one thought we would win, but we did as the court ruled 5 to 1 in our favor.  That's great, but then the USA Commerce Department must determine the duty rates and that took a full year and cost us a lot in legal fees just to get this done. Our country should be thankful that President Trump is tackling what has been going on for too long." 

Mr. Taylor added, "Titan has tire factories in Freeport, IL, Des Moines, IA, Bryan, OH, Union City, TN, Jackon, TN and Clinton, TN. These six tire plants employ wonderful people and have plenty of capacity to meet the needs of the US marketplace. These plants have available tire capacity in the US because our country gets flooded with tires from China, India, Japan and Mexico. Farm & OTR tires are large in size and demand a high number of SKUs to serve the market, therefore they take a lot of manual labor to produce, whereas auto and truck tires can be produced with more automation. There are a lot of Ag tractors that are manufactured overseas and shipped into the US with tires/wheels pre-assembled on the equipment. With President Trump trying to level the playing field and the administration's support, we could see a future where the equipment will be imported into country and then fitted with wheels and tires produced in the USA. The use of tires and wheels produced here will lower the cost of the tractors, combines, and other Ag equipment and increase wheels and tires for American manufacturing." 

Mr. Taylor concluded, "President Trump is correct that American businesses have been getting the short straw for a long time from the rest of the world. He is the champion of the working men and women of this country. GO USA!  I hope to hear from you all at the Shareholder Meeting!"

About Titan

Titan International, Inc. (NYSE: TWI) is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. Headquartered in West Chicago, Illinois, the Company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. For more information, visit www.titan-intl.com.

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SOURCE Titan International, Inc.

FAQ

When is Titan International (TWI) holding its 2025 Annual Shareholder meeting?

Titan International is holding its Annual Shareholder meeting virtually on Wednesday, June 11th, 2025.

How many tire manufacturing plants does Titan International (TWI) operate in the United States?

Titan International operates six tire plants in the US, located in Freeport IL, Des Moines IA, Bryan OH, Union City TN, Jackson TN, and Clinton TN.

What was the outcome of Titan International's 2012 ITC case against Chinese tire imports?

The International Trade Court ruled 5-1 in favor of Titan International regarding their case against farm and off-highway tires imported from China.

What are the main countries Titan International faces competition from in tire imports?

Titan International faces competition from tire imports primarily from China, India, Japan, and Mexico.

What type of tires does Titan International (TWI) manufacture?

Titan International manufactures farm and off-highway wheels, tires, assemblies, and undercarriage products for agricultural, earthmoving/construction, and consumer markets.