Skip to main content
EVENT TRACKER
Keep track of rescheduled, canceled industry events with our COVID-affected event tracker - Powered by Snap Finance
Close
Sister Publication Links
  • Rubber & Plastics News
  • European Rubber Journal
tb-logo
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • OPINION
    • CORONAVIRUS
    • AUTO INDUSTRY
    • BUSINESS/FINANCIAL
    • COMMERCIAL TIRE
    • FACTORY FIXES
    • GOVERNMENT & LAW
    • INTERNATIONAL
    • MOTOR SPORTS
    • NEW PRODUCTS
    • RETAIL TIRES
    • SERVICE ZONE
    • SEMA/AAPEX
    • SMALL BUSINESS
    • TIRE MAKERS
    • SPONSORED CONTENT
    • COVID takes dealers for roller-coaster ride
      A year later, pandemic's full tire industry impact unclear
      Tire Cologne canceled; rescheduled until 2022
      New round of Paycheck Protection Program funding opens
    • DTM switches horses mid-stream; awards race tire contract to Michelin
      Icahn Auto trims fiscal 2020 operating loss despite 14% lower sales
      Oshkosh unit gets contract for new USPS local delivery vehicle
      Sumitomo adds treadwear-detection to 'Sensor Core' toolkit
    • F1 extends Pirelli's supply contract through 2024
      Titan eyes solid recovery in 2021 as ag sector rebounds
      4 Wheel Parts celebrates 60th anniversary with deals, promotions
      CarAdvise partnering with RepairSmith mobile repair services
    • Goodyear joins connected mobility pilot program in Ohio
      Michelin launches high-scrub, weight-sensitive X One Multi T trailer tire
      TRAC Intermodal redirects retread biz 100% in-house
      Giti rolling out range of GT Radial-brand urban/regional truck tires
    • USTMA joins coalition supporting passage of Equality Act
      McMahon's Best-One increases its minimum wage to $15
      Oshkosh unit gets contract for new USPS local delivery vehicle
      Conti recalling 94,000 Conti-, General-, Barum-brand LT/SUV tires
    • F1 extends Pirelli's supply contract through 2024
      Maxam adding multipurpose radial, solid OTR tires
      Goodyear names Patterson to lead Cooper integration efforts
      DTM switches horses mid-stream; awards race tire contract to Michelin
    • F1 extends Pirelli's supply contract through 2024
      DTM switches horses mid-stream; awards race tire contract to Michelin
      Bridgestone World Solar Challenge canceled due to pandemic restrictions
      Pirelli, Goodyear ink sedan racing series contracts in Canada, Europe
    • Snap-on debuts Triton-D10 diagnostic tool with scan, lab scope capabilities
      Maxam adding multipurpose radial, solid OTR tires
      Michelin launches high-scrub, weight-sensitive X One Multi T trailer tire
      Giti rolling out range of GT Radial-brand urban/regional truck tires
    • COVID takes dealers for roller-coaster ride
      Investment groups to acquire Mavis Tire network
      Vogue Tyre offers $75 rebate on set of 4 tires during March
      4 Wheel Parts celebrates 60th anniversary with deals, promotions
    • Snap-on debuts Triton-D10 diagnostic tool with scan, lab scope capabilities
      Pennzoil offering carbon-neutral lubricants for passenger cars
      Washington dealership uses new-school solution for recruiting auto techs
      Marinucci: Customers may ignore dangerous conditions
    • TIA seeking nominations for Tire Industry Hall of Fame
      SEMA survey shows resilient auto aftermarket in 2020
      SEMA scholarships and loan forgiveness now available
      WTC hosting webinar Jan. 20 on load-capacity standards
    • SEMA survey shows resilient auto aftermarket in 2020
      Trade groups oppose minimum wage increase proposal
      New stimulus package fixes PPP loan confusion
      Vaccine may usher sense of normalcy
    • Goodyear joins connected mobility pilot program in Ohio
      Titan eyes solid recovery in 2021 as ag sector rebounds
      Michelin launches high-scrub, weight-sensitive X One Multi T trailer tire
      Goodyear names Patterson to lead Cooper integration efforts
    • Sponsored By Yokohama Tire Company
      7 questions to ask consumers when they need tires for a crossover SUV
      Sponsored By Yokohama Tire Company
      Stocking Tires for Crossover SUVs
      Sponsored By AppointmentPlus
      Three Important Lessons Learned for the Tire Business During a Pandemic
      Sponsored By Yokohama Tire Company
      7 questions to ask consumers when they need tires for a crossover SUV
  • SHOP FLOOR
    • BALANCING
    • DEMOUNTING
    • SAFETY
    • TIRE REPAIR
    • TPMS
    • TRAINING
    • VEHICLE LIFTING
    • WHEEL TORQUE
    • Video: Balancing Tire
      Safety tips for wheel balancing
      An introduction to wheel balancing
      Wheel weights: Balancing form with function
    • Video: Demounting
      Tire changer types, tips and trends
      How to clear rim rust and corrosion
      An introduction to demounting, mounting and inflation
    • Video: Safety
      Customers
      Considerations for shop safety policies
      Introduction: Creating a culture of safety
    • Video: Tire Repair
      Essential tools, materials and equipment for tire repair
      An introduction to tire repair
      How to properly patch a puncture
    • Video: TMPS Service
      The life-saving work of TPMS
      An introduction to TPMS service
      The importance of proper relearn procedures
    • Video: Training
      Internship ideas to attract tech talent
      Choosing the right auto service tech school
      Intro: Finding and training technicians
    • Video:Vehicle Lifting
      The gravity of proper lift points
      Safety essentials when using jack stands
      An introduction to lifts and lift safety
    • Video: Wheel Torque
      The importance of torque specifications
      Introduction to proper wheel installation
      Torque check and recheck recommendations
  • Multimedia
    • VIDEOS
    • PHOTOS
    • PODCASTS
  • Events
    • ASK THE EXPERT
    • LIVESTREAMS
    • WEBINARS
    • SEMA LIVESTREAMS
  • Data
    • DATA STORE
  • Resources
    • DIRECTORY
    • CLASSIFIEDS
  • ADVERTISE
  • DIGITAL EDITION
  • Awards
    • Tire Dealer Humanitarian Award
MENU
Breadcrumb
  1. Home
  2. News
April 21, 2000 02:00 AM

Carlisle buys Titan OE small wheel/tire operations

Brad Dawson, Crain News Service
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    SYRACUSE, N.Y. (April 21, 2000)—Call it "Carlisle and Titan: The Sequel."

    Carlisle Companies Inc. has purchased Titan International Inc.´s original-equipment consumer tire and wheel business, which includes the lawn and garden, all-terrain vehicle and light-duty trailer markets.

    The deal does not affect Titan´s aftermarket operations, and dealers should not be affected at all, said Titan President and CEO Maurice Taylor Jr.

    Titan´s consumer tire unit recorded sales last year of more than $175 million—with a majority derived from original equipment sales—while Carlisle Tire & Wheel had estimated sales of $250 million to $300 million.

    Carlisle put the sales of the portion of Titan´s business it is acquiring at more than $100 million.

    The April 17 announcement comes about seven months after a $600 million merger deal between the two companies, in which Carlisle would have wholly controlled Titan, fell through. Carlisle and Titan agreed to that acquisition on Aug. 4, but the 90-day letter of intent was never renewed, and talks between the two firms dried up by early autumn.

    But this transaction, valued at about $95 million, is a "done deal" and a good business decision for both companies, Mr. Taylor said.

    "Titan and Carlisle have been in talks for quite some time regarding the benefits of combining the small wheel and tire business," Mr. Taylor said. "We finally arrived at a win-win agreement allowing both companies to increase future stockholder value."

    In the cash-for-assets transaction, Carlisle has purchased Titan´s Clinton, Tenn., tire plant and Slinger, Wis., wheel factory, and is leasing Titan´s Greenwood, S.C., wheel facility.

    Clinton—along with Titan´s Brownsville, Texas, plant—is the company´s main producer of ATV and lawn and garden tires, while the Greenwood facility is the largest wheel producer for those markets.

    For Syracuse-based Carlisle, already a market leader in small-to-medium bias-ply off-highway tires and steel wheels, the purchase gives it needed manufacturing capacity, improved wheel-painting technology and expansion into larger tire sizes, the company said.

    "This acquisition enhances our ability to serve our customers with the broadest range of products available in our key market segments and expands our market leadership," said Barry Littrell, president of the company´s Carlisle Tire & Wheel subsidiary, which will encompass the former Titan businesses.

    "We´re excited about the growth opportunities afforded by their extension of our reach into attractive market niches," he said.

    The deal also includes a five-year supply agreement, under which each company will make selected tires for the other. In Clinton, for example, Carlisle will use Titan molds and continue production of some Caterpillar LSW (low sidewall) construction tires, Mr. Taylor said, and distribute them itself.

    Quincy, Ill.-based Titan also has licensed Carlisle to use its LSW technology for lawn and garden and ATV wheels and tires in exchange for royalties on LSW-line sales, he said.

    Titan will exit the OE markets for lawn and garden equipment and ATVs, but will continue to serve the aftermarket. The company will make some of those tires in Brownsville, and will focus on expanding farm and construction tire operations there, in Des Moines, Iowa, and in Natchez, Miss., Mr. Taylor said.

    Dealers who obtain replacement tires from Titan should notice little change as a result of the sale, Mr. Taylor said, except that Titan will be able to offer Carlisle tires as well, broadening its offerings.

    Members of United Steelworkers locals in Des Moines and Natchez have been on strike since 1998. John Peno, president of USWA Local 164 in Des Moines, called the announcement "great news for Titan workers at the affected operations."

    "Assuming the deal actually goes through this time|.|.|.|they will finally be out from under Mr. Taylor and his mismanagement," Peno said.

    He said Mr. Taylor has become desperate as the company´s financial results have declined the past two years, and as a result is selling off Titan´s "only remaining productive tire factory and a sister wheel plant." Titan has been operating with replacement workers in Des Moines and Natchez.

    But Mr. Taylor said those two plants are "cranking up" and looks at the Carlisle deal as nothing but positive.

    Titan, which employs about 5,000 worldwide, posted corporate sales of $588 million in 1999, with losses of $11.4 million.

    Carlisle, which employs about 9,500 worldwide, had record sales of $1.61 billion and earnings of $95.8 million in 1999.

    Letter
    to the
    Editor

    Do you have an opinion about this story? Do you have some thoughts you'd like to share with our readers? Tire Business would love to hear from you. Email your letter to Editor Don Detore at [email protected].

    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Newsletter Center

    Staying current is easy with Tire Business delivered straight to your inbox.

    SUBSCRIBE TODAY

    Subscribe to Tire Business

    SUBSCRIBE
    Connect with Us
    • Facebook
    • LinkedIn
    • Twitter
    • RSS

    Our Mission

    Tire Business is an award-winning publication dedicated to providing the latest news, data and insights into the tire and automotive service industries.

    tb-logo
    Reader Services
    • Contact Us
    • About Us
    • Site Map
    • Industry Sites
    • Order Reprints
    • Customer Service: 877-320-1716
    Partner Sites
    • Rubber & Plastics News
    • European Rubber Journal
    • Automotive News
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    RESOURCES
    • Advertise
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Media Guide
    • Editorial Calendar
    • Classified Rates
    • Digital Edition
    • Careers
    • Ad Choices Ad Choices
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
      • OPINION
      • CORONAVIRUS
      • AUTO INDUSTRY
      • BUSINESS/FINANCIAL
      • COMMERCIAL TIRE
      • FACTORY FIXES
      • GOVERNMENT & LAW
      • INTERNATIONAL
      • MOTOR SPORTS
      • NEW PRODUCTS
      • RETAIL TIRES
      • SERVICE ZONE
      • SEMA/AAPEX
      • SMALL BUSINESS
      • TIRE MAKERS
      • SPONSORED CONTENT
    • SHOP FLOOR
      • BALANCING
      • DEMOUNTING
      • SAFETY
      • TIRE REPAIR
      • TPMS
      • TRAINING
      • VEHICLE LIFTING
      • WHEEL TORQUE
    • Multimedia
      • VIDEOS
      • PHOTOS
      • PODCASTS
    • Events
      • ASK THE EXPERT
      • LIVESTREAMS
      • WEBINARS
      • SEMA LIVESTREAMS
    • Data
      • DATA STORE
    • Resources
      • DIRECTORY
      • CLASSIFIEDS
    • ADVERTISE
    • DIGITAL EDITION
    • Awards
      • Tire Dealer Humanitarian Award