QUINCY, Ill. (Sept. 16, 2003)—Titan International Inc.'s stock will not be delisted from the New York Stock Exchange after reaching a 30-day average closing price of $1.90 at the end of trading Sept. 12.
In March, the stock exchange warned Quincy-based Titan that it would be delisted if the stock didn't maintain a minimum share price of $1. Titan's six-month cure period ended Sept. 12, when the stock closed at $2.14. The stock exchange notified Titan that it met the minimum requirements.
“Titan is pleased to have resolved the minimum share price criteria with the NYSE,” said Maurice Taylor Jr., president and CEO. “We appreciate our stockholders recognizing that Titan's book value is approximately three times our stock price.”
Titan manufactures and supplies mounted wheel and tire systems for off-highway equipment in agriculture, earthmoving/construction and consumer applications.