QUINCY, Ill. (Nov. 25, 2015) — Titan International Inc. has sold the assets of its North American brake and actuator business to Dexter Axle Co., a manufacturer of trailer axles, brakes, hubs and drums based in Elkhart, Ind.
Financial terms of the deal were not disclosed. The brake and actuator business was part of the company's consumer business unit based at the Union City, Tenn., plant Titan acquired from Goodyear in 2011.
Dexter plans to consolidate the acquired assets at its U.S. factories, in Indiana, Georgia, Oklahoma, California and Tennessee.
Titan did not disclose the business's sales. The business was part of Titan's consumer business unit, which reported sales last year of $268 million.
“Dexter has been a leader in this industry for over 50 years and we wish them the best in the integration of the Titan product portfolio into their current offering,” said Titan President Paul Reitz.