QUINCY, Ill. (April 29, 2016) — A special committee of Titan International Inc.'s board has engaged Goldman, Sachs & Co. as financial advisor in connection with the possible sale of Titan's Italtractor ITM S.p.A. (ITM) subsidiary.
Titan said the board of directors committee was formed “to review and analyze” the issues relating to ITM's possible sale. The unit designs and produces steel track and undercarriages for the construction, mining and agricultural markets.
Goldman, Sachs was brought onboard on April 25 as a financial adviser to assist the board in carrying out its responsibilities, according to Quincy-based Titan.
The company said it “does not currently intend to comment further on any possible sale or other transaction involving ITM unless and until a transaction is agreed upon or possible discussions are discontinued.”