Titan Tire Acquires Denman Tire

Titan Tire Corporation, a subsidiary of Titan International, Inc., was the highest bidder in Federal Bankruptcy Court for Denman Tire assets, including its name, tire specifications, patents, molds, various bladder tooling, customer lists and other items for approximately $4.4 million.

Denman, a producer of specialty tires, had estimated sales of $75 million in 2008. The purchase did not include any machinery, land or buildings.

“Closing should take place within the next week. Titan plans to move the assets and should be in production within 30 days and able to fill orders for customers,” said Chairman and CEO Maurice Taylor Jr. “This acquisition fulfills some needs in our product range in underground mining and specialty tires.”