Titan International Inks Agreement To Sell Its Italtractor ITM Undercarriage Operations To USCO For $207M

Titan International, Inc. (NYSE: TWI) ("Titan" or the "Company"), a leading global manufacturer of off-highway wheels, tires and undercarriage products, today announced that it has entered into a definitive agreement to sell its Italtractor ITM undercarriage business ("ITM") to USCO S.p.A. ("USCO").

Under the terms of the agreement, Titan will receive an initial purchase price of $207 million, plus the opportunity to receive an additional $6 million in earnout proceeds based on ITM's achievement of specified performance criteria for 2026.