Mar 21, 2017
Titan International reports production and net losses for the fourth quarter and for 2016 as a whole, but the company's management is confident that the financial indicators have reached the bottom and that in the future the situation will improve.
Titan's financial production losses for 2016 amounted to $ 21.3 million, or about 1.7% of net sales. Net losses decreased to $ 36.1 million.
Sales at the same time decreased by 9.3%, to $ 1.27 billion per year. At the same time in the fourth quarter, the indicators were at the level of the same period of 2015.
As the president and CEO of Titan Paul Reitz, the management of the company as a whole fairly achieved results, despite the decline in sales compared with the peak performance of 2013.
The company expects an increase in demand for LSW tires and invests in expanding its production facilities at its plant in Brazil.