Titan International, Inc. Repurchases 8.0 Million Shares from MHR Fund Management

Core Viewpoint - Titan International, Inc. has successfully repurchased 8.0 million shares of common stock from MHR Fund Management for $57.6 million, representing 11$7.20 per share, indicating confidence in the company's long-term prospects [1][2] Financial Position - Titan's balance sheet is reported to be healthy, with approximately $225 million in cash and a net debt to EBITDA ratio of 1.9 times based on trailing twelve months financial results [1] - The share repurchase was funded through a combination of the company's revolving credit facility and available cash, with no impact on existing share repurchase authorization [1] Market Position and Growth Potential - Titan is recognized as a leading global manufacturer of off-highway wheels and tires, with a unique range and manufacturing capacity that sets it apart in the agricultural sector [2] - The introduction of super-sized Titan LSW single wheels and tires has shown to increase crop yields by around 5% and provide fuel savings of up to 1/3 gallon per acre compared to dual standard tire setups, leading to increased demand from farmers [2] - The U.S. Army is exploring the use of Titan's LSW design for new trucks, with potential production levels of 100,000 units over ten years, presenting a significant opportunity for the company [2]