Titan International to Sell ITM Undercarriage Business for $285 Million

The transaction includes an initial purchase price of $207 million, supplemented by $49 million in dividends and a potential $6 million earnout tied to 2026 performance metrics. Titan anticipates further cash adjustments of $23 million based on the unit's net asset position at the time of closing. For Titan, the move signals a strategic pivot toward its core wheel and tire operations, allowing the company to reduce debt and prioritize investments in its agricultural and construction portfolios.

Chairman Maurice M. Taylor, Jr. described the sale as a long-term goal that provides the company with the capital flexibility to explore new acquisitions and strengthen its domestic manufacturing footprint. While Titan shifts its focus, ITM will join USCO, a move intended to provide the undercarriage business with dedicated resources for geographic and product expansion. The deal remains subject to regulatory approvals, with both companies continuing their standard operations until the transition is finalized early next year.