Titan to Sell ITM Business in Deal Worth Up to $285 Million
Titan International (TWI) said Monday it agreed to sell its Italtractor ITM undercarriage business to Italy's USCO for an initial $207 million, plus up to $6 million in earnout payments tied to 2026 performance.Titan said the transaction is also expected to generate about $23 million from customary closing adjustments and $49 million in dividends received or expected from ITM, bringing the total cash value to up to roughly $285 million.Titan said it intends to use a portion of the proceeds to reduce existing debt, while also pursuing future acquisitions and partnerships.The deal is expected to close in early January 2027, according to the company.Shares of Titan were up 6.6% in Monday afternoon trading.Price: $7.46, Change: $+0.46, Percent Change: +6.57%
