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Titan International Inc. Message Board

  • frixley frixley Jul 27, 1999 11:14 PM Flag

    Real Encouraging News

    Earlier this week we read that Titan may not
    proceed with his promised $10million expansion in
    Mississippi because of the potential loss of a $10,000 tax
    benefit. Things must be tough. Does Mr. Taylor need the
    cash to repay Condere's creditors? I don't think that
    has been done yet.

    On July 27, the Brownsville
    Herald (www.brownsvilleherald.com) reported that the
    Texas factory-recently completed at a cost I would
    imagine of more than $40million--is closing until
    October. Not many companies that I know that can get away
    with a mistake that big. This is the one million
    square foot tire plant Titan said would be operational
    in 1996 or 1997 and would give the company almost
    unlimited tire capacity. I suspect that Taylor discovered
    that a new tire plant needs more than a lot of hot air
    to get going. Probably having a tough time making
    good, saleable tires. Wonder if those less than
    marketable tires are in the finshed products inventory or
    have they been written off as junk? At this rate, even
    a penny a share seems unattainable during the third
    quarter.

    Anyone willing to give odds on the reopening day of the
    Brownsville factory? My money says not in this century,
    perhaps, but not certain, sometime in the next.

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