Titan International Adopts $50M Stock Buyback Plan
Titan International Inc (NYSE: TWI) Board of Directors authorized a share repurchase program for up to $50 million of shares.
The approval will take effect immediately and remain in place for up to three years.
The company will repurchase shares from time to time in accordance with applicable securities laws in the open market and/or in privately negotiated transactions.
A committee of the company's Board of Directors, comprised of Maurice M. Taylor Jr., Paul G. Reitz, and Mark H. Rachesky, has been appointed to supervise the share repurchase program.
Titan manufactures off-highway wheels, tires, assemblies, and undercarriage products.
The company held $116.5 million in cash and equivalents as of September 30, 2022.
Price Action: TWI shares are trading higher by 4.80% at $13.86 on the last check Friday.
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