Titan posts loss in fourth quarter, sees farm product upswing

QUINCY, Ill. (Feb. 28)—Titan International Inc. lost $8 million during the final quarter of 2000, a result of the economic downturn now affecting manufacturing industries in the U.S., the company said Feb. 27. The Quincy-based tire and wheel maker´s fourth-quarter loss revealed a bigger slide than the same period of 1999, when the company lost $6 million. Net sales fell to $113.4 million during the quarter ended Dec. 31, a 15.6-percent drop from the $134.4 million posted in 1999. Titan did increase sales in its largest sector, the agricultural market, during the fourth quarter, to $65.6 million from $57.8 million in 1999. For the year, the company had a net income of $4.53 million, up from the $11.4 million loss it posted in 1999. Net sales for 2000 were down 7.6 percent to $543.1 million from $588 million.