QUINCY, Ill. (Oct. 25)—Titan International Inc. posted a net loss of $9.5 million in the third quarter ended Sept. 30, but forecasts recovery in its core markets by the first quarter of 2002 with the return of the union work force at its Des Moines, Iowa, farm tire plant. Quincy-based Titan posted sales of $100.5 million in the quarter, down 16 percent from last year. Maurice Taylor Jr., Titan president and CEO, said the company reached milestones during the quarter: the resolution of the 40-month strike by the United Steelworkers local in Des Moines and the securing of two military deals, including a $45 million wheel pact with the U.S. Army representing its largest military contract ever. For the year, Titan has lost a net $13.3 million on sales $356.9 million.
Titan loses $9.5 million in third quarter
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