Titan returns to black
QUINCY, Ill.-Titan International Inc. was in the black during the second quarter, posting operating earnings of $4 million and net income of $383,000, the company reported July 25.
The figures compared to an operating loss of $4.56 million and net loss of nearly $4 million posted in the like period of 2001. Net sales for the quarter improved 4.6 percent to $125.8 million. For the half-year, Titan posted a $2.5 million loss on sales of $249.6 million.
Maurice Taylor Jr., Titan president and CEO, credited the turnaround on the improved agricultural market segment; the strength of foreign currencies against the U.S. dollar; and the company's cost reduction, product development and delivery improvements.
Concarb faces second suit
OKLAHOMA CITY-The union representing workers at two Continental Carbon Co. carbon black plants has filed a second federal lawsuit against the company, charging the firm with past and continuing violations of federal hazardous waste laws.
This suit, filed July 23 with the U.S. District Court for the Western District of Oklahoma, alleges violations at Concarb's Ponca City, Okla., plant. The Paper, Allied-Industrial, Chemical and Energy Workers International Union filed a similar suit in Texas June 21, alleging waste law violations at the firm's Sunray, Texas, facility. Members of PACE Local 5-857 in Ponca City have been locked out at the carbon black plant there since May 2001.