QUINCY, Ill. (Oct. 31)—Tire and wheel maker Titan International Inc. had a net loss of $17.7 million during the third quarter on sales of $104.7 million, the company reported Oct. 31. Nearly $10 million of the posted loss was in a reserve related to Titan's investment in Uruguyan tire company Fabrica Uruguya de Neumaticos S.A., the company said. In the third quarter of last year, Titan posted a $9.5 million net loss on sales of $100.5 million. Year-to-date, the company reported net sales of $354.2 million, down less than 1 percent from 2001. The net loss for the first nine months of 2002 was $20.1 million, compared to a $13.3 million loss in the same period last year.
Titan posts loss, sales increase in third quarter
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