QUINCY, Ill. (Oct. 31) — Titan International Inc. plans on taking its Titan Europe subsidiary public by gaining a listing on the AIM market of the London Stock Exchange, the company announced Oct. 31. Titan's board of directors has retained financial services firm Seymour Pierce of London to prepare for the action, including placing on behalf of the company up to 30 million pounds sterling — about $50 million dollars. Titan Europe's annual revenue is about $130 million, and has growth potential as a publicly quoted European company, the U.S. parent firm said. As its largest stockholder, Titan International will also benefit from the growth, using the funds received to strengthen its balance sheet and take advantage of opportunities in the North American market, said Maurice Taylor Jr., Titan president and CEO.
Titan Europe seeks listing on London Stock Exchange's AIM market
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