QUINCY, Ill. (Dec. 16, 2011)—Titan International Inc. has acquired a Los Angeles-based maker of new tire and retread molds and a controlling stake in an Illinois maker of equipment used to make wheels, in order to ensure a steady, reliable source of molds and wheels for its growing farm and OTR tire and wheel businesses.
Titan's newest acquisitions are Ohio Machine & Manufacturing Co. Inc. of Los Angeles and Automation International Inc. of Danville, Ill. Titan previously owned the latter from 1991-97.
Terms of the two transactions, which closed in September, were not disclosed. Titan did not say what share of AAI it bought.
Titan Chairman and CEO Maurice Taylor Jr. disclosed the acquisitions during a conference call with financial analysts Dec. 13, saying both will help Titan accelerate the pace of development in its tire and wheel businesses.
Ohio Machine continues under that name for the time being, Fike said, but eventually it will incorporate the Titan name as well.
Automation Internatonal describes itself as a full engineering and manufacturing facility that designs and produces a variety of automated, flexible welding systems and machine automation. It combines the assets of three long-established firms in this business: Berkeley-Davis Co., Federal Welder and Machine Co. and Swift-Ohio Welder Co.