RANCHO MIRAGE, Calif. (Feb. 21, 2012)—Titan International Inc. plans to start ramping up its Titan Mining Services business this month with sites in Australia, Brazil and Africa to complement the existing service site in Fort MacKay, Alberta.
Titan announced the formation of the mining services business last June, saying it would be able to take advantage of the company's engineering expertise on wheels, tires and track components.
Titan Chairman and CEO Maurice Taylor Jr. told Tire Industry Association Off-The-Road Tire Conference in Rancho Mirage that is “going full bore” into this venture and will be spending a “lot of money” on it. He did not specify Titan's projected investment in setting up the service network, which started last year in the Canadian oil sands mining district in partnership with Saskatoon Wholesale Tire Ltd.
Taylor did not say how many service points Titan expects to open this year, but said the service network would be global, except for Russia.
Taylor said Titan will consider a variety of options for ramping up this business, including start-ups, acquisitions and joint ventures.