QUINCY, Ill. (July 17, 2012)—Titan International Inc. has agreed to buy majority control of Planet Corp., a Perth, Australia-based sales and service company specializing in off-the-road tires and wheels that potentially could give Titan access to tire manufacturing capacity in China.
Titan said the purchase price and revenue information will be released upon closing, expected to take place the week of July 23 or before.
Planet Corp. comprises National Tyres, Acme Wheel & Rim Co., Resource Tyre Co. and Choice Tyres Wholesalers, Titan said.
Titan said it is acquiring Planet Corp. in line with its initiative to grow its OTR tire and wheel business globally.