Titan International history

After decades of development, the business caught the eye of Firestone, which acquired Electric Wheel in 1957 and used the acquisition to form its steel products division, the division put up for sale a quarter century later.

Among the numerous achievements recorded by Tanenbaum was his acquisition in 1973 of Toronto, Ontario-based Dufferin Steel, a company he renamed Titan Proform.

Tanenbaum decided to push forward with the deal, using Titan Proform to acquire the Quincy facility in 1983 for $6 million, which gave birth to a new company, Can-Am Industries.

In 1986, Goodyear Tire and Rubber Company decided to exit the wheel and rim business, presenting another opportunity to Taylor and Tanenbaum.

Taylor took charge of a $113-million-in-sales company in 1992, and wasted little time spearheading an ambitious expansion drive that would see Titan Wheel diversify and record substantial leaps in its revenue-generating capabilities.

Titan became a publicly traded company on NASDAQ in May of 1993.

In 1997, Taylor reorganized his company to accommodate its new position in the tire business, forming two primary subsidiaries, Titan Wheel Corporation and Titan Tire Corporation, and adopted the more general corporate title of Titan International, Inc., for the entire enterprise.

Strife and anemic financial performance characterized the years following the acquisition spree, beginning with a strike by 670 employees at the company’s Des Moines plant in mid-1998.

By the end of 1999, Titan International had slipped into the black, posting a net loss of $11.4 million on $588 million in revenues.

Franklin, Stephen, “Steelworkers Take Battle with Illinois-Based Titan to Chicago Bank,” Chicago Tribune, May 10, 2000.

Rocha, Jessica, “Brownsville, Texas, Tire Corporation Fined for Employee’s Death,” Brownsville Herald, November 2, 2002.