WEST CHICAGO, Ill., Jan. 12, 2022 /PRNewswire/ — Titan International, Inc. (NYSE: TWI) (“Titan”) announced today that Titan employees represented by the United Steelworkers (“USW”) have voted to ratify new three-year contracts applicable to Titan’s operations located in Bryan, OH (Local 890), and Freeport, IL (Local 745) and Des Moines, IA (Local 164). The three approved contracts cover approximately 800 USW-represented workers.
“We look forward to moving ahead under these contracts and appreciate working with the leadership of all our unions to finalize a package that is good for all involved,” stated Paul Reitz, Titan’s President and CEO. “Titan’s success in providing our customers with market leading products is based on the strength of our One Titan team, especially the tremendous people in our plants that build them. We want to thank each and every one of our employees for their continued hard work and dedication. I am confident that the approved three-year contracts position Titan for growth and allow us to continue to attract and retain top-notch employees which will solidify our position as a global market leader into the future.”
“The benefits from these contracts begin immediately and reflect our appreciation for the commitment and dedication of our employees during the challenging times in recent years. The new contracts include incentive plans that provide financial rewards for achieving mutually agreed-to plant performance improvements.”
Safe Harbor Statement: This press release contains forward-looking statements. These forward-looking statements are covered by the safe harbor for “forward-looking statements” provided by the Private Securities Litigation Reform Act of 1995. The words “believe,” “expect,” “anticipate,” “plan,” “would,” “could,” “potential,” “may,” “will,” and other similar expressions are intended to identify forward-looking statements, which are generally not historical in nature. These forward-looking statements are based on our current expectations and beliefs concerning future developments and their potential effect on us. Although we believe the assumptions upon which these forward-looking statements are based are reasonable, these assumptions are subject to significant risks and uncertainties. These risk factors include, but are not limited to the effect of the COVID-19 pandemic on our operations and financial performance; changes in the marketplace, including new products and pricing changes by the Company’s competitors; levels of operating efficiencies; the effect of a recession on the Company and its customers and suppliers; risks relating to our manufacturing facilities, including that any of our material facilities may become inoperable. Additional risks and other factors that could cause actual results or events to differ materially from those contemplated in this release are detailed in the Company’s reports on Forms 10-K and 10-Q filed with the Securities and Exchange Commission, especially the disclosures under “Risk Factors” in those reports. These forward-looking statements are made only as of the date hereof. The Company cautions that any forward-looking statements included in this press release are subject to a number of risks and uncertainties, and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, changed circumstances or future events, or for any other reason, except as required by law.
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