TITAN INTERNATIONAL, INC. RATIFIES FOUR YEAR UNION CONTRACT WITH UNITED STEELWORKERS

Rhea-AI Summary

Titan International (NYSE: TWI), a global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products, has announced the ratification of new four-year contracts with United Steelworkers (USW) employees at three locations: Bryan, OH (Local 890), Freeport, IL (Local 745), and Des Moines, IA (Local 164).

The contracts, which are effective immediately, maintain many aspects of the previous agreements while including changes that acknowledge employee dedication. According to CEO Paul Reitz, the agreement benefits all parties and will help Titan attract and retain employees while positioning the company for growth and maintaining its global market leadership.

Positive

• Successful ratification of four-year labor agreements across three major facilities
• Labor stability secured for medium-term operations
• Maintained positive relationship with United Steelworkers union

Negative

• None.

WEST CHICAGO, Ill., Jan. 21, 2025 /PRNewswire/ -- Titan International, Inc. (NYSE: TWI) ("Titan" or the "Company"), a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products announced today that Titan employees represented by the United Steelworkers ("USW") have voted to ratify new four-year contracts applicable to Titan's operations located in Bryan, OH (Local 890), Freeport, IL (Local 745) and Des Moines, IA (Local 164). 

"We are pleased to announce the negotiation and ratification of a new four-year contract that is a win for all parties involved," stated Paul Reitz, Titan's President and CEO.  "This agreement is a testament to the hard work and dedication of both the USW and Titan management teams.  The tremendous folks in our plants who build our market leading products are critical to Titan's success in meeting and exceeding the needs of our customers.  I believe that the approved four-year contracts will enable us to continue to attract and retain a strong employee base that positions Titan for growth and also solidify our position as a global market leader into the future.

The new contracts are effective immediately and are similar to our prior contracts in many aspects with changes that reflect our appreciation for the commitment and dedication of our employees."

About Titan

Titan International, Inc. (NYSE: TWI) is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. Headquartered in West Chicago, Illinois, the Company globally produces a broad range of products to meet the specifications of original equipment manufacturers (OEMs) and aftermarket customers in the agricultural, earthmoving/construction, and consumer markets. For more information, visit www.titan-intl.com.

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SOURCE Titan International, Inc.

FAQ

What are the key terms of TWI's new union contract with United Steelworkers?

The new four-year contract maintains many aspects of previous agreements while including changes to reflect employee dedication, covering operations in Bryan, OH, Freeport, IL, and Des Moines, IA.

How long is TWI's new union contract valid for?

The new union contract is valid for four years and is effective immediately.

Which TWI facilities are covered by the new United Steelworkers contract?

The contract covers Titan's operations in Bryan, OH (Local 890), Freeport, IL (Local 745), and Des Moines, IA (Local 164).

What impact will the new union contract have on TWI's business operations?

According to management, the contract will help Titan attract and retain employees while positioning the company for growth and maintaining its global market leadership position.