TITAN NORTH AMERICA ENTERS INTO EXCLUSIVITY AGREEMENT WITH KUBOTA ON NEW, KUBOTA BRANDED TRAC LOADER II TIRES

Rhea-AI Summary

Titan International (NYSE: TWI) has signed an exclusivity agreement with Kubota Tractor Corporation for its new Trac Loader II tires designed for compact and utility tractors. This marks Titan's inaugural OEM branded tire product and strengthens their ongoing partnership, previously seen with the Goodyear R14T crossover tires. The Trac Loader II promises robust performance, showcasing enhanced stability and durability, which was validated through extensive testing by Kubota. Both companies anticipate that this collaboration will deliver significant value for customers in various applications.

Positive

• Exclusivity agreement with Kubota enhances market presence.
• Trac Loader II tires exhibit improved stability and durability.
• First OEM branded tire product from Titan expands product portfolio.

Negative

• None.

WEST CHICAGO, Ill., Feb. 1, 2022 /PRNewswire/ -- Titan International, Inc. (NYSE: TWI) ("Titan" or "TWI") and Kubota Tractor Corporation (KTC) / Kubota Canada Limited (KCL) ("Kubota") have entered into an exclusivity agreement on select sizes of Titan's new Trac Loader II tires for compact and utility tractor models used in residential, commercial, agricultural, and light construction applications. This innovative tire, branded with Titan and Kubota both displayed on the sidewall of the tire, will bring new value to Titan and Kubota customers.

Paul Reitz, President and Chief Executive Officer, commented, "We're excited to launch this innovative tire into the market that will perform well in diverse applications and do so with both the Titan and Kubota brands being represented. We have had a strong, long-standing relationship with Kubota and enjoy collaborating with their development teams. The Trac Loader II is a first for Titan as an OEM branded tire product in this space, but our second exclusivity agreement together with Kubota. Previously, Titan and Kubota partnered on the Goodyear® R14T™ crossover tires, which was the first-time Kubota entered into an exclusivity agreement with a tire manufacturer."

Before entering into agreement with Titan, Kubota conducted testing on the new Trac Loader II.  In addition to the improved cleanout, the tire proved to have outstanding stability and durability, along with better roading capabilities resulting from an upgraded center lug.

"We were impressed with how the Trac Loader II performed in residential and commercial applications when paired with our compact and utility tractors," said Chris Box, Kubota Director-Product Marketing, Compact and Utility Tractors. "This tire is a perfect match for our versatile and durable tractors and will enhance our customers' productivity whether they're using them on their property at home or on a farm, ranch, or jobsite."

"It's really good to be partnering with Kubota once again on the new Trac Loader II," said Paul Reitz. "With both of our companies being prevalent on the sidewall, and as one of the industry's leading brands in each of our respective segments, this tire will both look impressive and perform great for Kubota customers."

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; and availability and price of raw materials. 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.

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.

About Kubota Tractor Corporation
Kubota Tractor Corporation, Grapevine, Texas, is the U.S. marketer and distributor of Kubota-engineered and manufactured machinery and equipment, including a complete line of tractors of up to 200 Gross hp, performance-matched implements, hay tools, compact construction equipment, consumer lawn and garden equipment, commercial turf products and utility vehicles. For product literature or dealer locations, contact:  Kubota Tractor Corporation, 1000 Kubota Drive, Grapevine, TX 76051, (888) 4-KUBOTA [(888) 458-2682], Ext. 900, or visit KubotaUSA.com.

About Kubota Canada Ltd.
Kubota Canada Ltd. (KCL) is an affiliate of Kubota Corporation, a tractor and heavy equipment manufacturer based in Osaka, Japan. KCL markets and distributes Kubota engineered and manufactured equipment, including a complete line of tractors of up to 210HP, performance-matched implements, compact and utility tractors, compact construction, landscaping and public work equipment, residential lawn and garden equipment, commercial turf products and utility vehicles. For product literature or dealer locations, contact Kubota Canada Ltd. at 5900 14th Avenue, Markham, Ontario Canada L3S 4K4, by telephone, at 905-294-6535, by visiting KCL's website kubota.ca or on Facebook.

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SOURCE Titan International, Inc.

FAQ

What is the significance of Titan International's exclusivity agreement with Kubota?

The agreement allows Titan to supply its new Trac Loader II tires exclusively for Kubota's compact and utility tractors, enhancing both companies' market offerings.

What are the key features of the Trac Loader II tires?

The Trac Loader II tires are noted for their stability, durability, and improved roading capabilities, making them suitable for various applications.

When was the exclusivity agreement between Titan International and Kubota announced?

The exclusivity agreement was announced on February 1, 2022.

How does the Trac Loader II tire benefit Kubota's customers?

The tire is designed to enhance productivity for users of Kubota's tractors across residential, commercial, agricultural, and construction sectors.

What is Titan International's stock symbol?

Titan International is traded under the stock symbol 'TWI' on the NYSE.