{"id":392263,"date":"2020-12-02T17:58:45","date_gmt":"2020-12-02T22:58:45","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=392263"},"modified":"2020-12-02T17:58:45","modified_gmt":"2020-12-02T22:58:45","slug":"titan-international-inc-announces-sale-of-brownsville-texas-facility","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/titan-international-inc-announces-sale-of-brownsville-texas-facility\/","title":{"rendered":"Titan International, Inc. Announces Sale of Brownsville, Texas Facility"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p \/>\n<p>\n        <span class=\"xn-location\">QUINCY, Ill.<\/span>, <span class=\"xn-chron\">Dec. 2, 2020<\/span> \/PRNewswire\/ &#8212;\u00a0Titan International, Inc. (NYSE: TWI) today announced the completion of the sale of its <span class=\"xn-location\">Brownsville, Texas<\/span> facility. The sale was completed in November to an affiliate of Phoenix Investors, a national private commercial real estate firm headquartered in\u00a0Milwaukee, <span class=\"xn-location\">Wisconsin<\/span>.<\/p>\n<p>Originally built in 1997 for tire manufacturing, the plant totals approximately one million square feet on 108 acres. Titan ended production of tires in 2003 and most recently the facility has been leased to multiple tenants.<\/p>\n<p>&#8220;We have highlighted the sale of non-core assets as an important initiative throughout 2020 and the sale of this facility was certainly a part of that process,&#8221; stated <span class=\"xn-person\">Paul Reitz<\/span>, President and Chief Executive Officer. &#8220;This sale, along with the completion of other smaller transactions, will put us within the <span class=\"xn-money\">$16<\/span> &#8211; <span class=\"xn-money\">$20 million<\/span> range for non-core asset sales expected to be completed during the fourth quarter as highlighted during our most recent earnings release. This transaction further strengthens our balance sheet and helps position us for future growth as we continue to see higher demand levels for our products heading into 2021.&#8221; <\/p>\n<p>\n        <b><br \/>\n          <u>About Titan<\/u><br \/>\n        <\/b>: Titan International, Inc. (NYSE: TWI) is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products.\u00a0 Headquartered in <span class=\"xn-location\">Illinois<\/span>, 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 <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3000807-1&amp;h=1667182699&amp;u=http%3A%2F%2Fwww.titan-intl.com%2F&amp;a=www.titan-intl.com\" rel=\"nofollow noopener noreferrer\">www.titan-intl.com<\/a>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder6735\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/3600\/TITAN_INTERNATIONAL_LOGO.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/3600\/TITAN_INTERNATIONAL_LOGO.jpg\" title=\"Titan International, Inc. logo. (PRNewsFoto\/Titan International)\" alt=\"Titan International, Inc. logo. (PRNewsFoto\/Titan International)\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder0\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CG11347&amp;sd=2020-12-02\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/titan-international-inc-announces-sale-of-brownsville-texas-facility-301185190.html\">http:\/\/www.prnewswire.com\/news-releases\/titan-international-inc-announces-sale-of-brownsville-texas-facility-301185190.html<\/a><\/p>\n<p>SOURCE  Titan International, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CG11347&amp;Transmission_Id=202012021755PR_NEWS_USPR_____CG11347&amp;DateId=20201202\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire QUINCY, Ill., Dec. 2, 2020 \/PRNewswire\/ &#8212;\u00a0Titan International, Inc. (NYSE: TWI) today announced the completion of the sale of its Brownsville, Texas facility. The sale was completed in November to an affiliate of Phoenix Investors, a national private commercial real estate firm headquartered in\u00a0Milwaukee, Wisconsin. Originally built in 1997 for tire manufacturing, the plant totals approximately one million square feet on 108 acres. Titan ended production of tires in 2003 and most recently the facility has been leased to multiple tenants. &#8220;We have highlighted the sale of non-core assets as an important initiative throughout 2020 and the sale of this facility was certainly a part of that process,&#8221; stated Paul Reitz, President and Chief Executive Officer. &#8220;This sale, &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/titan-international-inc-announces-sale-of-brownsville-texas-facility\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Titan International, Inc. Announces Sale of Brownsville, Texas Facility&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-392263","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Titan International, Inc. Announces Sale of Brownsville, Texas Facility - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/titan-international-inc-announces-sale-of-brownsville-texas-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Titan International, Inc. Announces Sale of Brownsville, Texas Facility - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire QUINCY, Ill., Dec. 2, 2020 \/PRNewswire\/ &#8212;\u00a0Titan International, Inc. (NYSE: TWI) today announced the completion of the sale of its Brownsville, Texas facility. The sale was completed in November to an affiliate of Phoenix Investors, a national private commercial real estate firm headquartered in\u00a0Milwaukee, Wisconsin. Originally built in 1997 for tire manufacturing, the plant totals approximately one million square feet on 108 acres. Titan ended production of tires in 2003 and most recently the facility has been leased to multiple tenants. &#8220;We have highlighted the sale of non-core assets as an important initiative throughout 2020 and the sale of this facility was certainly a part of that process,&#8221; stated Paul Reitz, President and Chief Executive Officer. &#8220;This sale, &hellip; Continue reading &quot;Titan International, Inc. Announces Sale of Brownsville, Texas Facility&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/titan-international-inc-announces-sale-of-brownsville-texas-facility\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-02T22:58:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/3600\/TITAN_INTERNATIONAL_LOGO.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/titan-international-inc-announces-sale-of-brownsville-texas-facility\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/titan-international-inc-announces-sale-of-brownsville-texas-facility\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Titan International, Inc. 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Titan ended production of tires in 2003 and most recently the facility has been leased to multiple tenants. &#8220;We have highlighted the sale of non-core assets as an important initiative throughout 2020 and the sale of this facility was certainly a part of that process,&#8221; stated Paul Reitz, President and Chief Executive Officer. &#8220;This sale, &hellip; Continue reading \"Titan International, Inc. 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