Titan will not sell Titan Europe shares

By Associated Press
September 10, 2008 | Comments (0)

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Titan International Inc., which makes off-road vehicle tires, said Wednesday it stopped discussions of a potential offer for outstanding shares of Titan Europe Plc.

In April, Titan filed a preliminary proxy with the Securities and Exchange Commission about a potential offer for an exchange of stock to be made with Titan Europe Plc for all or part of 51 percent or more of Titan Europe's outstanding shares.

Titan International said it will focus efforts on production of its new 57- and 63-inch giant steel-belted radial tires.

Titan International's shares were off 96 cents, or 4 percent, at $23.20 in after-hours trading after closing the regular session up $1.49, or 6.6 percent, at $24.16.

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