Titan Wheel International, Inc. (Specimen)

Titan Wheel International, Inc. (Specimen)
Item# 4286titan

Titan traces its roots to 1890 and the Electric Wheel Company in Quincy, Illinois. Founded by John A. Stillwell and three associates, the company originally produced wheels for wagons and farm implements, later progressing into the manufacture of wagons, tractors and other implements.

In 1957, Electric Wheel became a division of Firestone Tire & Rubber's Steel Product Division. In 1983, some of the assets of the Firestone facility were purchased by Titan Proform of Toronto, led by the late Canadian industrialist Joseph Tanenbaum and Maurice Taylor Jr., current Titan chairman and CEO. The new company was named Can-Am Industries.

When the Goodyear Tire and Rubber Company decided to exit the steel wheel and rim business in 1986, it provided an excellent opportunity for Can-Am to purchase certain agricultural wheel-making assets. Can-Am installed the Goodyear equipment to manufacture "power adjust" wheels at the Quincy facility.

In 1988, Can-Am purchased some of the assets of French & Hecht wheel plant in Walcott, Iowa, an indirect subsidiary of the Fruehauf Corporation. This purchase added to the capacity to manufacture wheels and rims for the agricultural industry.

In 1990, Tanenbaum began restructuring his holdings in Can-Am. MascoTech, Inc., a leading auto parts manufacturer headquartered in Taylor, Michigan, split ownership with Tannenbaum and Taylor through a leveraged buyout. The company was renamed Titan Wheel International, Inc. and a new era began.

IN 1991, Titan acquired certain assets of Berkeley-Davis International, Inc., a specialist in welding and technology equipment. This expertise was used to strengthen Titan's technological abilities in steel welding. This subsidiary was sold in 1996 as Titan redefined its focus on wheel and tire assemblies. Two years later, Titan acquired certain assets of Auto Wheel Group, Inc. from NL Industries, Inc., a MascoTech affiliate. As Automotive Wheels, the company manufactured steel and aluminum rims sold to wheel manufacturers in the automotive and light truck aftermarket, as well as assemblies and steel wheels for sale to OEMs in the North American automobile industry.

Titan became a publicly traded company on NASDAQ in May of 1993. The initial offering included 2,700,000 shares of common stock offered at $15 per share. The next year, the company's growing size and revenues prompted a move to the New York Stock Exchange, trading under the symbol TWI.

In July 1994, Titan acquired certain assets of the Pirelli Armstrong Tire Corporation facility in Des Moines, Iowa, under the name of Titan Tire Corporation. The facility specialized in manufacturing agricultural tires, complementing Titan's line of agricultural wheels. This allowed agricultural equipment buyers to receive the added service of a wheel and tire assembly both manufactured by Titan.

In 1997, Titan reorganized its operations into separate wheel and tire groups, Titan Wheel Corporation and Titan Tire Corporation.

Close Up of Vignettes

Certificate: Common Stock, specimen, late 1900s

Printer: Security-Columbian / United States Bank Note Company

Dimensions: 8 (h) x 12 (w)

State: IL-Illinois

Subject Matter: Automotive and Related | Tire Makers | Specimen Pieces

Vignette Topic(s): Allegorical Featured | Allegorical Truth | Male Subject | Industrial Scene | Multiple Scenes

Condition: No fold lines, punch hole cancels in the signature areas and body, very crisp.

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