Titan International Inc. (NYSE: TWI) has completed the acquisition of Planet Corporation Group based in Perth, Australia.
Titan bought 56 percent of Planet in a $22.9 million deal. In addition, Titan paid off $10.5 million in outstanding credit at the closing.
Planet generated more than $75 million in sales in the previous 12 months and about $10 million of earnings before interest, taxes, depreciation and amortization. Planet includes National Tyres, Acme Wheel and Resource Tyre & Choice Tyre Wholesalers.
Planet is an off-the-road tire and wheel manufacturer, distributor and servicer for customers in the mining, agriculture, construction and earthmoving industries.
Planet will be a subsidiary of Titan Mining Services, which was formed recently to build Titan's international mining business.
Titan International is a holding company headquartered in Quincy that owns subsidiaries that supply wheels, tires and assemblies for off-highway equipment used in agriculture, earthmoving and recreational vehicles.
Tuesday, May 21 2013 10:49 AM EDT2013-05-21 14:49:30 GMT
Half of Hannibal is still without power Tuesday morning, and clusters of downtown merchants and residents had to wait until daylight to examine the damage lining the heart the city after Monday night's brutal storm.
Half of Hannibal is still without power Tuesday morning, and clusters of downtown merchants and residents had to wait until daylight to examine the damage lining the heart the city after Monday night's brutal storm. The National Weather Service will send a survey team to Hannibal on Tuesday to determine if it was tornadic damage or straight line winds.
Tuesday, May 21 2013 9:28 AM EDT2013-05-21 13:28:25 GMT
Clusters of downtown merchants and residents examined the damage lining the heart of America's Hometown on Monday evening following a brutal storm.
Clusters of downtown merchants and residents examined the damage lining the heart of America's Hometown on Monday evening following a brutal storm. Without power, facts among residents remained thin even two hours after the storm had waned. Some parked on the street and listened to their car radios for information. "It's too dangerous right now. We even can't see," Nancy Miller, co-owner of the Ralls County Clock Shop at 207 N. Main, said.
Monday, May 20 2013 12:54 PM EDT2013-05-20 16:54:53 GMT
By EDWARD HUSAR Herald-Whig Staff Writer The world is looking a lot different today for Shuting "Showery" Song, a student from China who spent the past two years studying at Quincy Notre Dame High
The world is looking a lot different today for Shuting "Showery" Song, a student from China who spent the past two years studying at Quincy Notre Dame High School. Song, who graduated with the rest of the senior class...
Saturday, May 18 2013 10:05 PM EDT2013-05-19 02:05:41 GMT
By DEBORAH GERTZ HUSAR Herald-Whig Staff Writer Eli Pontius was raring to go well before the starting line. He and his twin brother, J.C., were going to have an easy time finishing Saturday's Bridge
Eli Pontius was raring to go well before the starting line. He and his twin brother, J.C., were going to have an easy time finishing Saturday's Bridge the Gap to Health 5K leisure walk -- thanks to a stroller ride...
Friday, May 17 2013 10:59 PM EDT2013-05-18 02:59:42 GMT
Dick Koetter, left, shares a laugh with Larry Sheffler and Bill Waters, rights, Friday at the reunion of the 126th Supply and Service Company at Cedar Crest Country Club. (H-W Photo/Phil Carlson)
By STEVE EIGHINGER Herald-Whig Staff Writer Joe Koetters has no problem remembering way back when. Late 1968 and most of 1969 represent a special time for Joe and his brother, Dick, plus more than
Joe Koetters has no problem remembering way back when. Late 1968 and most of 1969 represent a special time for Joe and his brother, Dick, plus more than 140 of their comrades in the Army National Guard's former 126th...
Tuesday, May 21 2013 10:33 AM EDT2013-05-21 14:33:15 GMT
Quincy aldermen approved two bids for construction materials for city roads and sidewalks Monday night, but they were concerned that only one bid was submitted for each project.
Quincy aldermen approved two bids for construction materials for city roads and sidewalks Monday night, but they were concerned that only one bid was submitted for each project. Gem City Concrete LLC submitted the lone...
Tuesday, May 21 2013 10:01 AM EDT2013-05-21 14:01:11 GMT
By DEBORAH GERTZ HUSAR Herald-Whig Staff Writer AUGUSTA, Ill. -- Memorial Medical Clinics will expand to five sites with a new facility in Augusta that opens Wednesday. Augusta Mayor Tim Hiland said
AUGUSTA, Ill. -- Memorial Medical Clinics will expand to five sites with a new facility in Augusta that opens Wednesday. Augusta Mayor Tim Hiland said the new clinic will have a major impact on the community. "Anything...
Monday, May 20 2013 11:19 AM EDT2013-05-20 15:19:26 GMT
By DOUG WILSON Herald-Whig Senior Writer Ammunition sales at local sporting goods stores have slowed in recent weeks, but retailers are not ready to relax limits on how much a customer can purchase.
Ammunition sales at local sporting goods stores have slowed in recent weeks, but retailers are not ready to relax limits on how much a customer can purchase. "It's starting to lighten up. Demand seems to be softening a...
