Titan International, the US tyre and wheel manufacturer, is planning nearly to double the size of its European business in a bet on the continent’s rebounding economy, its chief executive told the Financial Times.
Maurice Taylor confirmed that the Illinois-based group is considering the acquisition of a beleaguered tyre factory owned by Goodyear in northern France. Arnaud Montebourg, French industry minister, made Titan’s interest public this week.
Mr Taylor added that the company, which makes tyres for off-road vehicles, is also weighing bids for three additional plants in Europe in deals that would take its sales in the region from $750m in 2012 to $1.3bn.
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