Titan International, Inc. (NYSE: TWI) has signed a definitive agreement to sell its Italtractor ITM undercarriage business to USCO S.p.A. The West Chicago–based manufacturer of off-highway wheels, tires, and undercarriage products expects the deal to deliver up to approximately $285 million in total cash value.
Under the agreement, Titan will receive an initial purchase price of $207 million, plus up to $6 million in earnout proceeds tied to ITM’s 2026 performance. Titan also expects about $23 million from customary closing adjustments based on ITM’s net asset and financial position. Separately, Titan has received or expects about $49 million in ITM dividends—$38 million already received in recent years and $11 million expected before closing.
The sale lets Titan concentrate on its core global wheel and tire operations for agricultural, construction, and consumer markets. Management says proceeds will help reduce debt and fund growth investments, including accretive acquisitions and partnerships.
“This transaction is an important step forward in Titan’s transformation,” said Paul Reitz, Titan’s president and chief executive officer. “The transaction will allow Titan to focus our people, capital and resources on our core global wheel and tire operations while giving us the financial capacity to pursue accretive growth opportunities and reduce debt.”
ITM designs, manufactures, and distributes undercarriage systems and components for construction, mining, forestry, road-building, and agricultural applications, and offers TRUST ITM® monitoring technology. Closing is expected early in January 2027, subject to regulatory approvals and customary conditions.
The announcement was issued via PR Newswire.
