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Battle for Titan!!! (TSW)     

Treacle28 - 14 Jan 2009 09:10

Monday saw more action for Titan holders- Mefro Wheels GMBH, a german private company increased it's holding to 29.9% by acquiring stock at 40p - against the prevailing market price of 20p. Mefro wheels acquired their original 24% stake at 40p in December.
A subsidiary of Titan International Inc, Tital Luxembourg Sarl, acquired 2,079,600 @ 35p and 339,000 @ 31.5p over the last two days taking their stake to over 20%. A director of Titan Lux Sarl is the non exec chairman of Titan Europe.

Roosters are hungry at this time of year and need to eat on chicken feed. This looks like a grain fest given Titan International broke off talks to buy Titan Europe in 2008 over 200p per share. Yeah - markets have changed but a battle for control of a niche business looks set to keep me well fed for the H1 09....

Treacle28 - 14 Jan 2009 09:10 - 2 of 100

View of Zak Mir this morning:-

'The technicals here look positive in that while above the initial December resistance of 22p, the upside may be as high as the 200 day moving average of 57p'.

http://www.sharecrazy.com/ubbthreads/showflat.php?Cat=&Number=431962&page=0&view=collapsed&sb=5&o=&fpart=1#Post437475

Zak Mir is a very highly respected chartist so his involvement and comments do bode well for this stock.

Treacle28 - 14 Jan 2009 09:51 - 3 of 100

More very large buys...bet its Titan again and more to come:-

1.26 million buy + 572K buy at 35p

Titan may need a stake higher than Mefro's 29.9% to launch a takeover.

Treacle28 - 14 Jan 2009 15:00 - 4 of 100

This must be a first where someone has picked up 5 million shares at 40p only 2 days ago and yet the price is so below that level. Let alone the other significant stakes purchases.

Treacle28 - 14 Jan 2009 15:51 - 5 of 100

Another large buy today, 250,000 at 35p.

Treacle28 - 14 Jan 2009 16:06 - 6 of 100

More....753,597 and 600,000 buys at 35p.

Treacle28 - 14 Jan 2009 20:50 - 7 of 100

Should get another Holdings in Company RNS at some point tomorrow for these buys today:-

600,000 buy at 35p
753,597 buy at 35p
250,000 buy at 35p
572,715 buy at 35p
1,265,000 buy at 35p

Energeticbacker - 14 Jan 2009 22:53 - 8 of 100

'The technicals here look positive...' view of Zak Mir.
What have technicals to do with this at the moment!

When you have 2 industry players (Titan Inc and Mefro) buying up stock, this has nothing to do with 'technicals'; the industrialists won't know anything about technicals. They are only interested in fundamentals!

Investor's Champion (www.investorschampion.com) has kept up with this one; focusing on the fundamentals!

jkd - 15 Jan 2009 01:17 - 9 of 100

blimey!
i havnt read or posted in a while. where did you 2 come from?
this sounds too good to be true. thanks.
im off to look at the chart and decide for myself.
oooh i cant wait to get my hands on some of these.
thanks once again.
regards
jkd

Treacle28 - 15 Jan 2009 08:57 - 10 of 100

Titan Europe Director/PDMR Shareholding

TIDMTSW

RNS Number : 6828L
Titan Europe PLC
15 January 2009

?
Titan Europe plc ("Titan Europe" or "the Company")


Director's Holding




The Company was informed on 14 January 2009 that on 14 January 2009 Titan
Luxembourg Sarl, a subsidiary of Titan International, Inc., bought 2,268,597
Ordinary Shares at 35p per share in the Company. Maurice Taylor is a director
of Titan Luxembourg Sarl and is the non-executive chairman of Titan Europe.


Following these purchases, Titan Luxembourg Sarl has an interest in a total of
18,993,821 ordinary shares representing approximately 22.89 per cent. of the
issued share capital of the Company.

This information is provided by RNS
The company news service from the London Stock Exchange
END

Treacle28 - 15 Jan 2009 08:57 - 11 of 100

Titan Luxembourg Sarl have bought another 2,268,597 shares. 22.89% for them now...looks they're heading towards 30% too and then bid from Mefro or Titan or both.

Treacle28 - 15 Jan 2009 09:03 - 12 of 100

Out of these buys yesterday:-

600,000 buy at 35p
753,597 buy at 35p
250,000 buy at 35p
572,715 buy at 35p
1,265,000 buy at 35p

The 1,265,000 + 250,000 + 753,597 belong to Titan and equal 2,268,597 shares.

Another RNS should be coming on who bought 600,000 + 572,715 = 1,172,715 shares.

Treacle28 - 15 Jan 2009 12:04 - 13 of 100

Hemscott have updated the major shareholders percentage figure after this morning's RNS, does not include directors holdings or others holding less than 3%:-

Titan Europe PLC has a total of 6 major shareholders.

Together they account for 69.38% of the total shares in issue.

http://www.hemscott.com/companies/shareholders.do?companyId=4586

Treacle28 - 15 Jan 2009 15:16 - 14 of 100

Free float must only be around 10 million shares now imo and Titan need around 6 million more shares to get to 30%. Picked up a few more. There's not been any press mention at all thus far on Mefro's and Titan's buying. Maybe this weekend or once Titan have bought a few more!

Treacle28 - 15 Jan 2009 23:21 - 15 of 100

Tomorrow's Times....incorrect information about a profit warning and stake of Titan International is 22.89% now but stakebuilding & Bid news by Titan International who offered 230p last year is most welcomed.

'Titan Europe shares have risen since a profit warning last week, sparking talk of a bid that the maker of tractor wheels denied. It emerged that the founding chairman of Titan International, the US parent, raised his stake in Titan Europe to 20 per cent over two days shortly after the warning. The shares fell 3p to 30p'.

http://business.timesonline.co.uk/tol/business/markets/article5526995.ece

Treacle28 - 16 Jan 2009 10:32 - 16 of 100

Hemscott have updated the percentage figure for major shareholders again today...changed from 69.38% yesterday:-

Titan Europe PLC has a total of 6 major shareholders.

Together they account for 72.11% of the total shares in issue.

http://www.hemscott.com/companies/shareholders.do?companyId=4586

Treacle28 - 16 Jan 2009 14:51 - 17 of 100

Any sell orders on the order book now appearing at 39-45p which is an indication of where this is going. The large 58,000 buy at 34p from yesterday's close clearly showing.

40564172so8.png

jkd - 25 Jan 2009 16:46 - 18 of 100

T28
do you think you may have been somewhat over optimistic with your previous posts?
or is it too soon to say? price was at 31p level when i last posted so now just 10 days later at 24p is it now even more too gooder? its a bit too risky for me but thanks once again for drawing it to my attention. only time will tell.
regards
jkd

sportbilly1976 - 26 Jan 2009 15:10 - 19 of 100

Treacle sold out just after his last post above for 29p...

off to his next pump & dump.....no patience that boy...only time for the T10 to make any money.

mitzy - 27 Jan 2009 06:16 - 20 of 100

What ever happened to old Treacle I do miss him.

mitzy - 16 Apr 2009 20:06 - 21 of 100

I do enjoy a treacle -free thread..lol.

Treacle28 - 16 Apr 2009 20:39 - 22 of 100

Back in this morning having bought and sold these from 15p to 35p after Christmas....finals results shouldn't be too far away as per the trading statement in February and imo 30p is on the horizon!

big.chart?symb=uk%3Atsw&compidx=aaaaa%3A

Gathering momentum now and 30p or more is on the horizon imo in the next few days. Longer term, still very safe play with Mefro holding their around 29% stake at 40p and Titan International increasing their holding in January at 35p to take their stake to around 22%. An offer equivalent to 220p was on the table this time last year.

Treacle28 - 16 Apr 2009 20:40 - 23 of 100

Updated Post on Motley Fool in February...the below is some referenced material:-

Valuation

'Thus we can see that the Wheel division makes up roughly a third of the company. Mefro were prepared to pay 40p/share and I doubt whether they are very interested in the Undercarriages division.

Is a break up possible? I would have thought so. Mefro clearly know their onions. They bought out Michelin in 2005. Either way, I would say Mefro want a say in what happens to the Wheel Division. Either they will come to an agreement to buy the Wheels Division, or they will at least have a controlling say in who takes over the company and thus protect their supply chain. Either way, I think Mefro have played a blinder.

Given that Mefro have probably made a valuation of the Wheels Division that ensures that the price that they have paid so far (35-40p range for most of their 29.9% /24.79M shares say worst case for 9.7M) is a price that they would consider a bargain, I suspect that they will be winners whatever happens.

So what is the value of the company? If Wheels makes up approx a third, then one might argue that the company as a whole is worth somewhere in the region of 100-120p. Compare this to the price that Titan International were offering in summer 08 at 220p and we can see there is a big gap'.

http://boards.fool.co.uk/Message.asp?mid=11428993

Treacle28 - 16 Apr 2009 20:40 - 24 of 100

Three Dirt Cheap Small Caps
Published in Company Comment on 20 February 2009

Wheels on fire
Whilst Tolent is the least risky of the three shares, I think Titan Europe is the most interesting and have bought some myself. It has been subject to stake building by a rival and an attempt by its original owner, Titan International (NYSE: TWI) to buy it back.

In June Titan International made an all share offer worth 230p but three months later they called it off. The shares crashed as low as 7p in December before Germany's Mefro Wheels bought 25% of the company at 40p, over 300% more than the market price.

Mefro came back for more last month, taking its stake to 29.9%, the maximum allowed under takeover rules without making an offer for the whole company. Simultaneously a secretive Canadian fund manager bought 5% at 35p. Titan Europe was forced to say it had not received any bid approaches. It seems to me if a rival thinks a company is worth 40p then it's fallen too low. However, just this morning Titan said although profits for 2008 will be in line with expectations, 2009 has got off to a slow start. It reckons sales will fall by 30% from last year's total of 450m and added that it wouldn't be paying a final dividend for 2008. Its shares have dropped from the price shown in the table above.

There are probably more profits shocks in store for these high-risk shares, but they are priced to go bust and there's still a chance of another bid for Titan Europe.

http://www.fool.co.uk/news/investing/company-comment/2009/02/20/three-dirt-cheap-small-caps.aspx

Treacle28 - 17 Apr 2009 10:05 - 25 of 100

Price up again today as expected on decent volume. Order book is also healthy on the buy side.

Treacle28 - 17 Apr 2009 11:23 - 26 of 100

About 70% of the shares in the hands of major shareholders and if Titan Inc. want to buy more or someone else there is going to be big short squeeze on resulting in bigger rises.

Treacle28 - 17 Apr 2009 12:02 - 27 of 100

At this rate, may hit 30p today.

security1 - 17 Apr 2009 12:09 - 28 of 100

treacle get some HERENCIA/HER if the mm,s will sell you any partner news imminent.

Treacle28 - 17 Apr 2009 17:43 - 29 of 100

A predator like Mefro or Titan International will snap the company up. Good close and might possibly rise alot more on Monday again. There wasn't much buying at all today to fuel the 23% rise and the most significant trades were 70,000 buy at 27p which bought the lunchtime surge and proved the stock shortage adage right and then a 100,000 sell towards the close at 25.50p. Very little risk imo here with the directors, mefro's and titan international inc. stakes!

Treacle28 - 22 Apr 2009 09:10 - 30 of 100

Topped up this morning. Final results should be anyday now!

Treacle28 - 23 Apr 2009 08:52 - 31 of 100

Topped up again by another 18,000 shares this morning. Finals are out by next Friday.

Treacle28 - 23 Apr 2009 10:46 - 32 of 100

Perking up again on not much buying!

Treacle28 - 23 Apr 2009 22:52 - 33 of 100

Patience needed for a few more days but check out the statement from Titan International - need a bigger hint? Takeover news could be accompanied with Finals anyday now. Titan Europe received a bid of 230p per share in April last year.

Subject: General news
Date: Thu 26th Feb 2009 11:05:22
Country: USA
Industry: Industrial engineering
Company:


BRIEF-Titan International Q4 results

Feb 26 (Reuters) - Titan International Inc (Illinois):
* Announces record fourth quarter and yearly sales results and corporate
milestone of over $1 billion in revenue
* Q4 pro forma earnings per share $0.17
* Q4 revenue $258.6 million
"* Sees further consolidation in specialty wheel and tire market in 2009"
* Reuters Estimates Q4 earnings per share view $0.23, revenue view $236.45
million
* Q4 net loss per share $0.53

mitzy - 24 Apr 2009 08:55 - 34 of 100

30p soon then..?

Treacle28 - 24 Apr 2009 10:27 - 35 of 100

Perking up again, and could jump over 25p soon!

security1 - 24 Apr 2009 10:55 - 36 of 100

treacle brazillian diamonds/BDY news out not on advn or other bb,s

Treacle28 - 24 Apr 2009 15:26 - 37 of 100

24.0-25.0 pence, nicely poised for finals next week and imo very sharp upwards re-rating!

Treacle28 - 25 Apr 2009 13:35 - 38 of 100

Finals are out by next Thursday and imo could well be accompanied with takeover news imho:-

News Release from Titan International, Inc.
February 26, 2009
Titan Announces Record Fourth Quarter and Yearly Sales Results and Corporate Milestone of over $1 Billion in Revenue

"Because the world is contracting, we believe there will be further consolidation in the specialty wheel and tire market in 2009. This consolidation should be beneficial for Titan's long-term growth''.

http://www.titan-intl.com/news/22609

Argy2 - 25 Apr 2009 14:12 - 39 of 100

I'm willing to bet the figs aren't accompanied by a bid. Ramping rubbish.

Treacle28 - 26 Apr 2009 13:40 - 40 of 100

Titan International have imo so much said in terms of the below quote that expect any consolidation to benefit them. Titan Europe expected to announce increase turnover of 450m this time around and having offered 220-230p this time last year....with finances strong again for them they will imo come back and takeover Titan Europe at possibly half the price offered last year at around 110p.

"This consolidation should be beneficial for Titan's long-term growth''.

Treacle28 - 26 Apr 2009 14:38 - 41 of 100

Even if a takeover is not announced with the finals, I'd still expect a signigicant re-rating from these levels to well over 50p levels. Expect to see more directors buying and from Titan Inc. on that.

Treacle28 - 26 Apr 2009 16:48 - 42 of 100

'The one analyst offering a 12 month price target expects Titan Europe (TSW:LSE) share price to rise to 280.00 in the next year from the last price of 23.75'.

http://markets.ft.com/tearsheets/analysis.asp?s=TSW%3ALSE

Treacle28 - 27 Apr 2009 10:09 - 43 of 100

Topped up again this morning at 24.50p. Looking better now, 23.50-26.50p.

mitzy - 27 Apr 2009 14:12 - 44 of 100

Will there be a bid..?

Treacle28 - 27 Apr 2009 15:03 - 45 of 100

Who knows...but is a possibility imo. Nonetheless with the correction already underway on many stocks, this one has a big correction pending and hopefully once the finals are out.

Treacle28 - 27 Apr 2009 15:40 - 46 of 100

Not many shares in free float now too from the 82.82m shares in Issue.

Interests in 3% or more in the ordinary share capital of the company as at 6 March 2009.

Fund Manager No. of Shares %

Mefro Wheels Gmbh 24,738,853 29.8
Titan Luxembourg SARL. 18,993,821 22.9
AXA Framlington Investment Management 6,877,917 8.3
Lehman Brothers International Europe in Administration 4,203,649 5.1
UBS Ag Market Maker 3,234,659 3.9
Lakeview Asset Management 2,579,475 3.1
60,628,374 73.1

Director Shareholdings as of Wednesday 10th December 2008

No. of Shares
J M A Akers 610,000
V M R Wicks 500,000
M C LaManna 288,000
E H Billig 40,000
P A Gartside 24,000

http://www.titaneurope.com/investors/default.asp?pag=6

Treacle28 - 27 Apr 2009 17:58 - 47 of 100

Some good buying today inc. a 38,766 buy at 25.50p near the close.

Key Date Status Date
Next prelim announcement Approximate 29th April 2009

http://www.hemscott.com/companies/key-dates.do?companyId=4586

Treacle28 - 27 Apr 2009 21:13 - 48 of 100

Titan International expects something to happen by July 2009:-how else can you define 'what happens in our markets' and 'consolidation being beneficial to Titan Inc.'s long term growth' other than takeover of Titan Europe after their offer of 230p in Apr 08 and increase in holding by 5% to 22.89% at 35p in Jan 09. What other consolidation could be beneficial for Titan Inc.'s long term growth??? My answer is nothing other than takeover of Titan Europe. Titan Europe have got giants such as Caterpillar and mining giant Vale as their customers and a year since the last offer of 230p they could probably acquire Titan Europe at half the price at about 115p imo. The demerger originally only happened because Titan Inc. needed the cash which is no longer a worry.

"Because the world is contracting, we believe there will be further consolidation in the specialty wheel and tire market in 2009. This consolidation should be beneficial for Titan's long-term growth. Titan has maintained its growth while keeping its SG&A expenses in the 5-7% range, and we expect to continue this growth with our ability to be one of the most competitive companies in our field. Titan will continue to focus on the goals I set in December, but what happens in our markets in the next four months will determine if these goals can be reached. I will provide an update the first part of July."

http://www.titan-intl.com/content/22609

Treacle28 - 27 Apr 2009 21:40 - 49 of 100

In Jan 09 Titan Inc. also amended and restated its revolving credit facility with Bank of America. This was a fortnight after increasing their stake in Titan Europe to 22.89%. Enough loan facility setup there to go for Titan Europe again imo. Their cash balance at 31 Dec 08 was $61.7m. What else would do they need $150-$250 million other than to acquire Titan Europe???

Revolving credit facility amendment:
On January 30, 2009, Titan International Inc. amended and restated its revolving credit facility (credit facility) with Bank of America, N.A. The amendment included a multi-year extension that extended the credit facility termination date to January 2012 from the previous October 2009 date. The amendment created an accordion feature within the credit facility that set the initial loan availability at $150 million with the ability to request increases up to a maximum availability of $250 million. The amendment adjusted the borrowing rates within a pricing grid that includes a minimum 1 percent LIBOR rate.


Cash balance: The company's year-end cash balance was $61.7 million at December 31, 2008, as compared to $58.3 million at year-end 2007.

Treacle28 - 28 Apr 2009 10:29 - 50 of 100

Topped up just now with another 7270 shares at 24.50p.

Treacle28 - 28 Apr 2009 20:02 - 51 of 100

Final Results should be out hopefully at 7 o'clock tomorrow morning. Should have lots of news to digest and imo correction to more realistic levels especially with strong upwards corrections taken place in many stocks over the past month!

ptholden - 28 Apr 2009 21:47 - 52 of 100

Treacle / Smiler / Sue Helen

'Topped up just now with another 7270 shares at 24.50p' LoL. I see TSR is following your usual style of pump and dumps. Selective editing of RNSs without telling the whole story, claims of 'topping up', no doubt the useless TA will follow next. Worth reading the last Trading Update:

The Board anticipates announcing the Group's preliminary results for the year ended 31 December 2008 by the end of April 2009. We anticipate full year 2008 pre-tax pre-exceptional profits to be in-line with market expectations. Total revenues are expected to be around 450 million.

In light of the continuous changes in overall market conditions it is appropriate to make some comment on the Group's prospects for the financial year ending 31 December 2009.

In our December trading update we highlighted the significant increase in rescheduling or postponement of orders by our customers. This was a result of the further deterioration in their global markets, especially in construction related activities. As expected December saw a very significant decline in sales and manufacturing with volumes substantially lower than in previous periods and with constantly changing schedules.

As we entered the new financial year, we further reviewed the business during the first six weeks of 2009 and our volume forecast is based on this analysis. Most of our markets have continued to decline and therefore, against this backdrop and very limited forward visibility we have reduced our forecast sales volumes for 2009 to 30% below those of 2008. In light of this reduction in sales volume, we continue our programme of scaling back material inputs, manufacturing, people and investment plans in order to re-align our cost base to reflect the more challenging markets our industry is experiencing. Fixed costs are being reduced throughout the Group but care is being taken to preserve the Group's resources and investment in engineering, quality and technical sales.

Despite this tough backdrop it is worth noting that not all markets are equally affected and the Group is seeing some benefit from its product, market and geographic spread.

The Group continues to have regular dialogue with its banking syndicate and retains their support.

Dividend

The Directors believe that in view of the current uncertainties in the market, it would be prudent to preserve cash and therefore, the Directors will not be proposing a final dividend for the year ended 31 December 2008.


Unless there is a take-over bid there doesn't seem much reason to buy until the trading picture becomes clearer. Treacle will continue to pump away though.

Treacle28 - 29 Apr 2009 08:47 - 53 of 100

Tomorrow looks to be the day as per the below...good opportunity to top up today again imo with some impatient holders selling out.

'Issued by Citigate Dewe Rogerson, Birmingham
Date: 20 February 2009
Immediate Release


Titan Europe Plc
("Titan Europe" or the "Group")
Trading Update

The Board anticipates announcing the Group's preliminary results for the year
ended 31 December 2008 by the end of April 2009. We anticipate full year 2008
pre-tax pre-exceptional profits to be in-line with market expectations. Total
revenues are expected to be around GBP450 million'.

Treacle28 - 29 Apr 2009 15:14 - 54 of 100

Good reversal today on hardly any buying. Poised for finals tomorrow.

Treacle28 - 30 Apr 2009 08:16 - 55 of 100

Still no finals yet. The company said in the trading update in Feb 2009 that they would be out by end of April. During the trading day or quite possibily imo that takeover news is surfacing beneath.

Treacle28 - 30 Apr 2009 13:39 - 56 of 100

Spoken to the company just now and the finals will now be out in early May! They couldn't provide any more information but imo goes with my research that a takeover is surfacing hopefully and hence the delay. DYOR.

ptholden - 30 Apr 2009 16:09 - 57 of 100

Load of bollocks re the delay IMO

Treacle28 - 01 May 2009 09:37 - 58 of 100

Rising again on continued buying volume.

Treacle28 - 05 May 2009 11:00 - 59 of 100

Just picked up another 10,000 shares at 24.83p. Finals delayed thus far but hope to be out in early May. IMO nicely poised for a big correction on returning sentiment in the markets + added bonus about size of Mefro's and Titan Inc's stakes.

Treacle28 - 05 May 2009 12:57 - 60 of 100

24.00-27.00p, finally perking up again after consolidation over the last week.

Treacle28 - 05 May 2009 16:35 - 61 of 100

Good 10% rise today despite double the number of sells vs buys. Chart pointing to mid-30's possibly prior to finals announcement.

big.chart?symb=uk%3Atsw&compidx=aaaaa%3A

Treacle28 - 05 May 2009 18:21 - 62 of 100

For what its worth...after close today.

BUY
CONFIRMED

26.000
+2.5000 +10.64%

http://www.britishbulls.com/StockPage.asp?CompanyTicker=TSW&MarketTicker=Industrials&TYP=S

ptholden - 05 May 2009 19:02 - 63 of 100

FWIW indeed - LOL

British Bulls an automated pile of rubbish, much like your garbage TA Smiler.

As far as I'm concerned this can go up or go down, I don't really care which, but we're in a Bull rally and most stocks, even the bad ones are being picked up. But it's worth posting on the threads you contribute to just to let people know (the silent majority) what a ramping twat you are and the dangers in following your comments. You'll be out and they will possibly be left holding a declining stock - caveat emptor.

How did your complaint go with MAM? Did you tell them you were a banned poster under another alias?

Treacle28 - 05 May 2009 19:58 - 64 of 100


Titan International's 1st Qtr results on 29 Apr 09:-

Titan Announces All-time Record First Quarter Agricultural Sales

Statement of Chief Executive Officer:

"Large farm tires and wheels were selling well in the first quarter of 2009, along with Titan's new super giant mining tires," said Titan Chairman and CEO Maurice M. Taylor Jr. "It is difficult to predict what will happen moving forward. The price of corn is holding and soybeans are up, so the agricultural market looks good, but are farmers going to keep buying with all the uncertainty in the economy? I don't know. The orders for second quarter are good, but lead times are much shorter today than six months ago. All of Titan's material costs are dropping except nylon," said Taylor.

"There is no shortage of giant mining tires today and pricing has dropped by at least 25 percent because of the drop in material costs. Natural rubber is projected to drop from approximately eighty cents today to fifty cents by the end of the year. In September 2008, it was one dollar and fifty-two cents.

"The great news in all of this is that it's time everyone really gets down to working hard and smart. Since Titan has been running at an SG&A level of five to seven percent, we are set to grow our market share. Titan will be making improvements in every product we make, and I will be visiting every customer I am able to this year. Titan can use this environment in order to grow our market share, but if this economy turns up, then Katie bar the door,' for the good times will be back," said Taylor.

http://www.titan-intl.com/content/42909

Treacle28 - 05 May 2009 20:02 - 65 of 100

This is good for Titan Europe with the synergies between the two companies:-

'pricing has dropped by at least 25 percent because of the drop in material costs. Natural rubber is projected to drop from approximately eighty cents today to fifty cents by the end of the year. In September 2008, it was one dollar and fifty-two cents'.

ptholden - 05 May 2009 21:36 - 66 of 100

Sales Down

Sales for first quarter 2009 were $232.6 million, compared to $253.5 million in the first quarter of 2008

Gross Profit Down

Gross profit for first quarter 2009 was $30.1 million, compared to $32.3 million in 2008.

Income Down

First quarter income from operations was $14.1 million, compared to $16.1 million last year.
Net income for the first quarter was $7.0 million, compared to $8.1 million in the first quarter of last year.

Nothing like telling the whole story Smiler/SH/Lala/Treacle and all your other logons. Typical ramper with only his own interests at heart. Do some very, very intensive research before investing in any stock this ramper posts on.

Treacle28 - 06 May 2009 16:39 - 67 of 100

Mefro

http://www.mefro.de/english/home.html

its interesting to see just how big they really are esp the post Michelin acquisition.

Treacle28 - 06 May 2009 19:28 - 68 of 100

Titan Inc. have sinced increased their stake by around 5% in the 30's prices in Jan 09 and ofcourse Mefro holding their 29.9% at 40p. Hemscott have got tomorrow pencilled for results but hopefully by end of next week at the latest. Currently trading at a p/e of just around 1.50p. Even 1.00 would be a p/e of 6 possibly.

Last April:-

LONDON, April 14 (Reuters) - British wheelmaker Titan Europe (TSW.L) received a more-than-100-percent premium all-share takeover offer, at 230 pence ($4.54) per share, on Monday from U.S.-based former parent Titan International.

"It's not an over-generous offer but it's reasonable," said fund manager Oliver Brown at 3-percent shareholder RC Brown Investment Management, by phone on Monday.

Illinois-based Titan International is interested in buying back Titan Europe because it is once again focusing on larger off-road wheels, having decided to focus on smaller wheels in 2004.

Titan Inc is now developing ultra-large wheels for mining vehicles which would be a good fit with Titan Europe's undercarriage and wheel work on construction vehicles, analyst Jon Lienard at broker Brewin Dolphin said Monday.

http://www.reuters.com/article/companyNews/idUKL1467678920080414?symbol=TSW.L

Treacle28 - 06 May 2009 23:41 - 69 of 100

Applies imo to our stock Titan Europe, 200p this time last year and now 26p. Once the finals are out we could easily more than just double imo with the dramatic falls from 200p.

By James Bartholomew
Last Updated: 10:48AM BST 06 May 2009

'Right now it seems the turn of the shares which were heavily sold down to return to more sensible valuations. The fallen have become mighty. The rise of a share from a miserably unkind valuation to a fair one can mean a doubling and more'.

http://www.telegraph.co.uk/finance/personalfinance/investing/5277843/Diary-of-a-private-investor-Dash-for-so-called-trash-shares-has-given-me-a-16pc-return-this-year.html

Energeticbacker - 07 May 2009 10:50 - 70 of 100

Delay with the results doesnt exactly instill confidence!
On the blog at www.investorschampion.com/blog

Treacle28 - 07 May 2009 15:09 - 71 of 100

'To get a better sense of conditions in the off highway market its worth having a look at GKN, which has a division supplying into this market, or indeed NYSE listed Titan International, the manufacturer of tyres for the off highway market which announced its results at the end of April in which the Chief Exec commented that Large farm tires and wheels were selling well in the first quarter of 2009, along with Titans new super giant mining tires, a positive read across to Titan Europe?'

http://www.investorschampion.com/blog/entry/titan-europe-tsw-delay-with-the-results-doesnt-exactly-instill-confidendenc

Treacle28 - 07 May 2009 21:52 - 72 of 100

Titan International Stock has been rising strongly as of late...whilst we continue to trade on a p/e of less than 2. The finals delay has not been healthy but hopefully will be worth the wait!

charts.dll?2-1-14-0-0-512-03NA000000TWI-

Treacle28 - 08 May 2009 17:23 - 73 of 100

Titan Inc. continues to rise and up another 5.75% today. Risen from low of $2.50 in March to $7.54 now.

Trading on a p/e of 7.15 compared to Titan Europe's of less than 2. Should see same big correction if not even more once the finals are out imo.

http://quotes.nasdaq.com/asp/SummaryQuote.asp?symbol=TWI&selected=TWI

Treacle28 - 08 May 2009 21:14 - 74 of 100

Stunning 26.23% rise in Titan International shares this evening on strong volume. Now risen to $9 and having been as high as $9.38 today from the lows of $2.50 over the last eight weeks.

Titan Europe need to get their results out and hopefully mirror the same kind of rises.

Treacle28 - 09 May 2009 14:24 - 75 of 100

Friday's Volume in Titan Inc and recent very strong rises.

charts.dll?2-1-14-0-0-53-03NA000000TWI-&

Treacle28 - 13 May 2009 18:06 - 76 of 100

Finals must be tomorrow or Friday now...imo.

Treacle28 - 14 May 2009 21:03 - 77 of 100

Spoke to the company today and was told that they are still putting everything together and would be released very soon.

Treacle28 - 15 May 2009 08:55 - 78 of 100

22-25p on no buys. MMs finally moving it up and some orders on the buy side on the order book.

Treacle28 - 17 May 2009 16:28 - 79 of 100

Some good buying returning on Friday. Hopefully final results finally this week.

Treacle28 - 17 May 2009 16:41 - 80 of 100

Will break out upon release of finals imo. Price been consolidating in the twenties for six months now.

big.chart?symb=uk%3Atsw&compidx=aaaaa%3A

Treacle28 - 19 May 2009 08:21 - 81 of 100

22.5-24.75p, still teetering on a breakout imo.

Treacle28 - 20 May 2009 11:54 - 82 of 100

Spoken to the company again today and results out by end of this week or Tuesday morning next week.

Treacle28 - 21 May 2009 09:11 - 83 of 100

Gushing up today on volume...results are tomorrow or Tuesday.

Treacle28 - 21 May 2009 12:05 - 84 of 100

A 130,000 buy at 24p has just come through. Monster buy before results.

Treacle28 - 21 May 2009 18:12 - 85 of 100

Strong buying volume today ahead of results tomorrow or Tuesday....poised for breakout imo upon release of finals:-

big.chart?symb=uk%3Atsw&compidx=aaaaa%3A

Treacle28 - 22 May 2009 07:09 - 86 of 100



Titan Europe Preliminary Results



TIDMTSW

RNS Number : 6884S
Titan Europe PLC
22 May 2009

?
Issued by Citigate Dewe Rogerson Ltd, Birmingham
Date: Friday, 22 May 2009
Embargoed: 7.00am




Titan Europe Plc ("Titan Europe" or "the Company" or "the Group")
"Manufacturers of "off-highway" wheels and undercarriages for the global
Construction, Agricultural and Mining markets"






"2008 was a dramatic roller-coaster ride for our Company with market conditions
and material pricing and availability swinging dramatically in a very short
time. As a consequence, the 2008 financial results say much less than usual
about the tremendous amount of effort that our management team has put into the
business.


2008 saw record revenues of GBP452.3m (2007: GBP385.8m) an increase of 17.2%.
However, as a result of margin reductions and the downturn which began in the
4th quarter, trading profit for the Group was down 2.2% at GBP31.2m (2007:
GBP31.9m).


As reported in our February 2009 trading update, we have reduced our forecast
sales volumes for the year to 30% below those achieved in 2008. In light of this
reduction, we are continuing our programme of scaling back material inputs,
manufacturing, people and investment plans in order to realign our cost base to
reflect the more challenging markets our industry is experiencing. However,
great care is being taken to preserve the Group's resources and investment in
engineering, quality and technical sales.


On 19 May 2009, we successfully renegotiated the Group's primary banking
facilities. The new amendment and restatement agreement for the EUR110,000,000
facility provides covenant and liquidity headroom to support the Group's long
term business plans and reflects our primary lenders commitment to, and the
financial stability of, the Titan Europe business.


In the current situation, your Board believes that the business will be well
placed to take advantage of opportunities in our industry as markets recover."


Mike Akers, Chief Executive, Titan Europe Plc




2008 Preliminary Results attached


+------------------------+----------------------+------------------------------+
| Enquiries: | | |
+------------------------+----------------------+------------------------------+
| Mike Akers, Chief | Mark Percy | Fiona Tooley |
| Executive | | |
+------------------------+----------------------+------------------------------+
| Titan Europe Plc | Seymour Pierce | Citigate Dewe Rogerson Ltd |
+------------------------+----------------------+------------------------------+
| Today: +44 (0) 1562 | Tel:+44 (0) 20 7107 | Tel:+44 (0) 121 455 8370 |
| 850561 | 8000 | |
+------------------------+----------------------+------------------------------+
| www.titaneurope.com | | Mobile: +44 (0) 7785 703 523 |
+------------------------+----------------------+------------------------------+
| Ticker AIM: TSW | | |
+------------------------+----------------------+------------------------------+


Preliminary Results
for the year ended 31 December 2008






The Board of Titan Europe is pleased to announce its unaudited preliminary
results for the year ended 31 December 2008, expressed under International
Financial Reporting Standards (IFRS) and prepared in accordance with the
accounting policies to be adopted in the Annual Report for the twelve months
ended 31 December 2008.


Highlights:


* Revenue up 17.2% to GBP452.3m (2007: GBP385.8m)



* Within the Wheels division record revenue (including share of joint venture) at
GBP197.2m (2007: GBP144.8m) and record trading profit (excluding share of joint
venture) at GBP22.6m (2007: GBP10.7m)



* Continued growth in revenue from South America and Rest of World with revenue up
in the Undercarriage division 40.8% to GBP84.2m (2007: GBP59.8m) and in the
Wheels division 38.9% to GBP31.8m (2007: GBP22.9m)



* Revenue from share of joint venture up 69.2% at GBP4.4m (2007: GBP2.6m)



* Agricultural revenue up 46.1% to GBP116.6m (2007: GBP79.8m)



* Mining revenue up 29.0% to GBP81.8m (2007: GBP63.4m)



* Trading profit for the Group down 2.2% at GBP31.2m (2007: GBP31.9m)


Statement by Mike Akers, Chief Executive


Introduction


The Group continues to be the only specialist manufacturer of tracked and
wheeled movement systems to the construction, agricultural and mining
industries.


Reviewing 2008 in May 2009 reinforces the memory of exactly how dramatic the
roller-coaster ride was during last year.


Before looking at performance for the year as a whole, I have extracted some
elements from our regulatory announcements made during 2008 to highlight the
pace of the changes.


In our 2007 review, reported at this time last year, we referred to the strength
of order books in earthmoving, mining and agriculture with only the North
American construction business declining and the Rest of the World construction
being flat. We were concerned with a possible rapid escalation in steel prices
and shortage of supply.


At the time of the AGM in June 2008 we had continued to see strong markets for
agriculture and earthmoving wheels - the concerns for steel had been confirmed
and we were facing draconian price increases and contracts being broken by
suppliers with the result being reduction in margin as steel price increases
were passed through either incompletely or with a time delay.
The Interim Report, issued in July 2008, reflected the continued strengths being
seen in agriculture and earthmoving with construction declining again,
particularly in North America. First-half profitability had fallen as a result
of the pricing time lag, but we still saw real sales volumes ahead of 2007
(Wheels volumes were up compared to 2007, but Undercarriage volumes were down).
We predicted margins advancing as price increases were achieved.


It was clear that the markets and pricing recovery potential in the Wheels
business was better at this time than in Undercarriages and we retained some
confidence that these markets would not be so significantly affected by the
global malaise.


Nonetheless, we started a programme of stock, overhead, and input material
reductions, anticipating further potential falls in order levels and
concentrating on preserving cash.


The agricultural business remained very resilient and even in December 2008, our
customers were forecasting increases in sales in 2009. We, however, discounted
these substantially and continued the programme of stock and overhead reduction
throughout the business which we started in September 2008. When we reported in
early December, the business was already deep into a programme of scaling back
which we believed would see us in good stead throughout this, the worst
recession any of us in this Group has seen.


In the current situation, your Board believes that the business will be well
placed to take advantage of opportunities in our industry as markets recover.
Results


Despite the near turmoil described in the introduction, the Group produced
record revenue of GBP452.3m (2007:GBP385.8m). This was an increase of 17.2% over
2007, but was very significantly affected by the move in exchange rates, the
impact of which is clearly set out in note 2.


The difference in performance of the two divisions was quite extreme, but this
deviation is expected to be temporary.


Our Wheels division had an outstanding year with revenue (including share of
joint venture) at GBP197.2m (2007: GBP144.8m) producing a record trading profit
(excluding share of joint venture) of GBP22.6m (2007: GBP10.7m).


In contrast, the Undercarriage division had a challenging and difficult year.
The reduction in volumes was felt much more strongly as also was the effect of
material price escalation and the lag in recovery. The Undercarriage division
accounted for revenue of GBP259.5m (2007: GBP243.6m) and recorded trading profit
of GBP8.6m (2007: GBP21.2m).


Overall, Group trading profit was 2.2% below that of 2007 at GBP31.2m
(2007: GBP31.9m). The impact of significant one off items, (largely relating to
restructuring and movements in fair value of exchange contracts), left
operating profit at GBP23.1m (2007: GBP30.2m), pre-tax profit at GBP9.6m
(2007: GBP21.5m) and the post-tax profit for the year at GBP5.5m
(2007: GBP14.3m).


Basic earnings per share at 6.62p (2007:17.32p) was down 61.8% on 2007, however,
the pre-exceptional level was 13.43p per share (2007: 18.78p), down 28.5%.


The Group's net cash inflow from operating activities was GBP22.6m, down by
36.3% on 2007 (2007:GBP35.5m).


One impact of the dramatic change in direction of some of our markets during the
year was an almost overnight swing from a shortage of supply of raw materials,
to a major overstock. Changing the Group's focus towards stock reduction in
these conditions and in industries with traditionally long lead times, was very
demanding. Fortunately, we started the programme of lead time reduction in the
Undercarriage division some time ago and were able to adapt this to drive the
necessary stock reduction.


In all parts of the Group, we cut back raw material input in advance of customer
cutbacks and eliminated all but essential health and safety and quality related
capital expenditure. Despite early action in these areas, there exists a
significant time delay before the impact is felt in the Group's cash position.


Net debt at the year end was GBP158.2m (2007: GBP120.2m). This again was
significantly impacted by exchange rates; net debt at 2007 exchange rates would
be GBP121.5m, as the majority of the Group's debt is in Euros, reflecting the
Group's trading activities being heavily skewed to the Euro zone. The impact of
exchange rates on net debt is further explained in note 2.


The Group's property, plant and equipment had a net book value of GBP171.0m
(2007: GBP140.0m) being mainly freehold land and buildings, and plant and
machinery.
Operations


The global downturn in industrial activity has not changed the outstanding
quality of our physical assets and human resources. The Group has manufacturing
plants in Europe, South America, North America and Australia, many of which
command major market shares in industry sectors with a high cost of entry and
significant shipping cost barriers for non-indigenous manufacturers.


The Group's technical excellence continues to ensure that its sales are
dependant not only on price and quality, but the ability of our engineers to
'design & build' unique solutions to meet our customers' needs.


Wheels division


Our agricultural Wheels business had a strong order book throughout the year,
with cutbacks only starting to become apparent in December 2008.


Our large agricultural wheel factory located in Northern Italy serves the major
manufacturers of tractors and combine harvesters. Demand for these products has
been generally at very high levels, and, at the same time, the horsepower and
therefore the size of wheels and tyres, has been increasing. Consequently in
2007 this put considerable pressure on our manufacturing capacity. In August
2008, we completed the installation of our new rim-line with robotic handling
which has relieved the capacity pressure, increased our flexibility and set a
new standard for the manufacture of agricultural rims.


Volume was also high in our French and Turkish (joint venture) agricultural
wheel factories and despite pressure on material pricing and supply, we were
able to give customers an outstanding service throughout the year.


The European earthmoving wheel business located in Kidderminster, UK, also saw
volumes at very high levels through the first nine months of the year; however,
the final quarter decline was very dramatic. With the cooperation of trade
unions and suppliers, the management team has been able to restructure the
business efficiently and effectively to deal with much lower levels of volume.


Our operations in Australia did not see any significant impact in volumes during
the year and this continues to be a potential area of growth, particularly in
the OVM giant mining wheels, where supply agreements are being finalised with
Caterpillar.


Our operations in Chile and Peru were also almost unaffected to the end of the
year under review.


We had expected reductions in volume in the above three operational territories
and therefore made substantial cost reductions and cash conservation plans with
the emphasis moving from expansion to caution.


Although not a part of our Wheels division, our Associate Company, Wheels India
Limited ('Wheels India'), in which we hold a 35.9% equity stake has seen a
dramatic shift in its fortunes. Wheels India provides a significant proportion
of all types of wheels used in India. The truck and automotive sectors have been
particularly badly hit and the Company has also been affected by exchange rate
issues. The share of results recognised this year is shown in note 2 and shows
our share of unfavourable movements in mark to market valuations on exchange
rate contracts is GBP2.3m loss (2007: GBP0.2m profit).


We continue to see India as a significant focus for growth and believe that the
current market setbacks will not damage the basic fabric of the business.
Undercarriage division


Our Undercarriage division certainly has had a tough year. Volume in
manufacturing was already depressed with the reduction in sales into North
America.


Reductions in capacity and a plant closure were planned and effected early in
the 2008 year, but these did not fully compensate for the further volume
reductions experienced in the third and more dramatically, the fourth quarter of
2008.


In places where markets remained strong, we had the additional complications of
very difficult supply conditions for steel. The Undercarriage division buys a
wider range of steels than the Wheel division and has longer lead times. There
is also a wider range of end product types and dimensions within each material
type and so 'take it or leave it' price increases and quantity allocation from
steel suppliers does not lead to efficient operation.


Our customers for undercarriage were to an extent receptive to our need for
input cost recovery, but the wider range of customers along with other factors
meant that we were slower in recovering margin.


By the time this was done, the volume decline was beginning and customers again
were looking for the return to earlier price levels as steel prices collapsed.
We have generally been able to convince major customers that we ordered steel at
the high prices to meet their schedules and that these prices must be honoured
until stocks have washed through. Whilst the operating environment was
difficult, we continued our programme of change in the Undercarriage division.


The focus on a European business based on engineering excellence and giving our
major customers a 'design & build' solution for their complete undercarriage
needs, has continued.


We have moved further to create a 'Centre of Excellence' for engineering in our
facility at Gevelsberg, Germany, with fully assembled frame business supplied
from there and from Intertractor Americas location in Elkhorn, Wisconsin. This
engineering resource is able to focus on large scale applications and we are
also expecting to move our manufacturing facilities in a similar direction.


Since acquisition in 2005 we have created a very efficient and competitive
manufacturing operation in Atibaia, Brazil, making smaller components for
undercarriage vehicles.


The Italian manufacturing plants are being re-engineered to focus on mid to
large range product with a more flexible process system using less work in
progress with shorter lead times.


Our plans for a manufacturing facility in China supporting our European and
American Original Equipment Manufacturers (OEM's) in their Asian build
facilities are complete - the Chinese Government approvals are in place, as is
the factory building. The pace of this development may be moderated by the
impact of the global recession, but it remains an essential part of our plan for
a balanced undercarriage business.


Other developments on which we have reported in the past - such as mining and
service centres, are working well and will be a blue print for the future.


In all, the Undercarriage division has been transformed since its acquisition by
Titan Europe on 29 December 2005.
Revenue by geographical destination and market (including share of joint
venture)


+-----------------------------+----------------+----------------+----------------+
| | Unaudited | Unaudited | |
+-----------------------------+----------------+----------------+----------------+
| | Year ended | Year ended | Year ended |
+-----------------------------+----------------+----------------+----------------+
| | 31 December | 31 December | 31 December |
| | 2008 | 2008 at 2007 | 2007 |
| | | rates | |
+-----------------------------+----------------+----------------+----------------+
| | GBPm | GBPm | GBPm |
+-----------------------------+----------------+----------------+----------------+
| Destination | | | |
+-----------------------------+----------------+----------------+----------------+
| UK | 20.7 | 19.0 | 24.1 |
+-----------------------------+----------------+----------------+----------------+
| Europe | 264.8 | 233.7 | 221.3 |
+-----------------------------+----------------+----------------+----------------+
| North America | 55.2 | 50.3 | 60.4 |
+-----------------------------+----------------+----------------+----------------+
| South America | 28.6 | 24.9 | 19.2 |
+-----------------------------+----------------+----------------+----------------+
| Rest of the World | 87.4 | 76.9 | 63.5 |
+-----------------------------+----------------+----------------+----------------+
| Total revenue | 456.7 | 404.8 | 388.5 |
+-----------------------------+----------------+----------------+----------------+


+-----------------------------+----------------+----------------+----------------+
| | Unaudited | Unaudited | |
+-----------------------------+----------------+----------------+----------------+
| | Year ended | Year ended | Year ended |
+-----------------------------+----------------+----------------+----------------+
| | 31 December | 31 December | 31 December |
| | 2008 | 2008 at 2007 | 2007 |
| | | rates | |
+-----------------------------+----------------+----------------+----------------+
| | GBPm | GBPm | GBPm |
+-----------------------------+----------------+----------------+----------------+
| Market | | | |
+-----------------------------+----------------+----------------+----------------+
| Agricultural | 116.6 | 101.9 | 79.8 |
+-----------------------------+----------------+----------------+----------------+
| Construction | 251.4 | 225.9 | 242.1 |
+-----------------------------+----------------+----------------+----------------+
| Mining | 81.8 | 71.4 | 63.4 |
+-----------------------------+----------------+----------------+----------------+
| Other | 6.9 | 5.6 | 3.2 |
+-----------------------------+----------------+----------------+----------------+
| Total revenue | 456.7 | 404.8 | 388.5 |
+-----------------------------+----------------+----------------+----------------+


Revenue and trading profit by division


+--------------------------------+---------------+---------------+---------------+
| | Unaudited | Unaudited | |
+--------------------------------+---------------+---------------+---------------+
| | Year ended | Year ended | Year ended |
+--------------------------------+---------------+---------------+---------------+
| | 31 December | 31 December | 31 December |
| | 2008 | 2008 at 2007 | 2007 |
| | | rates | |
+--------------------------------+---------------+---------------+---------------+
| | GBP'000 | GBP'000 | GBP'000 |
+--------------------------------+---------------+---------------+---------------+
| Revenue | | | |
+--------------------------------+---------------+---------------+---------------+
| Wheels (including share of | 197,224 | 178,598 | 144,824 |
| joint venture) | | | |
+--------------------------------+---------------+---------------+---------------+
| Undercarriages | 259,526 | 226,248 | 243,634 |
+--------------------------------+---------------+---------------+---------------+
| Revenue including share of | 456,750 | 404,846 | 388,458 |
| joint venture | | | |
+--------------------------------+---------------+---------------+---------------+
| Less share of joint venture | (4,437) | (4,064) | (2,644) |
+--------------------------------+---------------+---------------+---------------+
| Group revenue | 452,313 | 400,782 | 385,814 |
+--------------------------------+---------------+---------------+---------------+
| Trading profit | | | |
+--------------------------------+---------------+---------------+---------------+
| Wheels (excluding share of | 22,571 | 20,735 | 10,657 |
| joint venture) | | | |
+--------------------------------+---------------+---------------+---------------+
| As a percentage of revenue | 11.7% | 11.9% | 7.5% |
+--------------------------------+---------------+---------------+---------------+
| Undercarriages | 8,593 | 7,760 | 21,212 |
+--------------------------------+---------------+---------------+---------------+
| As a percentage of revenue | 3.3% | 3.4% | 8.7% |
+--------------------------------+---------------+---------------+---------------+
| Group trading profit | 31,164 | 28,495 | 31,869 |
+--------------------------------+---------------+---------------+---------------+


Dividend
As we indicated in our trading update on 20 February 2009, the Board is not
proposing a final dividend. The interim dividend of 2.17p makes a total for the
year of 2.17p (2007: 6.50p). As part of the new amendment and restatement
agreement with our primary bankers Banca Intesa SpA and Unicredit SpA no
dividend distributions will be made until after the Company has re-commenced
payments of the loan in January 2011 and are subject to the Company achieving a
leverage ratio of 3.5:1 or less.


2009 Outlook
Timing in market conditions, material pricing and product price recovery all
acted against the Undercarriage division in 2008, but we expect to see a
considerable levelling out in 2009. Unfortunately in 2009, it will be the Wheels
division that will feel the impact of reduced volumes.


As reported in our February 2009 trading update, we have reduced our forecast
sales volumes for the Group for the year to 30% below those achieved in 2008.


In light of this reduction, we are continuing our programme of scaling back
material inputs, manufacturing, people and investment plans in order to re-align
our cost base to reflect the more challenging markets our industry is
experiencing. Fixed costs are being reduced throughout the Group but care is
being taken to preserve the Group's resources and investment in engineering,
quality and technical sales.
Post year-end events


Substantial shareholdings


During January 2009, the Company was informed that Mefro Wheels GmbH had
increased their shareholding in the Company to 24,788,853 ordinary shares,
representing 29.81 per cent of the issued share capital of the Company. In the
same month the Company was informed that Titan Luxembourg Sarl, a subsidiary of
Titan International, Inc., bought 4,687,197 ordinary shares in the Company.
Following these purchases, Titan Luxembourg Sarl has an interest in a total of
18,993,821 ordinary shares representing approximately 22.89 per cent. of the
issued share capital of the Company.


Renegotiation of banking facilities


During May 2009, the Group has renegotiated the Group's banking facilities with
Banca Intesa SpA and Unicredit SpA. The revised facility agreement for
EUR110,000,000 includes no further repayments of capital in 2009 and 2010, the
first payment will now be made in January 2011 and the final repayment is
extended by two years to October 2015. The agreement includes revised covenants
reflecting the Group's revised business plan. The substantive agreement
(amendment and restatement agreement relating to the ITO and ITM EUR110.0m
facilities agreement) was signed on 19 May 2009.

Treacle28 - 22 May 2009 07:37 - 87 of 100

Excellent results imo. New news about the banking facility too and trading on a p/e of less than 2 is unbelievable. Should see massive correction now imo to around 1.00 levels and possibly more directors buying, Titan Inc. buying, and Mefro also having some say.

Treacle28 - 22 May 2009 09:30 - 88 of 100

Up 15% thus far on v.strong volume.

Treacle28 - 22 May 2009 12:49 - 89 of 100

Record revenue at Titan Europe
Fri 22 May 2009

LONDON (SHARECAST) - Titan Europe, a producer of wheels for the construction and agricultural markets, posted record sales in 2008 and has renegotiated its primary banking facilities.

Revenue rose 17.2% to 452.3m in the 12 months of 2008 thanks to exchange rate moves, although pre-tax profit fell on weaker margins and one-off items to 9.6m from 21.5m in 2007. Trading profit fell 2.2% to 31.2m.

In February, the firm reduced its forecast sales volumes for the year to 30% below 2008. As such, Titan is continuing to scale back material inputs, manufacturing, people and investment plans.

In the current situation, your board believes that the business will be well placed to take advantage of opportunities in our industry as markets recover, it said.

http://www.sharecast.com/cgi-bin/sharecast/story.cgi?story_id=2793713

Treacle28 - 23 May 2009 15:35 - 90 of 100

Titan Europe Director/PDMR Shareholding

TIDMTSW

RNS Number : 7550S
Titan Europe PLC
22 May 2009

?
Titan Europe plc
(the "Company")


Director's Holding

The Company announces that on 22 May 2009 Steel Wheels Executive Pension Fund
bought 42,000 Ordinary Shares at 25.5p per share on behalf of Mike Akers, a
Director of the Company.


Following this, Mr. Akers has an interest in a total of 652,000 ordinary shares
representing 0.79 per cent. of the issued share capital of the Company.


This information is provided by RNS
The company news service from the London Stock Exchange
END

Treacle28 - 23 May 2009 15:39 - 91 of 100

Breaking out on Volume with finals out now:-

big.chart?symb=uk%3Atsw&compidx=aaaaa%3A

Treacle28 - 23 May 2009 15:56 - 92 of 100


Record revenue at Titan Europe

22/05/2009
London City news: Record revenue at Titan Europe

Titan Europe, a producer of wheels for the construction and agricultural markets, posted record sales in 2008 and has renegotiated its primary banking facilities.

Revenue rose 17.2% to 452.3m in the 12 months of 2008 thanks to exchange rate moves, although pre-tax profit fell on weaker margins and one-off items to 9.6m from 21.5m in 2007. Trading profit fell 2.2% to 31.2m.

In February, the firm reduced its forecast sales volumes for the year to 30% below 2008. As such, Titan is continuing to scale back material inputs, manufacturing, people and investment plans.

"In the current situation, your board believes that the business will be well placed to take advantage of opportunities in our industry as markets recover," it said.

http://www.cityam.com/index.php?news=34991

Treacle28 - 24 May 2009 10:39 - 93 of 100

As well as the confirmation after close on Friday about the director buying 42,000 shares, there were lots of 50K buys = 14,000 throughout the day on Friday. 3 in succession towards close too at 28p which suggests someone else has also been increasing their stake. All of them were put through as ordinary trades (O). Await confirmation!

08:53 (22/05) 27.50 50000 purchase
08:53 (22/05) 27.50 50000 purchase
12:39 (22/05) 27.20 50000 purchase
16:08 (22/05) 28.00 50000 purchase
16:08 (22/05) 28.00 50000 purchase
16:09 (22/05) 28.00 50000 purchase

http://www.hemscott.com/companies/share-trades.do?companyId=4586

Treacle28 - 26 May 2009 08:13 - 94 of 100

Another big trade, 100,000 buy showing at 27.72 pence at 17:42 on Friday.

Treacle28 - 17 Jul 2009 10:15 - 95 of 100

Back in this morning again and possible consolidation over now and on the way back upto the 30s.

goldfinger - 06 Oct 2010 10:13 - 96 of 100

Titan Europe TSW

Nice move up this morning going first to take out the spike at 84p. After that pretty much blue sky.

titan%203.JPG

Energeticbacker - 21 Oct 2010 18:26 - 97 of 100

Great results from Caterpillar (NYSE: CAT) good read across for Titan Europe (LON:TSW)?
On the blog at www.investorschampion.com

Juzzle - 12 Jan 2011 09:02 - 98 of 100

nice breakout this week

dreamcatcher - 19 Aug 2012 12:25 - 99 of 100

MIDAS UPDATE: Shares of tip Titan Europe rise 171% but don’t sell yetBy Joanne Hart
PUBLISHED: 21:26, 18 August 2012 | UPDATED: 10:50, 19 August 2012


..
Titan Europe’s shares have risen 171 per cent from 45p to 121¾p since Midas recommended them in July 2010, not least because last month the board recommended a bid from Titan Inc of America.


http://www.dailymail.co.uk/money/markets/article-2190303/MIDAS-UPDATE-Shares-tipTitan-Europe-rise-171-don-t-sell-yet.html#ixzz23zRweqHl

dreamcatcher - 21 Aug 2012 16:35 - 100 of 100

Good performance today.
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