-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, J3r5SesvCQ01sOeYlRk6udeWtjkQ5F/UxhUGwtagsKS78vwv+iXMJ6Fne9GMeY7w NnBqfUkvU6lo4PNIWRt8ag== 0000899751-07-000067.txt : 20071114 0000899751-07-000067.hdr.sgml : 20071114 20071114172913 ACCESSION NUMBER: 0000899751-07-000067 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20071114 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20071114 DATE AS OF CHANGE: 20071114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: TITAN INTERNATIONAL INC CENTRAL INDEX KEY: 0000899751 STANDARD INDUSTRIAL CLASSIFICATION: STEEL WORKS, BLAST FURNACES ROLLING MILLS (COKE OVENS) [3312] IRS NUMBER: 363228472 STATE OF INCORPORATION: IL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-12936 FILM NUMBER: 071246813 BUSINESS ADDRESS: STREET 1: 2701 SPRUCE ST CITY: QUINCY STATE: IL ZIP: 62301 BUSINESS PHONE: 2172286011 MAIL ADDRESS: STREET 1: 2701 SPRUCE ST CITY: QUINCY STATE: IL ZIP: 62301 FORMER COMPANY: FORMER CONFORMED NAME: TITAN WHEEL INTERNATIONAL INC DATE OF NAME CHANGE: 19930403 8-K 1 form8k.htm TITAN INTERNATIONAL, INC. FORM 8-K NOVEMBER 14, 2007 form8k.htm





UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C.  20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):  November 14, 2007

 
TITAN INTERNATIONAL, INC.
(Exact name of Registrant as specified in its Charter)


Illinois
1-12936
36-3228472
(State of Incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)

2701 Spruce Street, Quincy, IL 62301
 (Address of principal executive offices, including Zip Code)

(217) 228-6011
(Registrant’s telephone number, including area code)


Check the appropriate box below if the Form 8-K filling is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
 

 

 
INFORMATION TO BE INCLUDED IN THIS REPORT
 
 
Item 7.01
REGULATION FD DISCLOSURE
 
 
Titan International, Inc.’s Chairman & CEO, Maurice M. Taylor’s letter to Titan stockholders dated November 14, 2007.
 

Item 9.01                      FINANCIAL STATEMENTS AND EXHIBITS
 
 
(c)           Exhibits
 
 
99
Titan International, Inc.’s Chairman & CEO, Maurice M. Taylor’s letter to Titan stockholders dated November 14, 2007.
 
 

 
 

 



SIGNATURE


Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




 
TITAN INTERNATIONAL, INC.
 
(Registrant)

Date:
November 14, 2007
By:
/s/ Kent W. Hackamack
     
Kent W. Hackamack
     
Vice President of Finance and Treasurer
     
(Principal Financial Officer)
       

 
 

 

EXHIBIT INDEX


Exhibit No.
Description
   
99
Titan International, Inc.’s Chairman & CEO, Maurice M. Taylor’s letter to Titan stockholders dated November 14, 2007.
 
 

 



EX-99 2 ex99.htm LETTER TO STOCKHOLDERS ex99.htm

 
Exhibit 99
 

November 14, 2007



Dear Stockholder:

Enclosed you will find an article that appeared in the November 6, 2007, Wall Street Journal.

This article sums up why I believe the farm economy will be a three to five year growth story over today. I also believe the mining business will stay strong for three to five years out. Anyone who is in manufacturing today in the U.S.A. should also see growth because of the dollar being where it is.

If you are ever in the area of one of Titan’s production facilities please stop in for a tour. Titan’s facilities are located in Quincy, Illinois; Freeport, Illinois; Des Moines, Iowa; Bryan, Ohio, and Saltville, Virginia.

Best regards,

/s/ Maurice Taylor Jr.
 
Maurice Taylor Jr.
Chairman/CEO
Titan International Inc.

TITAN INTERNATIONAL INC.
2701 SPRUCE STREET • QUINCY, ILLINOIS 62301
(217) 228-6011 • FAX: (217) 228-3166




Wall Street Journal
November 6, 2007; Page D5

Farm Output Struggles to Match Demand
By Lauren Etter
 
Agricultural production is struggling to keep pace with demand as diets improve around the world and agricultural products become more central to energy markets, according to a report being released today by Credit Suisse Group.
The structural changes in agriculture markets mean commodity prices, and therefore consumer food prices, will continue to stay aloft over coming years, with emerging markets feeling more of the burden since a larger slice of their spending is more heavily weighted toward food, the report says. However, net agriculture exporters, like Brazil and Malaysia, and foreign food companies with lower labor costs could benefit.
Demand is largely being driven by changing dietary habits, the report says, as growing populations in developing countries consume more meat and more calories. Exacerbating the situation is the advent of biofuels. The report estimates that crops grown to meet government biofuel mandates world-wide will account for 12% of total arable and permanent cropland over the next 10 to 15 years, up from about 2% today.
The change in dietary patterns alone means food production needs to grow at 2.5% per year just to keep pace over the next five to eight years, the report says. To meet global food and biofuels demand, overall agricultural production will need to grow 3.3% annually. Historically, global food production has risen 2.3% annually.
Rising commodity prices are likely to continue pressuring food processors’ profit margins even though the report notes that on average only about 20% of the value of an individual food item is directly related to commodity prices, or farm value. The remaining 80% largely goes to labor, transportation and packaging. Companies with strong brand recognition will be insulated more than less-branded businesses.
A kernel of good news for biofuels producers: Over the next year, low ethanol prices could recover with the addition of new ethanol markets in the Southeast and improved biofuels transportation and blending infrastructure. However, corn prices are expected to stay high.
Adding pressure to current demand is a slowing growth rate in land availability due to land degradation and urbanization. The amount of arable land in China has dropped about 6% over the past decade because of urbanization. In the U.S., some potentially productive cropland will likely remain tied up in what is known as the Conservation Reserve Program, which sets aside crop land to protect the environment.
The limited ability to access new land for agricultural purposes means more emphasis will likely be placed on genetically modified products, which could help boost yields for food and energy crops. Also the increasing demand for biofuels could pressure countries to reduce their biofuels mandates as a way to alleviate pressure on food prices. Already China has reduced its biofuels target to two million tons of biofuels production by 2010, down from five million tons.


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