Titan International Sells ITM Undercarriage Business to USCO

Titan International, Inc. entered into a definitive agreement to sell its Italtractor ITM undercarriage business to USCO S.p.A. The transaction is expected to generate up to $285 million in total cash value, which includes an initial purchase price of $207 million, $49 million in dividends, $23 million in customary adjustments, and a potential $6 million earnout based on 2026 performance.

Titan plans to use the proceeds to reduce existing debt and invest in its core global wheel and tire operations for the consumer, construction, and agricultural markets. The company also intends to explore new acquisitions and expand into the defense sector. For USCO, the acquisition adds a global network for undercarriage components and a strong track manufacturing business.

The deal is expected to close in early January 2027, pending regulatory approvals. Paul Reitz, President and CEO of Titan International, described the transaction as an important step in the company's transformation.