News Release from Titan International, Inc.
August 2, 2007 TITAN WELCOMES INITIATION OF ANTIDUMPING AND COUNTERVAILING DUTY
INVESTIGATIONS ON OTR TIRES FROM CHINA
QUINCY, Ill.—Titan International Inc. welcomed the U.S. Department of Commerce's decision today to initiate antidumping and countervailing duty investigations on new pneumatic off-the-road tires from China. The investigations were initiated in response to petitions filed jointly by Titan and the United Steelworkers union in June of this year.
"Today's decision to investigate unfair trade practices in China is an important first step in the right direction," said Titan Chairman and CEO Maurice M. Taylor. "Dumping and government subsidies have given Chinese tire producers an unfair advantage in our market, and it is the U.S. industry and American workers who have suffered as a result.
"Titan is committed to ensuring that trade is fair," said Taylor. "If these investigations confirm that unfair subsidies and dumping have been occurring, it could result in the imposition of duties on tire imports from China to offset the harm that such practices cause in our market. By enforcing U.S. trade laws, we can make sure that everyone plays by the same rules and start to level the playing field for the U.S. tire industry and its workers."
Preliminary determinations in the investigations are due in October and December of this year.
Titan International, Inc. (NYSE: TWI), a holding company, owns subsidiaries that supply wheels, tires and assemblies for off-highway equipment used in agricultural, earthmoving/construction and consumer (including all terrain vehicles and trailers) applications.
Contact: Courtney Leeser
Communications Coordinator
(217) 221-4489 |
