Fire Damages Tire Reclamation Facility in Alberta, Canada

QUINCY, Ill., Sept. 27, 2017 /PRNewswire/ -- Titan International, Inc. (Titan) (NYSE: TWI) announced today that at approximately midnight MST on September 21, 2017, a fire broke out at the Titan Tire Reclamation Corporation (TTRC) facility in Fort McMurray, AB. No staff members or others were injured. The facility contains six thermal vacuum recovery (TVR) units, which are large, contained capsules used to recycle large mining tires. The fire started within one of the TVR units and was contained to a building housing three of the TVR units. Currently, the TTRC staff are working with affected customers to minimize the impact to their respective businesses. Three other TVR units located in another building were not affected. Titan carries both casualty and property insurance for its facilities and equipment, as well as business interruption insurance, and is reviewing the extent and scope of this coverage with its insurance carriers.

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