QUINCY, Ill., June 28, 2021 /PRNewswire/ -- Titan
International, Inc. (NYSE: TWI) ("Titan" or the "Company")
announced that it has been added as a member of the broad-market
Russell 3000® Index, effective after
the US market opened today, as part of the 2021 Russell indexes
reconstitution.
"We are pleased with the addition to the Russell 3000 Index,"
stated Paul Reitz, President and
Chief Executive Officer of Titan. "Inclusion in this index further
highlights the progress we have made during the past twelve months
and should assist in continuing to expand our reach and support
greater awareness of Titan within the investment community."
Annual reconstitution of the Russell indexes captures the 4,000
largest US stocks as of May 7,
ranking them by total market capitalization. Membership in the
Russell 3000® Index, which remains in place for one
year, means automatic inclusion in the large-cap Russell
1000® Index or small-cap Russell
2000® Index as well as the appropriate
growth and value style indexes. FTSE Russell determines membership
for its Russell indexes primarily by objective,
market-capitalization rankings and style attributes.
Russell indexes are widely used by investment managers and
institutional investors for index funds and as benchmarks for
active investment strategies. Approximately $10.6 trillion in assets are benchmarked against
Russell's US indexes. Russell indexes are part of FTSE Russell, a
leading global index provider. For more information on the Russell
2000® Index and the Russell indexes reconstitution, go
to the "Russell Reconstitution" section on the FTSE Russell
website.
Safe harbor statement:
This press release contains
forward-looking statements. These forward-looking statements are
covered by the safe harbor for "forward-looking statements"
provided by the Private Securities Litigation Reform Act of 1995.
The words "believe," "expect," "anticipate," "plan," "would,"
"could," "potential," "may," "will," and other similar expressions
are intended to identify forward-looking statements, which are
generally not historical in nature. These forward-looking
statements are based on our current expectations and beliefs
concerning future developments and their potential effect on us.
Although we believe the assumptions upon which these
forward-looking statements are based are reasonable, these
assumptions are subject to significant risks and uncertainties, and
are subject to change based on various factors, some of which are
beyond Titan International, Inc.'s control. As a result, any of
these assumptions could prove to be inaccurate and the
forward-looking statements based on these assumptions could be
incorrect, and actual results may vary materially from those
indicated or anticipated by such statements. The inclusion of such
statements should not be regarded as a representation of such
plans, estimates or expectations will be achieved. The matters
discussed in these forward-looking statements are subject to risks,
uncertainties, and other factors that could cause actual results
and trends to differ materially from those made, projected, or
implied in or by the forward-looking statements depending on a
variety of uncertainties or other factors including, but not
limited to, the continued effect of the COVID-19 pandemic on our
operations and financial performance; changes in the Company's
end-user markets into which the Company sells its products as a
result of domestic and world economic or regulatory influences or
otherwise; changes in the marketplace, including new products and
pricing changes by the Company's competitors; the Company's ability
to maintain satisfactory labor relations; unfavorable outcomes of
legal proceedings; the Company's ability to comply with current or
future regulations applicable to the Company's business and the
industry in which it competes or any actions taken or orders issued
by regulatory authorities; availability and price of raw materials;
levels of operating efficiencies; the effects of the Company's
indebtedness and its compliance with the terms thereof; changes in
the interest rate environment and their effects on the Company's
outstanding indebtedness; unfavorable product liability and
warranty claims; actions of domestic and foreign governments,
including the imposition of additional tariffs; geopolitical and
economic uncertainties relating to the countries in which the
Company operates or does business; risks associated with
acquisitions, including difficulty in integrating operations and
personnel, disruption of ongoing business, and increased expenses;
results of investments; the effects of potential processes to
explore various strategic transactions, including potential
dispositions; fluctuations in currency translations; risks
associated with environmental laws and regulations; risks relating
to our manufacturing facilities, including that any of our material
facilities may become inoperable; risks relating to financial
reporting, internal controls, tax accounting, and information
systems; and the other risks and factors detailed in the Company's
periodic reports filed with the Securities and Exchange Commission,
including the disclosures under "Risk Factors" in those reports.
These forward-looking statements are made only as of the date
hereof. The Company cautions that any forward-looking statements
included in this press release are subject to a number of risks and
uncertainties, and the Company undertakes no obligation to publicly
update or revise any forward-looking statements, whether as a
result of new information, changed circumstances or future events,
or for any other reason, except as required by law.
About Titan
Titan International, Inc. (NYSE: TWI) is a
leading global manufacturer of off-highway wheels, tires,
assemblies, and undercarriage products. Headquartered in
Illinois, the Company globally
produces a broad range of products to meet the specifications of
original equipment manufacturers (OEMs) and aftermarket customers
in the agricultural, earthmoving/construction, and consumer
markets. For more information, visit www.titan-intl.com.
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SOURCE Titan International, Inc.