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(TSW.L) Titan Europe PLC Buy/Sell
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| Date/Time | Headline | Source |
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| 06-11-09 | RNS |
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RNS Number : 1073C Titan Europe PLC 06 November 2009 Date: 6 November 2009 Immediate Release Titan Europe Plc ("the Group" or "Titan Europe") Trading Update Titan Europe provides the following trading update: Trading As predicted in the Group's interim report published in August 2009, revenue for Q3 2009 remained weak having continued to be impacted by both the underlying weakness in our customers end markets and by extended holidays and shutdowns across our European customer base. Whilst in August it was also expected that the last quarter of the current financial year ending December 2009 would be stronger, it has now become clear that this anticipated upturn which had been built into schedules by some of the Group's customers, was premature and on this basis, we believe that Q4 2009 will continue to reflect weak demand. However, we believe that Q3 2009 represented the bottom of our market. This being said, it is now widely understood within the industries which we supply that 2009 end user sales have been significantly higher than equipment manufacturers' build rates and that without any end-market increase, volumes of manufacture for our market segments must rise next year. Currently, Titan Europe's Q1 2010 customer schedules reflect this. As reported on 14 August 2009, Titan Europe's revenue for the six months ended 30 June 2009 was £149.2 million with a trading loss of £3.9 million. At that time, the Directors of Titan Europe expected the Q4 2009 upturn to leave the Group's full year revenue roughly double those of the first half numbers reported. However, as already stated the Q3 2009 sales level was very weak and at this stage we now forecast that Q4 2009 will be only slightly better. Our programme of reducing fixed costs, both in terms of physical assets and also, unavoidably, personnel has continued. As part of this programme, there have been substantial changes in manufacturing methods which has resulted in greater flexibility, faster changeover times and lower inventory costs. The main impact of the recession in our industry sectors namely; agriculture, construction and mining equipment is being felt in Europe and North America, but our Australian and South American businesses are fairing relatively well. Equally, the main areas for restructuring of manufacturing resource have been in the 'traditional' manufacturing base of Western Europe, particularly Italy. We expect to continue the programme of locating production into new growth areas and as a result, this will have a permanent impact on some of our more traditional manufacturing supply routes. We are continuing our Chinese development for undercarriage manufacture which we see as a major growth area and a key driver for future profits. Our initial focus is on servicing the Chinese manufacturing plants of our existing 'Western' customers. Our Indian associate Wheels India has seen a significant improvement in performance. Outlook The Group is maintaining its net debt targets and continues to see encouraging signs that its strategy of strengthening customer relations with strong technical support is attracting additional business, albeit at much lower overall levels. In the short-term, the Board expects to see agriculture and mining investment reviving faster than the construction industry and consequently as a business, the Group is tailoring its product offering to suit this expectation.
Enquiries:
Mike Akers, Chief Executive
Director
<HR>--------------------------------------- This information is provided by RNS The company news service from the London Stock Exchange END
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| 25-09-09 | RNS |
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RNS Number : 6968Z Titan Europe PLC 25 September 2009 Issued by Citigate Dewe Rogerson, Birmingham Date: Friday 25 September 2009 Immediate Release Titan Europe Plc Titan International, Inc. ('Titan') a major shareholder in Titan Europe Plc ('Titan Europe') has announced that it has signed a letter of intent with The Goodyear Tire & Rubber Company to purchase certain farm tyre assets, including the Goodyear Dunlop Tires France (GDTF) Amiens North factory. This agreement is non-binding and will be subject to GDTF's satisfactory completion of a social plan related to consumer tyre activity at the Amiens North facility, along with completion of due diligence, a definitive acquisition agreement and other standard acquisition approval requirements. Chairman and CEO of Titan International, Inc., Maurice M. Taylor Jr, who is also Non-Executive Chairman of Titan Europe said: "Titan International, Inc. maintains its focus and specialty in the farm and off-the-road wheel and tyre business and we hope GDTF can come to an expedient arrangement with the Central Works Council in France. If this can be done, the process will move forward."
Enquiries:
Gary Chesterton, Group Finance Director Tel: (00)1 217 221-4489
Tel: +44 (0) 1562 850561
Editors Notes 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) applications. For more information, visit www.titan-intl.com. Titan International, Inc. has an interest in 18,993,821 ordinary shares in Titan Europe Plc which represents 22.9% of Titan Europe's ordinary share capital in issue. Titan Europe Plc (LSE: AIM:TSW.L) is a world leading engineering group designing, developing, manufacturing and distributing products and services for the global mining, construction and agricultural machinery markets. It has two distinct product ranges, organised into two divisions, Wheels and Undercarriages. For more information, visit www.titaneurope.com. Mike Akers, Chief Executive of Titan Europe is also a Director on the Board of Titan International, Inc. This information is provided by RNS The company news service from the London Stock Exchange END
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| 18-09-09 | RNS |
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RNS Number : 3434Z Titan Europe PLC 18 September 2009 A second and final Price Monitoring Extension has been activated in this security. The closing auction call period is extended in this security for a further 5 minutes. Following the first price monitoring extension this security would still execute more than a pre-determined percentage above or below the price of the previous automated execution today. London Stock Exchange electronic order book users have a final opportunity to review the prices and sizes of orders entered in this security prior to the auction call execution which will set today's closing price. The applicable percentage is set by reference to a security's TradElect sector. This is set out in the Sector Breakdown tab of the TradElect Parameters document at www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices</f ipP> This information is provided by RNS The company news service from the London Stock Exchange END
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| 18-09-09 | RNS |
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RNS Number : 3410Z Titan Europe PLC 18 September 2009 Today's closing auction call period has been extended in this security by 5 minutes. Auction call extensions give London Stock Exchange electronic order book users a further opportunity to review the prices and sizes of orders entered in an individual security during the initial auction call before the execution occurs. A price monitoring extension is activated when the matching process would have otherwise resulted in an execution price that is a pre-determined percentage above or below the price of the last automated execution today. The applicable percentage is set by reference to a security's TradElect sector. This is set out in the Sector Breakdown tab of the TradElect Parameters document at www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices</f ipP> This information is provided by RNS The company news service from the London Stock Exchange END
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| 14-09-09 | RNS |
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RNS Number : 0332Z Titan Europe PLC 14 September 2009 A second and final Price Monitoring Extension has been activated in this security. The closing auction call period is extended in this security for a further 5 minutes. Following the first price monitoring extension this security would still execute more than a pre-determined percentage above or below the price of the previous automated execution today. London Stock Exchange electronic order book users have a final opportunity to review the prices and sizes of orders entered in this security prior to the auction call execution which will set today's closing price. The applicable percentage is set by reference to a security's TradElect sector. This is set out in the Sector Breakdown tab of the TradElect Parameters document at www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices</f ipP> This information is provided by RNS The company news service from the London Stock Exchange END
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| 14-09-09 | RNS |
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RNS Number : 0324Z Titan Europe PLC 14 September 2009 Today's closing auction call period has been extended in this security by 5 minutes. Auction call extensions give London Stock Exchange electronic order book users a further opportunity to review the prices and sizes of orders entered in an individual security during the initial auction call before the execution occurs. A price monitoring extension is activated when the matching process would have otherwise resulted in an execution price that is a pre-determined percentage above or below the price of the last automated execution today. The applicable percentage is set by reference to a security's TradElect sector. This is set out in the Sector Breakdown tab of the TradElect Parameters document at www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices</f ipP> This information is provided by RNS The company news service from the London Stock Exchange END
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| 11-09-09 | RNS |
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RNS Number : 9588Y Titan Europe PLC 11 September 2009 A second and final Price Monitoring Extension has been activated in this security. The closing auction call period is extended in this security for a further 5 minutes. Following the first price monitoring extension this security would still execute more than a pre-determined percentage above or below the price of the previous automated execution today. London Stock Exchange electronic order book users have a final opportunity to review the prices and sizes of orders entered in this security prior to the auction call execution which will set today's closing price. The applicable percentage is set by reference to a security's TradElect sector. This is set out in the Sector Breakdown tab of the TradElect Parameters document at www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices</f ipP> This information is provided by RNS The company news service from the London Stock Exchange END
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| 11-09-09 | RNS |
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RNS Number : 9579Y Titan Europe PLC 11 September 2009 Today's closing auction call period has been extended in this security by 5 minutes. Auction call extensions give London Stock Exchange electronic order book users a further opportunity to review the prices and sizes of orders entered in an individual security during the initial auction call before the execution occurs. A price monitoring extension is activated when the matching process would have otherwise resulted in an execution price that is a pre-determined percentage above or below the price of the last automated execution today. The applicable percentage is set by reference to a security's TradElect sector. This is set out in the Sector Breakdown tab of the TradElect Parameters document at www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices</f ipP> This information is provided by RNS The company news service from the London Stock Exchange END
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| 08-09-09 | RNS |
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RNS Number : 7274Y Titan Europe PLC 08 September 2009 A second and final Price Monitoring Extension has been activated in this security. The closing auction call period is extended in this security for a further 5 minutes. Following the first price monitoring extension this security would still execute more than a pre-determined percentage above or below the price of the previous automated execution today. London Stock Exchange electronic order book users have a final opportunity to review the prices and sizes of orders entered in this security prior to the auction call execution which will set today's closing price. The applicable percentage is set by reference to a security's TradElect sector. This is set out in the Sector Breakdown tab of the TradElect Parameters document at www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices</f ipP> This information is provided by RNS The company news service from the London Stock Exchange END
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| 08-09-09 | RNS |
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RNS Number : 7267Y Titan Europe PLC 08 September 2009 Today's closing auction call period has been extended in this security by 5 minutes. Auction call extensions give London Stock Exchange electronic order book users a further opportunity to review the prices and sizes of orders entered in an individual security during the initial auction call before the execution occurs. A price monitoring extension is activated when the matching process would have otherwise resulted in an execution price that is a pre-determined percentage above or below the price of the last automated execution today. The applicable percentage is set by reference to a security's TradElect sector. This is set out in the Sector Breakdown tab of the TradElect Parameters document at www.londonstockexchange.com/en-gb/products/membershiptrading/tradingservices</f ipP> This information is provided by RNS The company news service from the London Stock Exchange END
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