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.
Titan International, Inc. President and CEO Paul Reitz commented, "We have safety procedures in place to avoid potential hazards, as safety is a top priority at all of our facilities. We will continue to take actions necessary to ensure the safety of our staff, TTRC's neighbors and the environment. We are incredibly thankful to the first responders who promptly attended to the situation."
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About Titan
Titan International, Inc. (NYSE: TWI) is a leading global manufacturer of off-highway wheels, tires, assemblies, and undercarriage products. Headquartered in Quincy, 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.
SOURCE Titan International, Inc.