Titan International Announces Sale of Certain Assets at Two Facilities

18 April 2000
Titan International Announces Sale of Certain Assets at Two Facilities
    QUINCY, Ill., April 17 Titan International, Inc.
(NYSE: TWI) announced the sale of certain assets of facilities located in
Clinton, Tennessee, and Slinger, Wisconsin, and the leasing of its facility in
Greenwood, South Carolina, to Carlisle Tire and Wheel, a subsidiary of
Carlisle Companies Incorporated (NYSE: CSL), effective immediately.  The
transaction is valued at approximately $95 million.
    Titan has decided to exit the lawn and garden and ATV original equipment
manufacturer (OEM) wheel and tire business, concentrating instead on the
aftermarket. The two companies have signed a five-year supply agreement
whereby Titan will purchase wheels and tires from Carlisle for its
distribution outlets.
    With this transaction in effect, Titan will now focus on expanding its
tire operations in Des Moines, Iowa, Natchez, Mississippi, and Brownsville,
Texas.  To fully capture the profit potential of LSW wheels and tires for
agriculture and construction, Titan will market the assemblies directly to end
customers and equipment dealers.  Titan has also licensed Carlisle to use the
LSW technology for lawn and garden and ATV applications and will receive
royalties on all LSW sales.
    "Titan and Carlisle have been in talks for quite some time regarding the
benefits of combining the small wheel and tire business," stated
Maurice Taylor Jr., Titan president and CEO.  "We finally arrived at a win-win
agreement allowing both companies to increase future stockholder value."
    Carlisle is a diversified manufacturer of products serving four major
markets:  construction materials, industrial components, automotive components
and general industry.
    Titan International, Inc. is a global manufacturer of mounted wheel and
tire systems for off-highway equipment used in agriculture, construction,
mining, military, recreation and grounds care.  Titan has worldwide
manufacturing and distribution facilities.