other material
confidence high
sentiment positive
materiality 0.70
Titan International enters global supply agreement with Deere & Company through Oct 2027
TITAN INTERNATIONAL INC
- Global Long-Term Agreement effective Nov 1, 2024 to Oct 30, 2027, covering wheels and tires from Titan's North and South America plants.
- Includes supplier share commitments; if share drops below commitment, recovery plan required and price decreases may be paused.
- Titan must maintain service parts capability for 15 years after last production part supplied and provide one-time buy option upon termination.
- No minimum purchase quantities; Deere may buy standard commercial service parts from other sources, excluding them from Titan warranty.
- Raw material price adjustments reviewed quarterly with set implementation dates; cost reduction activities tracked via John Deere CROP process.