Titan International buys assets of Denman Tire for $4.4 million

Titan buys assets of Denman Tire for $4.4M

QUINCY, Ill. — Heavy machinery company Titan International Inc. said Friday it has bought certain assets of Denman Tire through a subsidiary, Titan Tire Corp., for $4.4 million.

The purchase included the Denman Tire name, tire specifications, patents, molds, various bladder tooling, customer lists and other items. It did not include any machinery, land or buildings, the company said.

The asset purchase was approved by a bankruptcy court on Thursday.

Shares of Titan fell 81 cents, or 7.5 percent, to close at $10.