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Titan International's CEO Discusses Q2 2012 Results - Earnings Call Transcript

That was the only – South America was the only place that was not up to what we expected. But the reason for that is because in one of our press releases today, we made a deal with Goodyear to take over the light biased trucks. So we'll just pay them a commission and we'll handle it direct to the dealers that we currently have, and we will also included that into Mexico because they were not shipping much from Brazil. They were – they had supply agreements with other source that they were using. And it is our plan to add that into the Brazilian operation. There is a – when you look at the taking over and the inventory, we agreed to allow them to burn off a lot of that inventory before we started the pipeline because they had inventory in their warehouses where we ship right direct.

So we expect that to make a strongly rebound to the second half of this year, and we expect that to continue to go. We have shipped a total of 81 new part numbers down here for tires for the major OEs. They have all been to the plant and we expect that to continue to march strong and be a very strong earner in the near future.

As the situation in North America, I have a problem because number one, this deal that was announced today, are not announced, but just clarify giving you the specifics, some of the specifics. Those are planned to short time to file a 2S in England and over the takeover platform, whatever is written, is the only thing that can be stated. It’s a big huge gag order. And by their gag order because we are limited to saying anything sure until the prospectus is issued and put out.

Read the rest of this transcript for free on seekingalpha.com

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