Automotive Technology industry alert provided by U.S. Equity News. Titan Tire Corporation, a subsidiary of Titan International, Inc. (NYSE: TWI), will implement a price increase on Titan and Goodyear branded farm and construction tires, effective November 1, 2007. The increase of up to five percent will offset rising raw material and energy costs. Certain tire prices may rise in excess of five percent due to repositioning of the product. Titan International, Inc., a holding company, owns subsidiaries that supply wheels, tires and assemblies for off-highway equipment used in agricultural, earthmoving/construction and consumer (including all terrain vehicles) applications.
Magna International Inc. (NYSE: MGA) recently announced the final results of its offer to purchase up to U.S.$1,536,600,000 in value of its Class A Subordinate Voting Shares, which expired at 5:00 p.m. (Toronto time) on September 20, 2007. Magna confirmed that it has purchased for cancellation 11,908,944 Class A Subordinate Voting Shares, representing 9.2% of its currently issued and outstanding Class A Subordinate Voting Shares, at U.S.$91.50 per share for an aggregate purchase price of approximately U.S.$1.1 billion.
Tenneco (NYSE: TEN) will participate in the Deutsche Bank Leveraged Finance Conference to be held in Scottsdale, Arizona, on Thursday, October 4, 2007. Tenneco's Chairman, and Chief Executive Officer, Gregg Sherrill, will present at 8:35 a.m. PT. Tenneco's presentation will be audio webcast and can be accessed by going to the "Investors" portion of the company's web site at http://www.tenneco.com. A copy of the slides also will be available under the "Presentation" tab in this section of the web site. A replay of the webcast will be available through November 4, 2007.
PTA Holdings, Inc. (OTC: PTAH) announced that its ProFlow subsidiary has integrated V-Flow Fuel Maximizer, Inc. and its proprietary patent-pending state of the art Hydrogen/Oxygen Generating Component for increasing internal combustion engines' fuel efficiency (averaging 40 to 55% plus increase) for the automotive and trucking industry. ProFlow is a Georgia-based multi-location Automotive Service Center that specializes in the repair and maintenance of domestic, foreign and diesel cars and trucks. ProFlow launched this new division to round out the services that it provides to its customer base.
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