Titan International Inc. and a consortium of partners including One Equity Partners (OEP) and Russian Direct Investment Fund (RDIF) have completed the acquisition of majority control of Russian agricultural tire manufacturer Voltyre-Prom for $94 million including an assumption of an undisclosed amount of debt. Titan International Inc. will act as managing partner for the consortium. The acquisition of Voltyre-Prom which had annual sales in 2012 of approximately $200 million will complement Titan’s global strategy of expanding into the Russian market. Over a period of three years the deal will be subject to various post-closing adjustments.
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