QUINCY, Ill., June 3, 2014 /PRNewswire/ -- Titan Tire
Reclamation Corp. (TTRC), a subsidiary of Titan International, Inc.
(NYSE: TWI), has been in negotiations with various companies in the
oil sands for the disposal of OTR tires and conveyor belting. TTRC
will lease ten acres of land from Suncor Energy, north of
Fort McMurray, Canada for ten
years to operate a pyrolysis system developed by Green Carbon.
Green Carbon is controlled by
Fred Taylor, brother of Titan
International Chairman and CEO, Maurice
Taylor.
This system uses 75 percent of gas from tires in a special
reactor. Each 59R63 tire produces approximately 500 gallons of oil,
4,000 pounds of carbon black and 2,000 pounds of steel. The
oil companies will buy the oil back as bio fuel which can be
refined into bio kerosene. The steel is 1075 carbon can be
reclaimed for the production of tool bits on shovels and
bulldozers. The carbon black byproduct can be reused by Titan
Tire. Carbon credits will be
generated, yet the amount is unknown at this time. This new system
will be up and running by summer of 2015 and will be able to
process 100 million pounds of rubber annually.
Chairman and CEO, Maurice Taylor,
comments, "TTRC plans to open a second operation west of
Edmonton shortly after the initial launch in Fort McMurray. It is TTRC's plan to move on to
new locations as acreage becomes available and new customers commit
to the process. The Titan team has been working for three years to
prove this process and is pleased this is progressing
favorably. It is gratifying to move forward as we feel this
system is extremely eco-friendly."
Company description: Titan International,
Inc. (NYSE: TWI), a holding company, owns subsidiaries that supply
wheels, tires, assemblies and undercarriage product for
off-highway equipment used in agricultural,
earthmoving/construction and consumer (including all terrain
vehicles) applications.
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SOURCE Titan International, Inc.