Titan Completes Reincorporation

Time: June 30th  2015   Copy editor: Tyrefull

Titan International has officially completed its reincorporation from the State of Illinois to the State of Delaware.

The reincorporation was approved earlier this month by the tiremaker’s stockholders. Each share of Titan’s common stock will automatically be converted into a share for the newly-formed Delaware corporation.

Delaware’s business law is one of the most flexible in the U.S. as companies are not required to pay state corporate income tax if they don’t transact business there. Additionally, the state’s court system is also company-friendly – the Delaware Court of Chancery hears only business cases and does rely upon juries.

More than half of all public and Fortune 500 companies are incorporated in Delaware.

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