XML 52 R28.htm IDEA: XBRL DOCUMENT

RELATED PARTY TRANSACTIONS	9 Months Ended
RELATED PARTY TRANSACTIONS	Sep. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	RELATED PARTY TRANSACTIONS The Company sells products and pays commissions to companies controlled by persons related to the Chairman of the Board of Directors of the Company, Mr. Maurice Taylor. The related party is Mr. Fred Taylor, who is Mr. Maurice Taylor’s brother. The companies with which Mr. Fred Taylor is associated that do business with Titan include the following: Blacksmith OTR, LLC; F.B.T. Enterprises, Inc.; Green Carbon, Inc.; Silverstone, Inc.; and OTR Wheel Engineering, Inc. Sales of Titan products to these companies were approximately $0.3 million and $1.0 million for the three and nine months ended September 30, 2018, respectively, as compared to $0.3 million and $1.3 million for the three and nine months ended September 30, 2017, respectively. Titan had trade receivables due from these companies of approximately $0.2 million at September 30, 2018, and approximately $0.2 million at December 31, 2017. Titan had product purchases from these companies of approximately $0.1 million and $0.4 million for the three and nine months ended September 30, 2018, respectively, as compared to purchases of approximately $0.2 million for the each of the three and nine months ended September 30, 2017. Sales commissions paid to the above companies were approximately $0.4 million and $1.4 million for the three and nine months ended September 30, 2018, respectively, as compared to $0.7 million and $1.4 million for the three and nine months ended September 30, 2017, respectively. The Company sells products to Valuepart and Track Solutions Pty Ltd., which is controlled by relatives of a member of management of a Titan subsidiary. Sales of Titan products to this company were approximately $0.0 million and $0.2 million for the three and nine months ended September 30, 2018, respectively. In July 2013, the Company entered into a Shareholders’ Agreement with OEP and RDIF to acquire Voltyre-Prom. Mr. Richard M. Cashin Jr., a director of the Company, is the President of OEP, which owns 21.4% of the joint venture. The Shareholders’ Agreement contains a settlement put option that may require the Company to purchase equity interests in the joint venture from OEP and RDIF at a value set by the agreement. See Note 9 for additional information.