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TITAN WHEEL INTERNATIONAL, INC. ANNOUNCES PROPOSED OFFERING

 QUINCY, Ill., Oct. 11 /PRNewswire/ -- Titan Wheel International, Inc. (NASDAQ-NMS: TWII) announced today that it has filed a Registration Statement with the Securities and Exchange Commission relating to a proposed public offering of $65 million principal amount of Convertible Subordinated Debentures. The offering is conditional upon the completion of the previously announced pending acquisition of Dyneer Corporation. The proceeds of the offering will be used principally to repay existing Dyneer debt, including the $43 million outstanding principal amount of Dyneer's 13.25 percent Senior Subordinated Debentures due 1997 and a portion of Dyneer's senior debt.
 The offering will be managed by Smith Barney Shearson Inc. and Paine Webber Incorporated.
 Dyneer Corporation, a privately held company, principally manufactures smaller diameter industrial equipment wheels and tires including those for turf care, golf carts, boat trailers and farm and industrial equipment. It also manufactures braking systems and traction-enhancing differential systems. The completion of the acquisition of Dyneer Corporation is expected to enable Titan Wheel to expand its current product offering.
 Titan is a leading manufacturer and marketer of steel wheel rims for original equipment manufacturers in the agriculture and off-highway construction equipment markets.
 Titan Wheel common stock is traded on the NASDAQ National Market System under the symbol TWII.
 -0- 10/11/93
 /CONTACT: Michael Panas of Titan Wheel, 217-221-4361/
 (TWII)


CO: Titan Wheel International, Inc.; Dyneer Corporation ST: Illinois IN: AUT SU: OFR TNM

SB -- DE005 -- 0549 10/11/93 08:47 EDT
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Publication:PR Newswire
Date:Oct 11, 1993
Words:241
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