Manufacturer Titan Europe has seen sales rise by more than a third after a year of recovery in 2010.
Kidderminster-based steel wheel-maker Titan (TSW) bounced back into the black after seeing revenues rise to £355 million in the year to December 31, up from £258 million in 2010.
The company posted a pre-tax profit of £3.4 million – compared to a loss of £41 million in 2009 and also revealed a global supply contract with Volvo.
Chief executive Mike Akers said: “2010 was a year of strong recovery from the low point of 2009.
“This performance was driven by increased demand from our key customers and new opportunities created by an extended capability for a wider range of products.
“We have been able to aggressively pursue these as a result of our engineering expertise and technological leadership.
“The group continues to capitalise on the uplift in its markets with unaudited revenue for Q1 2011 at £116.9 million, which is 66 per cent above the comparable period of 2010.
“Overall, we are convinced that as confidence grows and recovery is sustained, our markets will continue to improve and Titan Europe is well placed to benefit from this.”
Titan said it had secured a global supply contract for 25-inch multi-piece wheels for Volvo Construction.
