Titan Europe Group - which owns Kidderminster-based Titan Steel Wheels - has enjoyed better than expected trading in the first quarter of 2010.
The company said that all aspects of its business had performed well with margins in the wheel business in line with forecasts despite the increasing cost of steel.
Titan Steel Wheels, which manufactures construction wheels and saw one of the most significant downturns in 2009, has seen an increase in production volume of 75 per cent compared to the lowest point of last year.
It said in a trading update that its Brazilian undercarriage business had hit record volume levels and was now a major contributor to the group’s overall business performance while a new Chinese undercarriage factory was also in line for further expansion.
