Titan Europe, the maker of steel wheels and other machinery components, says it will face 'substantial' short-term costs in restoring its Finale Emilia factory in Northern Italy after an earthquake, while demand in China is weak.
The Italian facility was seriously damaged by an earthquake in May, which has forced Titan to move production to other factories in France and Turkey. Finale Emilia was responsible for around 10% or £50m worth of sales
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