Titan International attempted to shift its acquisition drive up a gear by deploying its finance boss to oversee takeover opportunities, to be joined by the boss of the group's wheels subsidiary.

The maker of tyres for farming and construction vehicles, which has for some months pronounced an appetite for deals, said that treasurer and finance president Kent Hackamack was to become vice president of corporate development, where he will be joined by wheels-division veteran Ron Schildt.

The shift is aimed at sealing deals with, unnamed, acquisition targets which the group has identified but failed to bring to completion.

"Titan has been in various negotiations to increase its worldwide footprint in agricultural and mining wheels and tires. Kent's experience will help us achieve those goals," said Maurice Taylor, the Titan chairman and chief executive.

Mr Taylor in April complained that the group was being vexed by "the good, the bad and the ugly" of the acquisition process – the "good" the number of targets it had identified, the "bad" the process of assessing them, and the "ugly" the prices being asked.

Gulf disaster fillip?

Mr Hackamack will be succeeded as chief financial officer by Paul Reitz, who quit as chief accounting officer at cinemas group at cinemas group Carmike two weeks ago.

David Salen, a former chief executive of aluminium wheel maker UBS, will replace Mr Schildt, who has spent 17 years in charge of Titan's wheels business.

The changes follow an improvement in the start of the year in the company's fortunes, following a difficult period, like many other construction suppliers, during the US recession.

Indeed, some analysts believe the company may benefit from the Gulf of Mexico crude spill, as oil companies come onshore, requiring the kind of machinery which Titan helps kit out.

"Since the Gulf disaster, [North America's] tar sands have some to look like a better alternative thank deep water drilling," analysts at Sterne Agee said two weeks ago, restating a "buy" recommendation on Titan shares, with a $14 price target.

"Overall used tyre inventories have dwindled… which means that the market is closer to equilibrium and tight supplies could re-emerge next year."

Titan shares closed 1.9% lower at $9.86 in New York.