Titan International Inc., which makes wheels and tires for large off-road vehicles used in construction and other industries, should post revenue of $1.175 billion to $1.35 billion next year, up from about $1 billion this year, the chief executive said Monday.

Shares of the company jumped $1.55, or 24 percent, to $8.02 in afternoon trading. They have plunged since hitting a 52-week high of $37.99 in July.

The Quincy-based company said it set a goal of earning $170 million to $190 million next year before interest, taxes, depreciation and amortization, and targeted operating cash flow of more than $100 million.

Chairman and CEO Maurice M. Taylor Jr. said unit sales could rise 20 to 30 percent over 2008.

The bullish outlook contrasted with recent comments from makers of heavy equipment such as Caterpillar Inc., which said last week it had started shedding contract workers to cut costs in the face of a global economic slowdown. Caterpillar makes earth-moving machinery.

Titan CEO Taylor said he visited customers at mines, farm equipment dealers, farmers and others in recent months and believes that despite gloom on Wall Street and in the news, 2009 "should be a great year."

"I appreciate the concern over lower commodity prices and its affect on business, but if you look at these commodity prices, they are still higher than in 2006," Taylor said in a written statement. "So be merry, a new year is coming."