Titan Offers Rival $44M Bid For GPX Tire Assets

Law360, New York (December 3, 2009, 12:45 PM EST) -- Tire manufacturer Titan International Inc. has made a competing $44 million bid to purchase GPX International Tire Corp.'s U.S. and South Africa business assets, which the bankrupt company had agreed to sell to Alliance Tire Co.

Titan submitted a proposed asset purchase agreement in the U.S. Bankruptcy Court for the District of Massachusetts on Wednesday.

Titan, based in Quincy, Ill., is an off-highway wheel manufacturer that moved into the tire market in 1993, according to the company.

Judge Joan N. Feeney established a bidding procedure for...
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