GPX Reaches $10M Deal To Sell Off Solid Tire Assets

Law360, New York (November 13, 2009, 1:26 PM EST) -- Bankrupt GPX International Tire Corp. has entered a $10 million sale agreement with an investor group partnering with members of its management team for its solid tire business and several manufacturing facilities in the United States and China.

GPX on Thursday filed a motion in the U.S. Bankruptcy Court for the District of Massachusetts seeking authorization to effectuate the agreement for purchase and sale of its Gorham, Maine; Red Lion, Pa.; and Hebei, China, manufacturing facilities, in addition to other assets related to its solid and...
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