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Heavy Equipment Parts Maker ValuePart Files For Ch. 11

Law360, New York (October 27, 2016, 8:25 PM EDT) -- ValuePart Inc., which manufactures replacement parts for backhoes and other heavy equipment, filed for bankruptcy protection on Thursday in Texas, saying that it needs a “breathing spell” from the court to keep the business running following lower than expected earnings.

The company, which markets its parts under the brand name VTRACK by Passini, filed a Chapter 11 petition listing assets and liabilities each of between $10 million and $50 million. ValuePart produces replacement components for earthmoving equipment manufactured by Caterpillar Inc., Deere & Co and Hitachi,...
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