• Twitter
  • Facebook
  • Instagram
  • Subscribe
  • Free Newsletter
  • My Account
Tyrepress
  • 0Shopping Cart
  • NewsNews
    • Latest News
    • Company News
    • UK News
    • Product News
    • International News
    • Retreading
    • Career Tracks
    • Motorsport
    • Video
    • Tyrepress Videos
  • Data
    • Leading Tyre Manufacturers
    • Leading Retailers (UK)
    • Social Media Ranking
    • Online Branding
    • Brand Finance rankings
    • Blue Light Fleet Analysis
    • Astutus Research analysis
    • Beyond Covid-19 Tire Market Forecasts
  • Features
    • Goodyear to buy Cooper – special supplement
    • TPMS and Sensor Technology 2021
    • Tyre Industry Conference 2020
    • Online Tyre Business 2020
    • Kick-starting your business webinar May 2020
  • Business Directory
    • Browse Entries
    • List Your Company on the Business Directory
  • Jobs
    • Situations vacant
    • Career Tracks
  • Classifieds
  • Magazine
    • Latest Issue
    • Read Tyres & Accessories Magazine online
    • Tyres & Accessories Magazine Archive
  • Shop
    • Subscription Shop
    • Report Shop
    • Directory Shop
  • About
    • Company Profile
    • Media Information
    • Frequently Asked Questions (FAQs)
    • Legal
    • Contact Us
  • Search
  • Menu
You are here: Home1 / News2 / Company News3 / Last Minute Bid Gives Denman Assets to Titan

Last Minute Bid Gives Denman Assets to Titan

Date: 21st May 2010 Author: Tyrepress Editors Comments: 0

Tire Review reports Titan International emerged as the winner among multiple parties seeking to buy some or all of the remaining assets of the defunct Denman Tire. Yesterday, the US Bankruptcy Court approved Titan’s $4.4 million last minute bid to acquire all of Denman’s brands, patents, drawings, molds, recipes and other intellectual property. The assets were auctioned off by the court as part of Denman’s Chapter 7 liquidation.

Titan’s bid bested efforts by India’s Balkrishna Industries Ltd., which bid $1.25 million, and GCA Tire, a group of local investors that bid $2.2 million. Tennessee’s Coker Tire had placed an early bid of $1.2 million for some of Denman’s assets. Titan officials made no comment on the purchase. The sale to Titan effectively closes the door on Denman’s plant in Leavittsburg, Ohio, and the 230 jobs there. Denman also owned a warehouse in nearby Austintown.

The bankruptcy auction addressed only plant operations and intellectual property; real estate, such as the plant and warehouse sites, will be dealt with later. Titan now effectively owns the Denman brand and product lines it produced in the US, including small OTR and speciality tyres. Denman filed for Chapter 7 liquidation in March, ending months of conjecture on its condition.

 

Related News:

  • Denman Tire Files for Bankruptcy
  • Denman Tire Weighs Up Closure Option
  • Workers Say Denman Tire Out of Money: Report

Related news:

  1. IFC to Invest in Apollo Greenfield Plant
  2. Titan’s Planet Group acquisition finalised
  3. New Apollo factories: First Eastern Europe, then Indonesia
  4. Q4 2010 better than expected for Titan
Comments
Comments closed
Share this entry
  • Share on Facebook
  • Share on Twitter
  • Share on WhatsApp
  • Share on LinkedIn
  • Share on Reddit
  • Per E-Mail teilen

Related Tags

Company News, India, Jobs, OTR tyres, Titan

Advert Location 28

© 2020 - Tyrepress
  • Twitter
  • Facebook
  • Instagram
  • WhatTyre
  • Reifenpresse
  • PneusNews
Michelin Cooks Up a Better Compound for Primacy MXM4 General Truck Tyres Receive US SmartWay Verification
Scroll to top