Alliance Tire Group has signed an agreement to purchase certain assets from GPX International Tire Corp., which had previously filed for bankruptcy protection.
Terms of the deal were not announced, and the sale is expected to close by Dec. 31, pending approval by the bankruptcy court. GPX had filed for re-organization under Chapter 11 of the U.S. Bankruptcy Code.
The deal includes GPX’s Galaxy, Primex and other brands, as well as GPX’s U.S. operations, warehouses, customer lists, and GPX’s wholly owned GPX Tyre South Africa (Pty.).
Alliance said it will continue to market Galaxy, Primex, other GPX brands, and medium radial truck tires to GPX’s customer base, and will continue to source products from GPX’s network of manufacturers in China and elsewhere.
"The combination of the Alliance and GPX manufacturing resources provides Alliance with a large, diverse, and highly flexible global sourcing platform that is capable of providing competitive products in all segments of the off-the-road tire industry in North America and throughout the world," the company said.