Alliance's acquisition of GPX assets approved
Alliance Tire Group's acquisition of the key U.S. assets of bankrupt GPX International Tire Corp. has been approved. Alliance will acquire worldwide rights to GPX's Galaxy and Primex brands, GPX's U.S. customer list, its warehouse footprint and its medium radial truck tire business.
As part of the deal, Alliance also will acquire GPX's South African subsidiary, GPX Tyre South Africa (Pty).
The acquisition expands Alliance's line of ag, OTR, construction and forestry tires, according to Alliance Tire USA President Manny Cicero.
"If you look at everything Alliance has been building in North America and around the world, this purchase is an excellent fit," he says. "Acquiring GPX's pneumatic assets is part of our aggressive growth plan to deliver a broad product line of high-quality tires to our customers here in North American and around the world."
He adds that GPX "has built an outstanding engineering and development team, and an experienced sales force, both of which complement our Alliance Tire USA organization."