Air Treads hopes to complete an asset sale of its aircraft wheel and brake refurbishing operations to an undisclosed buyer by the end of June. In a related move, the 18-year old Kingston, Ontario retreading and brake repair plant will close, also at the end of June, affecting 25 workers. Company chairman and CEO, J. David Wolf said deteriorating market conditions from reduced military and commercial aviation business forced the decision. The sale involves transfer of wheel and brake operations at plants in Kingman, AZ; Dallas, TX; Allentown, PA; and Moerfelden, Germany. Retreading operations remain a stand-alone business for Air Treads.
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|Title Annotation:||Air Treads Inc. to sell assets|
|Article Type:||Brief Article|
|Date:||Jun 1, 1993|
|Next Article:||Golden Hope Plantations.|