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<<< THE GAUGE WHORE...
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Discussion Starter #1

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FNG
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Link takes you to a login page Joe
 

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<<< THE GAUGE WHORE...
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12,082 Posts
Discussion Starter #3
Weird...

BRACEVILLE, Ohio (Feb. 23, 2010) — Denman Tire Corp. said it is considering shutting its operations unless it is able to refinance its debts or secure a buyer in the near future.

The decision would result in the closing of both Denman facilities—its construction, agriculture and mining tire factory in Braceville and its warehouse in Austintown, Ohio—as well as the termination of about 260 jobs. In the event of a closing, Denman’s assets will be relinquished to its lender for liquidation.

Denman, which marked its 90th anniversary in 2009, has struggled to remain viable during poor economic conditions. The company’s primary lender, CIT Group Inc., entered bankruptcy protection late last year and the tire maker’s requests for a U.S. government loan went unanswered.

“Unfortunately Denman was a victim of the downturn of the economy,” said Richard Szekelyi, restructuring adviser for Denman, in a press release.

“As a result, the company has reached the difficult decision to begin reducing operations while we continue our efforts to secure financing and/or find a buyer. If these efforts are unsuccessful, there will be no other alternative but to close all of the operations.”

The company said it has informed its employees, union representatives, elected officials and other parties of the tentative closure. The company did not announce a deadline for acquiring financing or a buyer.

Denman had estimated sales of $75 million in fiscal 2008.
 

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FNG
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Just found an article that supports it. Denman is done unless they can get operating capital somewhere
 

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FNG
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Denman is the company Interco contracts with to manufacture tires for them.

They are seperate companies. However this cant be good for interco either
 

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mmmm...beer....
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418 Posts
This issue was addressed over on pirate a little while back. Read the letter from Interco here.
While it is true Denman makes some models of Interco tires, it sounds like Interco will be just fine. There might be a shortage on certain tires coming up in the next several months, but in the long run they'll be fine.

Letter:
Here is the story. A factory in Ohio by the name of Denman Tire Corporation has shut down and Denman was a major supplier of some of our tires. Denman also manufactured other tires of various brands that will also be affected. We anticipated something like this could happen someday so we diversify our production. It takes time to move equipment out of one factory to another but we have already started the process. We will experience shortages of some sizes and types but this will be temporary.

This factory has been caught up in the difficult economic situation the country is experiencing but everything at Interco is OK.

I sincerely appreciate your inquiry and welcome any future inquiries so we can keep the record straight. Since this news broke we have been humbled by the hundreds of phone calls and emails we have received from very concerned off-roaders and dealers.

Best wishes,


KATIE LECKELT
INTERCO TIRE CORPORATION
2412 ABBEVILLE HWY
RAYNE, LA 70578
Home | Interco Tire
 

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28 cent #2
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2,874 Posts
Denman made Ground Hawgs haha. Haven't seen a set of them in forever!! I don't see interco going out of business alot of the guys that have strictly off road vehicles and mud trucks still buy the #### out of em.
 
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