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Headline

Pinon Purchases Neopart LLC

Date

October 29, 2007

Article

Colorado-based Pinon LLC has purchased the assets of Neopart LLC of Honey Brook, Pa., from its former parent, Neoplan USA Corporation. Neopart, a company specializing in aftermarket parts for transit buses and coaches, will operate as a stand-alone company led by its current president, Phil Gendall.

"Neopart's success as a stand-alone business is long proven," said Gendall. "The financial stability and resources provided by Pinon will augment Neopart's ability to provide a fully competitive service for the supply of transit and coach parts throughout North America."

Pinon noted that the transaction included the bus-related intellectual property from Neoplan's manufacturing business. Neoplan USA Corporation shut down its plant in Lamar, Colo., in 2005, and filed for Chapter 11 bankruptcy protection the following year.

Date Added

11/15/2007

Date Edited

11/15/2007

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