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Pinon Purchases Neopart LLC


October 29, 2007


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.

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