KANSAS CITY, Mo. (Nov. 21)—AcoustiSeal Inc. has named Nitto Americas Inc. the lead potential buyer for its troubled rubber foam and sealant operations. The manufacturer filed for Chapter 11 bankruptcy court protection Sept. 4 and is selling its assets to get the most money for its secured creditor, Deutsche Bank Trust Co. Americas in New York. Nitto has offered $20 million for the firm's Kansas City and St. Louis plants and Troy, Mich., sales and engineering office. The factories have 308,000 square feet worth of combined floor space. An auction seeking higher bids is scheduled for 11 a.m. Nov. 22 at the law offices of Bryan Cave L.L.P. in Kansas City. The winning bid will be approved by the U.S. Bankruptcy Court for the Western District of Missouri at a Dec. 2 hearing with completion of the sale expected 10 days later.
AcoustiSeal to hold auction for company assets Nov. 22
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