KANSAS CITY, Mo. (Nov. 26)—Nitto Americas Inc. won a Nov. 22 auction for the troubled rubber foam and sealant operations of AcoustiSeal Inc. The manufacturer placed its assets under Chapter 11 bankruptcy protection to get the most money for its secured creditor, Deutsche Bank Trust Co. Americas. Nitto had offered $20 million for the firm's Kansas City and St. Louis plants, which span a combined 308,000 square feet of floor space, and its Troy, Mich., sales and engineering office, but lawyers did not immediately return calls to confirm Nitto's final bid. Nitto's purchase now must be approved by the U.S. Bankruptcy Court for the Western District of Missouri at a Dec. 2 hearing. If approved, the deal will close by Dec. 12.
Nitto prevails with highest bid for AcoustiSeal operations
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