TORONTO (July 10, 2009)—A management group—under the name Infinity Rubber Technology Group Inc.—has purchased the assets of the Toronto-based plant of custom mixer Biltrite Rubber (1984) Inc.
The Biltrite Group of companies filed for bankruptcy protection in both Canada and the U.S. back in March. The filings included the Toronto headquarters operation as well as the former Hercules Tire & Rubber Co. mixing operation it bought in Findlay, Ohio, in 2005.
The Ontario Superior Court of Justice approved the sale of the Toronto assets on July 8 to a group of seven senior managers doing business as Infinity Rubber Technology Group. Terms of the deal were not released.
The disposition of the Findlay operation will be announced at a later date, according to a court filing.