MALDEN, Mass. -- Craig Steinke, chief executive officer of GPX International Tire Corp., announced late yesterday that the company has entered into a definitive sale agreement for its Solid Tire business and Starbright manufacturing facility in China. An investor group will partner with members of the management team to purchase the operations and underlying assets of the Solid Tire business.

GPX International, headquartered in Malden, Mass., is a third-generation family owned business and is one of the largest independent global providers of specialty "off-the-road" tires for the agricultural, construction, materials handling and transportation industries.

The transaction will include the MITL, ITL and Brawler brands, as well as the company’s Gorham, Maine; Red Lion, Pa.; and Hebei, China, manufacturing facilities.

GPX filed for reorganization under Chapter 11 of the bankruptcy code on Oct. 26, as a result of a Department of Commerce Antidumping/Countervailing Duty inquiry commenced in June 2007 that resulted in 44 percent duties levied against GPX’s Starbright facility.

The company said it expects to complete this transaction and the sale of its other business units by Dec. 31, pending approval by the bankruptcy court. Until the sale is finalized, GPX will continue to manufacture and distribute tires and service its valued customers.