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Dan River gets court approval to sell engineered products division
By Jeff Pines
Washington, Jan. 12 - The U.S. Bankruptcy Court for the Northern District of Georgia approved Dan River Inc.'s proposed sale of its engineered products division to Porterdale Acquisition LLC for $9.4 million.
The order was filed Wednesday.
Porterdale was the stalking horse bidder and there were no other bidders.
The engineered products division manufactures and sells coated yarns and woven fabrics for the automotive industry and for others.
Dan River, based in Danville, Va., filed for bankruptcy on March 31, 2004. Its Chapter 11 case number is 04-10990.
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