May 6, 2008 -- Subsidiary Acquires Champion Parts Assets Cash Technologies, Inc. ("Cash Tech") announced that its CPI Holdings, LLC subsidiary has completed its acquisition of certain assets of Champion Parts, Inc. from PNC Business Credit, Inc. for $2.97 million which have a book value of approximately $12.1 million.
Champion was the leading remanufacturer of automotive fuel system components in the U.S. before its bankruptcy in October 2007. The purchase of the Champion Assets will permit CPI to create a new business using the venerable Champion name, products, staff, facilities and national retail distribution network.
Abstracted from Market News Publishing
