SALT LAKE CITY, Utah – After
announcing just last week its intent to acquire the assets of Page Brake Warehouse, a distributor of heavy-duty truck parts serving the commercial vehicle aftermarket in the Rocky Mountain region, Fleet Brake appears to have had a change of heart.
The company announced yesterday that is has reached an agreement with an affiliate of FleetPride Inc. to sell its recently acquired assets in Utah and Idaho, pursuant to a court order issued by the District Court for the Third Judicial District in and for Salt Lake County, State of Utah and a definitive agreement signed by the state appointed receiver.
After what it described as "extensive diligence," Fleet Brake said the decision is meant to serve the best interests of the staff and families of the former Page Brake. The move also will allow Fleet Brake to continue to focus on its Canadian service and distribution strategy, according to Fleet Brake President John Bzeta.
“After a successful and busy week at HDAW, I made the decision to concentrate on our strategic plan in Canada, and we wish the former employees of Page Brake the best in the new operations," Bzeta said.