Tower Automotive debtor gets court OK to sell Milwaukee facility for $2.3 million

By Caroline Salls

Pittsburgh, Sept. 21 - Tower Automotive, Inc. debtor Tower Automotive Products Co., Inc. obtained court approval of the $2.3 million sale of its Milwaukee facility to Central Land Co., LLC, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.

According to the motion, the property includes a manufacturing facility and office space. The manufacturing facility closed on March 30.

Tower said monthly costs associated with holding the inactive property have been about $25,000.

The Novi, Mich.-based auto parts maker filed for bankruptcy on Feb. 1, 2005. Its Chapter 11 case number is 05-10578.

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