Denman Tire seeks help from federal government

March 19, 2009 at 5:10p.m.

LEAVITTSBURG — A 90-year-old tire maker said it will be out of business soon unless it receives a federal bailout loan or some government contracts.

Denman Tire said it has a plan to turnaround its money-losing business but needs $3 million to buy new equipment.

The federal government will pay one way or another, said Sandy Pensler, president of the company on Diehl South Road just outside Warren.

Either the government issues the loan or buys tires, or it will be paying unemployment compensation and other benefits to workers who lose their jobs, he said.

For more information, see Friday’s Vindicator or www.vindy.com.