The parent company, Denver Global, is going through a big shake up. Thus, part of the problem is revealed:
Denver Global execs out in dispute with new Chinese owners - Charlotte Business Journal
May 14, 2013, 2:52pm EDT Updated: May 14, 2013, 3:11pm EDT
Ken Elkins
Senior Staff Writer- Charlotte Business Journal
Ten top executives at Denver Global Products Inc. including Roger Leon, president and chief executive have left the company in a dispute with its new Chinese owners.
But the story won稚 end there. 典here is some likely litigation, Leon says.
The disagreement stems from 斗argely differing views and opinions in how to proceed with the company, he says. The executives left the company two weeks ago and will likely come together again around other products, Leon says.
In February 2012, Chongqing RATO Power Co. Ltd. of China announced its purchase of Denver Global from Leon and others and planned to grow to as many as 1,000 production workers in Lincoln County.
At the center of the plan is a small hybrid engine. The design combines a gasoline engine with an electric motor. The system cuts emissions and fuel consumption by combining the two means of power.
Denver Global痴 plan was to sell the system to original equipment manufacturers that would put the hybrid power train into all-terrain vehicles, riding lawn mowers, golf carts and other off-road vehicles. The concept is akin to the hybrid automobiles and trucks being sold by most automakers, Leon explained in interviews last year with the Charlotte Business Journal.
The new chief executive is Mike Parkins, the former chief financial officer. Jin Xiang is Denver Global痴 new president. The company didn't return a call for comment.
Last year, the company began making the hybrid small engines in a huge Lincoln County Industrial Park building. One source who visited the assembly area says employment had reached 300.
RATO and Denver Global are occupying the former Crate & Barrel building in Lincoln County Industrial Park. The companies plan to spend $30.2 million to set up an assembly and distribution center there.