Accuride Corporation Website
Court Confirms Accuride’s Plan of Reorganization
EVANSVILLE, Ind. – Feb. 18, 2010 – Today, Accuride Corporation (OTCBB:
AURDQ) announced that the United States Bankruptcy Court for the District of
Delaware has confirmed the Company’s Plan of Reorganization (the Plan).
“The reorganization plan will allow Accuride to emerge from Chapter 11, after only five
months, with the financial flexibility necessary to ensure the continued pursuit of our
strategic objectives,” said Bill Lasky, Accuride’s President, CEO, and Chairman of the
Board. “This new capital structure, coupled with the significant operational restructuring
initiatives we have implemented, will position the Company for future growth and the
continued leadership of our brands.”
Accuride expects the Plan to become effective on or about February 26, 2010, once all
closing conditions have been met.
“We are extremely grateful for the loyalty and support of our customers, suppliers, and
lenders as we moved through the restructuring process,” added Lasky. “I cannot speak
highly enough of our team members whose dedication ensured the continued safe
production and on-time delivery of quality product, allowing the Company to maintain
strong customer relationships, secure new business, and introduce new products to the
market.”
On October 8, 2009, Accuride’s U.S. entities filed a voluntary petition for protection
under Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware. Additional
information surrounding the Company’s restructuring, including copies of the Plan and
Confirmation Order, is available at www.accurideinfo.com.
Accuride Corporation is one of the largest and most diversified manufacturers and
suppliers of commercial vehicle components in North America. Accuride’s products
include commercial vehicle wheels, wheel-end components and assemblies, truck
body and chassis parts, seating assemblies and other commercial vehicle
components. Accuride’s products are marketed under its brand names, which include
Accuride, Gunite, Imperial, Bostrom, Fabco, Brillion, and Highway Original. For
more information, visit Accuride’s website at www.accuridecorp.com.
Forward-looking statements
Statements contained in this news release that are not purely historical are forward-looking
statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding
Accuride’s expectations, hopes, beliefs and intentions with respect to the Plan, its restructuring
transaction and its new capital structure. Accuride’s actual future results could differ materially
from those expressed or implied in such forward-looking statements, and such statements are
subject to a number of risks, uncertainties and other factors. These factors include, among other
things, delays in the effective date of the Plan, the failure to satisfy certain conditions of the Plan
and whether Accuride is ultimately able to consummate the transactions contemplated by the
Plan. In addition, such statements are subject to the impact on Accuride’s business and
prospects generally of, among other factors, market demand in the commercial vehicle industry,
general economic, business and financing conditions, labor relations, governmental action,
competitor pricing activity, expense volatility and other risks detailed from time to time in
Accuride’s Securities and Exchange Commission filings, including those described in Item 1A of
Accuride’s Annual Report on Form 10-K for the fiscal year ended December 31, 2008. Any
forward-looking statement reflects only Accuride’s belief at the time the statement is made.
Although Accuride believes that the expectations reflected in these forward-looking statements
are reasonable, it cannot guarantee its future results, levels of activity, performance or
achievements. Except as required by law, Accuride undertakes no obligation to update any
forward-looking statements to reflect events or developments after the date of this news release.