Wheel manufacturer Accuride Corp. has steered its way out of Chapter 11 bankruptcy.
“Entering Chapter 11 with a pre-arranged agreement and the continued support of our lenders allowed Accuride to emerge in an expeditious manner,” says Bill Lasky, president, CEO and chairman of the board.
“Our improved financial structure, coupled with the respect of our industry brands, will allow us to pursue initiatives to further expand our product offering and geographic penetration,” he reports, “while in-turn providing increased solutions for our customers and greater value for our shareholders.”
The settlement leaves the company with “a more flexible capital structure,” according to Lasky. It had filed for bankruptcy in October of 2009.
Accuride has also filed documents to begin trading its common stock on Wall Street’s Over-the-Counter Bulletin Board. A market symbol will be designated upon approval.
The firm’s lines of wheels, wheel-end components, truck body and chassis parts, seating assemblies and other products include the Gunite, Imperial, Bostrom, Fabco, Brillion, Highway Original and Accuride brands.
For more information, visit www.accuridecorp.com.
