Accuride Announces Second Phase of Restructuring Plan to Increase Efficiency and Further Reduce Costs

EVANSVILLE, Ind. December 15, 2008: Today, Accuride Corporation (OTCBB: AURD) announced plans to significantly reduce its fixed costs and increase efficiencies through Phase Two restructuring initiatives including the consolidation of the Company’s aluminum wheel facilities and redeployment of equipment in its component businesses.

Total costs associated with the Phase Two restructuring over the next five quarters include approximately $16.3 million in expenses plus $10 million in capital expenditures. The Company expects $8 million of cash expenses, including severance of $4.1 million, relocation of $2.9 million, and lease cost of $1.0 million. The Company will recognize $2.2 million of severance costs in the fourth quarter of 2008 which will impact cash in 2009. In addition, the Company will recognize a non-cash write off / accelerated depreciation of approximately $8.3 million related to the decommission of assets. It is anticipated that the restructuring will save the Company an estimated $5.6 million in 2009 and generate annual cost savings of approximately $15.4 million thereafter.

“As a means to eliminate significant fixed overhead costs and to best streamline the production of aluminum wheels, we have made the decision to close our Cuyahoga Falls, Ohio, aluminum wheel manufacturing facility,” said Bill Lasky, Accuride’s President and CEO. “Manufacturing equipment from this facility will be relocated to our Erie, Pennsylvania, aluminum wheel facility. This consolidation will allow us to increase the efficiency of our operations, decrease costs, and ensure competitiveness while not impacting our ability to meet customer needs during peak industry build levels.”

Accuride will maintain production in Cuyahoga Falls until all customer orders can be fulfilled through production at Accuride's Erie facility. Consolidation of the aluminum wheel operations should be completed by the close of the third quarter of 2009. Currently, the Cuyahoga Falls facility employs approximately 130 workers.

Additionally, the Company will redeploy some of its component manufacturing equipment. Through this relocation, the Company will realize cost reductions in logistics and other operational efficiencies.

“Going forward we will continue to evaluate and pursue initiatives that will further reduce our cost structure,” added Lasky.

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, and Brillion. For more information, visit Accuride’s website at ACCURIDE.