Reorganized Accuride Corporation Shares to Commence Trading on OTCBB
EVANSVILLE, Ind.--Accuride Corporation (OTCBB: ACUZ), one of the largest and most diversified manufacturers and suppliers of commercial vehicle components in North America, announced today the Company’s new common stock will commence trading on the Over-the-Counter Bulletin Board (OTCBB) under the symbol “ACUZ” no later than March 4, 2010.
Prior to the Effective Date of its Plan of Reorganization, shares of Accuride Corporation traded as OTCBB: AURDQ. On the Effective Date, Accuride’s then outstanding common stock was cancelled, and Accuride issued new shares of common stock as provided in its Plan of Reorganization. All shares of new common stock will trade under the symbol “ACUZ”.
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. On February 26, 2010, the Company emerged from Chapter 11 with a new capital structure. Additional information surrounding the Company’s restructuring including details of the Plan 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 http://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 consummation of the Plan and its ability to transition out of Chapter 11. 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.