Today, Accuride Corporation (NYSE: ACW) confirmed that Lehman Commercial Paper Inc. currently represents 19 percent of Accuride�s undrawn $125 million revolving credit facility. Parent company of Lehman Commercial Paper Inc., Lehman Brothers Holdings Inc. (LEH) filed for bankruptcy protection on Monday, September 15, 2008. Accuride does not believe the impact of the bankruptcy, which could range from $0 to $24 million in reduced availability under the credit facility, will be material to its overall liquidity position. Cash flow from operations and the balance of the undrawn revolver are expected to provide adequate liquidity going forward, even if Lehman were unable to fund its representative portion of the credit revolver. Accuride has no other exposure to Lehman Brothers or its affiliates. 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 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 the Private Securities Litigation Reform Act of 1995, including statements regarding the Company's expectations, hopes, beliefs and intentions on strategies regarding Accuride�s future results. It is important to note that the Company's actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including but not limited to, 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 the Company�s Securities and Exchange Commission filings.
Accuride (NYSE:ACW)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Accuride Charts.
Accuride (NYSE:ACW)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Accuride Charts.