Hayes Lemmerz International, Inc. Receives Delisting Notice from NASDAQ
May 15 2009 - 5:00PM
PR Newswire (US)
NORTHVILLE, Mich., May 15 /PRNewswire-FirstCall/ -- Hayes Lemmerz
International, Inc. (NASDAQ:HAYZ) ("Hayes" or the "Company")
announced today that on May 12, 2009, the NASDAQ Stock Market
("NASDAQ") notified the Company that, in accordance with Listing
Rules 5100 and 5110(b), as a result of the Company's filing of
petitions under Chapter 11 of the United States Bankruptcy Code,
the Company's common stock will be delisted by NASDAQ and trading
will be suspended at the opening of business on May 21, 2009. As
required by NASDAQ Listing Rule 5250(b)(2) and as previously
disclosed, the Company also said that its audited financial
statements included in its Annual Report on Form 10-K for the
fiscal year ended January 31, 2009, contained a going concern
qualification from the Company's independent registered public
accounting firm. As announced on May 11, 2009, the Company, certain
of its U.S. subsidiaries and one (non-operating) international
subsidiary filed voluntary petitions for relief under Chapter 11 of
the U.S. Bankruptcy Code in the District of Delaware. More
information on the Company's restructuring is available on the
"Restructuring Information" page on the Company's website
(http://www.hayes-lemmerz.com/), or through the Company's
Restructuring Information Hotline, 888.753.5296 (for calls in the
USA) or +1.734.737.5086 (for calls outside the USA). About Hayes
Lemmerz International, Inc. Originally founded in 1908, Hayes
Lemmerz International, Inc. is a leading worldwide producer of
aluminum and steel wheels for passenger cars and light trucks and
of steel wheels for commercial trucks and trailers. The Company is
also a supplier of automotive powertrain components. The Company
has global operations with 23 facilities, including business, sales
offices and manufacturing facilities, located in 12 countries
around the world. The Company sells products to every major North
American, Asian and European manufacturer of passenger cars and
light trucks and to commercial highway vehicle customers throughout
the world. Forward Looking Statements Some of the statements in
this press release constitute "forward-looking statements" within
the meaning of the United States Private Securities Litigation
Reform Act of 1995, including, without limitation, certain
statements regarding the reorganization of the Company's business
and finances to improve its liquidity and operational results, the
sufficiency of liquidity to be provided by the debtor-in-possession
financing, anticipated authorizations being requested of the
Bankruptcy Court and expectations as to the ability to make
post-petition payments. Words such as "will," "expects,"
"believes," "intends" and similar expressions are used to identify
these forward-looking statements. Forward-looking statements are
based on current expectations, estimates and projections concerning
future developments and their potential effects upon the Company
and its subsidiaries. These statements are only predictions and as
such are not guarantees of future performance and involve risks,
uncertainties and assumptions that are difficult to predict and
actual results may differ materially from those projected. Factors
that could cause actual results to differ materially from those
projected in such forward-looking statements include risks and
uncertainties in connection with the Chapter 11 proceedings and
their possible effects on the Company and its subsidiaries as well
as other risks described under "Risk Factors" and elsewhere in the
Company's Annual Report on Form 10-K and subsequent filings with
the Securities and Exchange Commission. The Company does not
intend, and is under no obligation, to update any particular
forward-looking statements, whether as a result of new information,
future events or otherwise. DATASOURCE: Hayes Lemmerz
International, Inc. CONTACT: Marika Diamond, 1-888-753-5283,
+1-734-737-5089 Web Site: http://www.hayes-lemmerz.com/
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