-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IKvabc1tizayao5k0jqYWGcpmUTqU2vnpDXa1/guv9eIpuxaojMOURQRq/fcUWiM oFU2pkH/ugZ4rTq/kRouIw== 0001104659-06-045456.txt : 20060706 0001104659-06-045456.hdr.sgml : 20060706 20060705202737 ACCESSION NUMBER: 0001104659-06-045456 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060703 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20060706 DATE AS OF CHANGE: 20060705 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ACCURIDE CORP CENTRAL INDEX KEY: 0000817979 STANDARD INDUSTRIAL CLASSIFICATION: MOTOR VEHICLE PARTS & ACCESSORIES [3714] IRS NUMBER: 611109077 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32483 FILM NUMBER: 06946125 BUSINESS ADDRESS: STREET 1: ACCURIDE STREET 2: 7140 OFFICE CIRCLE CITY: EVANSVILLE STATE: IN ZIP: 47715 BUSINESS PHONE: 8129625000 8-K 1 a06-14918_18k.htm CURRENT REPORT OF MATERIAL EVENTS OR CORPORATE CHANGES

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


 

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 3, 2006

ACCURIDE CORPORATION
(Exact Name of Registrant as Specified in Charter)

 Delaware

001-32483

61-1109077

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

7140 Office Circle, Evansville, IN                                                   47715
(Address of Principal Executive Offices)                                         (Zip Code)

Registrant’s telephone number, including area code (812) 962-5000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 




 

Item 7.01.                                          Regulation FD Disclosure

On July 3, 2006, Accuride Corporation issued a press release regarding temporary production outages at its Erie, Pennsylvania plant. A copy of this press release, including information concerning forward-looking statements and factors that may affect future results, is attached hereto as Exhibit 99.1. This press release is being furnished, not filed, under Item 7.01 in this Report on Form 8-K.

Item 9.01.                                          Financial Statements and Exhibits

(d)           Exhibits

                99.1              Press Release of Accuride Corporation, dated July 3, 2006.

2




 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

ACCURIDE CORPORATION

 

 

 

Date: July 5, 2006

 

/s/ David K. Armstrong

 

 

David K. Armstrong

 

 

Senior Vice President / Finance and

 

 

General Counsel

 

3




 

EXHIBIT INDEX

 

Exhibit Number

 

Description

99.1

 

Press Release, dated July 3, 2006, entitled “Accuride Corporation Announces Aluminum Wheel Forging Presses Operating At Full Production Following Outages.”

 

4



EX-99.1 2 a06-14918_1ex99d1.htm EX-99

 

Exhibit 99.1

Media Contact:

Eva Schmitz

 

Phone:

(812) 962-5011

 

FOR IMMEDIATE RELEASE

Accuride Corporation Announces Aluminum Wheel Forging Presses
Operating at Full Production Following Outages

Aluminum Cost Pressures Continue

Evansville, Ind. — July 03, 2006 — Today, Accuride Corporation (NYSE:  ACW) announced that all forging presses located at its Erie, Pennsylvania, facility have returned to full production levels, following the breakdown of two presses.

“Earlier this quarter, Accuride lost production capability on one of our forging presses located in Erie. While assessment and repair of the equipment was taking place, another of our presses malfunctioned. Unfortunately, neither repair was a quick fix. As a result of these unexpected events, approximately two-thirds of our aluminum forging equipment was rendered temporarily inoperable,” explained Terry Keating, Accuride’s CEO.

“All Accuride machinery is maintained to ensure a high level of reliability,” added Keating. “As a result of the recent outages, we have expanded our preventative maintenance procedures above and beyond levels previously in place.”

“Our gratitude is extended to our customers who have remained flexible, understanding, and loyal, throughout this situation,” expressed Keating.

-more-




 

Total costs of the repairs and press downtime, including gross margin on lost sales of aluminum wheels, could exceed $6.5 million, before income taxes. However, insurance coverage is expected to partially offset this impact. The amount of this offset has not yet been determined.

As previously reported, Accuride continues to experience pressures on margins as a result of rising aluminum prices. “From January through May of this year, the cost of aluminum has risen approximately 40 percent,” explained Keating. “We have cost recovery actions in place with our customers; however, the lag impact of aluminum price adjustment indices we currently have with major accounts will hinder our ability to achieve full recovery in 2006. Customer relations issues surrounding the press outages will further exacerbate our ability to recover these rising costs this year.”

“We are certainly disappointed with the temporary loss of manufacturing capacity and the high aluminum raw material costs that are effecting our wheels business; however, our core operations remain solid and cash flow remains strong,” said Keating. “With this in mind, on June 12, 2006, the Company paid down an additional $30 million of term debt.”

The Company plans to report its financial results for the second quarter of 2006 on August 7, 2006, and will provide additional commentary about the outlook for the remainder of 2006 at that time. The Company does not expect to update 2006 guidance prior to such date. Generally, the Company does not provide information regarding annual guidance except when announcing quarterly financial results.

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.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 for Accuride Corporation: All comments relating to any future period are forward-looking statements, subject to uncertainties and risk that could cause actual results to vary materially from what is suggested here. These statements are subject to risks and uncertainties, including without limitation, the general market conditions, the Company’s continued market share levels, the specific market for the Company’s common stock, the performance of the Company’s business and other risks detailed from time-to-time in Accuride’s filings and reports with the Securities and Exchange Commission. With respect to the disruption in production at the Company’s Erie, Pa., facility, the following risks and uncertainties should also be taken into consideration:  the timely resumption of production at the facility, the adequacy and timing of insurance recoveries, the ability of the Company to procure forgings, the timely repair of equipment and the ability to maintain market share and future customer orders.

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