Accuride Emerges from Chapter 11 Bankruptcy

Truck component maker Accuride Corp. said it has successfully completed a reorganization plan and emerged from Chapter 11 bankruptcy after five months.

“Entering Chapter 11 with a pre-arranged agreement and the continued support of our lenders allowed Accuride to emerge in an expeditious manner,” Bill Lasky, Accuride’s chairman and chief executive officer, said in a statement.

The exit will give Accuride a more flexible capital structure, including a $308 million term loan and $140 million of convertible notes, it said in a statement late Friday.

Accuride’s U.S. entities filed a voluntary petition for protection under Chapter 11 of the U.S. Bankruptcy Code in October, when it also gained approval to borrow up to $25 million to continue operations.

Its products include commercial vehicle wheels, wheel-end components and assemblies, truck body and chassis parts, seating assemblies and other commercial vehicle components.