Accuride Disappointed In ITC Ruling On Chinese Steel Wheel Imports
Accuride Corporation (NYSE: ACW) – a leading supplier of steel wheels
and other components to the commercial vehicle industry – today received
notification that the United States International Trade Commission...
Accuride Corporation (NYSE: ACW) – a leading supplier of steel wheels and other components to the commercial vehicle industry – today received notification that the United States International Trade Commission (ITC) has made a negative final determination in its investigation into the impacts of certain Chinese-manufactured steel wheels on the domestic commercial vehicle steel wheel production industry, which includes Accuride and its co-petitioner Maxion Wheels. Although issuing a favorable preliminary ruling, and despite a favorable final ruling from the Department of Commerce, the ITC made a final determination that the domestic United States commercial vehicle steel wheel industry was not injured or threatened with injury by the subject imports. The co-petitioners will review the written decision after it is issued and determine whether an appeal is appropriate. Rick Dauch, Accuride’s President and Chief Executive Officer, stated, “While we are disappointed in the ITC determination, I am confident that Accuride has everything it takes to be the premier supplier of wheel-end system solutions to the global commercial vehicle industry. This includes a highly-skilled, dedicated workforce; superior testing processes and quality standards; and high-quality, competitively-priced products. On behalf of all Accuride associates, I would like to express my appreciation to the members of Congress who testified in support of our petition, our customers and all the hard-working men and women of the American steel wheel industry.” About Accuride CorporationWith headquarters in Evansville, Ind., USA, Accuride Corporation is a leading supplier of components to the commercial vehicle industry. The company’s products include commercial vehicle wheels, wheel-end components and assemblies, truck body and chassis parts, and other commercial vehicle components. The company’s products are marketed under its brand names, which include Accuride ®, Gunite ®, Imperial TM and Brillion TM. Accuride’s common stock trades on the New York Stock Exchange under the ticker symbol ACW. For more information, visit the Company’s website at www.AccurideCorp.com.