- Agreement lends stability, solidifies competitiveness for the advanced aluminum wheel facility
EVANSVILLE, Ind., May 21, 2014 (GLOBE NEWSWIRE) -- Accuride Corporation (NYSE:ACW), a leading supplier of components to the North American commercial vehicle industry, today announced that it has successfully reached a new four-year collective bargaining agreement with the International Union, United Automobile, Aerospace and Agricultural Implement Workers of America (UAW), Local 1186, which represents approximately 209 hourly associates at Accuride's aluminum wheel manufacturing facility in Erie, Pennsylvania.
Accuride President and CEO Rick Dauch praised the positive outcome, saying, "Accuride is extremely pleased to have amicably reached a new agreement at Erie – well ahead of schedule – that will provide continued stability and competitiveness for our industry-leading aluminum-wheel production facility. This shared achievement reflects both the strengths and talents of our Erie associates and the spirit of teamwork that exists at the facility. The agreement follows our three-year investment in new production equipment and processes that have enabled the Erie plant to achieve world-class operating standards, and provides flexibility to meet increasing customer demand as the North American commercial vehicle industry recovery continues."
The parties' existing collective bargaining agreement was entered into in August 2010 and will expire at midnight on September 3, 2014. The new agreement is effective September 4, 2014, through September 3, 2018.
About Accuride Corporation
With headquarters in Evansville, Ind., USA, Accuride Corporation is a leading supplier of components to the North American commercial vehicle industry. The company's products include commercial vehicle wheels; wheel-end components and assemblies; and specialty cast-iron components for a range of agricultural, construction and mining, and oil and gas equipment applications. The company's products are marketed under its brand names, which include Accuride®, Accuride Wheel End SolutionsTM, Gunite®, and BrillionTM. 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 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 Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding Accuride's expectations, hopes, beliefs, and intentions with respect to future results. Such statements are subject to the impact on Accuride's business and prospects generally of, among other factors, 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 Accuride's Securities and Exchange Commission filings, including those described in Item 1A of Accuride's Annual Report on Form 10-K for the fiscal year ended December 31, 2013. Any forward-looking statement reflects only Accuride's belief at the time the statement is made. Although Accuride believes that the expectations reflected in these forward-looking statements are reasonable, it cannot guarantee its future results, levels of activity, performance or achievements. Except as required by law, Accuride undertakes no obligation to update any forward-looking statements to reflect events or developments after the date of this news release.