Accuride's Cuyahoga Falls Plant Fire Update: Plant Resumes Production.Business Editors EVANSVILLE, Ind.--(BUSINESS WIRE)--Aug. 28, 2003 Today, Accuride Corporation issued an update about the fire damage sustained at its aluminum machining and finishing facility in Cuyahoga Falls, Ohio Cuyahoga Falls is a city in Summit County, Ohio, United States. As of the 2003 census, the city population was 50,375. It is currently the second largest city in Summit County. It is considered a suburb of both Akron and Cleveland, but is actually older than Akron. on August 14, 2003. The Company reports that its Cuyahoga Falls Cuyahoga Falls, city (1990 pop. 48,950), Summit co., NE Ohio, on the Cuyahoga River; inc. 1836. On its course through the city the river drops 220 ft (67 m) through a series of falls and rapids. facility has resumed approximately 65% of its operations at this time. The Company anticipates that full capacity could be restored within ten to fourteen days. The Company continues to take aggressive action to meet the needs of its customers and minimize disruption of customer production by both maximizing its machining production at its Erie, Pennsylvania “Erie” redirects here. For other uses, see Erie (disambiguation). Erie (pronounced IPA: /ˈɪəri/) is a major industrial city on the shore of Lake Erie in the northwestern corner of the U.S. Plant and by utilizing contract manufacturers qualified to make Accuride products to augment its internal production capabilities. All extraordinary production measures will stay in force until the requirements of Accuride customers have been met. The Company believes that property and business interruption insurance Noun 1. business interruption insurance - insurance that provides protection for the loss of profits and continuing fixed expenses resulting from a break in commercial activities due to the occurrence of a peril and its aggressive actions to supply product to its customer base should greatly mitigate financial impact. "Accuride Cuyahoga Falls employees with support from other Company facilities, City personnel and a Disaster Recovery Team have done an exceptional job of getting the plant back up and running," said Terry Keating, Accuride's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . He added, "Our recovery is running ahead of our optimistic plan." Accuride Corporation is North America's largest manufacturer and supplier of wheels for heavy/medium trucks and trailers. The Company offers the broadest product line in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. heavy/medium wheel industry and is the only North American manufacturer and supplier of both steel and forged aluminum heavy/medium wheels. Accuride Corporation also produces wheels for buses, commercial light trucks, pick-up trucks sport utility vehicles This page lists sports utility vehicles currently in production (as of April 2007), as well as past models. The list includes crossover SUVs, Mini SUVs, Compact SUVs and other similar vehicles. , and vans. Accuride Corporation has steel wheel operations in Henderson, Kentucky Henderson is a city located in Henderson County, along the Ohio River in Western Kentucky. It was called "Red Banks" by the native Americans who originally lived and hunted there because of the reddish clay soil on the banks of the river. ; London, Ontario, Canada; and in Monterrey, Mexico. Accuride has aluminum wheel operations in Erie, Pennsylvania, and Cuyahoga Falls, Ohio. Additionally, the Company produces tire molds at its Erie, Pennsylvania, facility. Accuride is also involved in a commercial tire and wheel assembly joint venture in Springfield, Ohio Springfield is a city in the U.S. state of Ohio and the county seat of Clark CountyGR6. The municipality is located in southwestern Ohio and is situated on the Mad River and Buck Creek, approximately 45 miles (72 km) west of Columbus and 25 miles (40 . For more information, visit Accuride's website at http://www.accuridecorp.com. Statements contained in this news release that are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, including statements regarding the Company's expectations, hopes, beliefs and intentions on strategies regarding the future. It is important to note that the Company's actual future results could differ materially from those projected in such forward-looking statements because of a number of factors, including but not limited to 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 the Company's Securities and Exchange Commission filings. With respect to the fire at the Company's Cuyahoga Falls 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 maximize production at its Erie, Pennsylvania plant and the ability to outsource machining and finishing operations. |
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