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BRIEF-Accuride to cut workforce by about 11 pct, take Q3 charge

Date : 23/09/2008 @ 13:24
Source : TFN
Stock : Accuride Corp (ACW)
Quote : 0.17  0.0 (0.00%) @ 13:23
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BRIEF-Accuride to cut workforce by about 11 pct, take Q3 charge

        NEW YORK (Thomson Financial) -     Sept 23 (Reuters) - Accuride Corp: 
    * Announces leadership transition and restructuring initiatives to improve 
      competitiveness 
    * Says workforce reduction of approximately 11%, 
    * Sees one-time Q3 restructuring charges of approximately $14.3 million 
    * Says William M. Lasky appointed interim president and CEO following the 
      resignation of John R. Murphy 
    * Says William Lasky appointed interim president and CEO following the 
      resignation of John R. Murphy 
    * Sees estimated annual cost savings of about $27.5 million 
    * Reaffirms adjusted EBITDA guidance for 2008, excluding charges, at the low 
      end of previously announced range of $85 - 100 million 
     ((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223
8780)) 
Chuck Mikolajczak
cm

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