EVANSVILLE, Ind. -- The United States Bankruptcy Court for the District of Delaware has confirmed Accuride's Plan of Reorganization. Accuride’s U.S. entities filed a voluntary petition for protection under Chapter 11 of the U.S. Bankruptcy Code in the District of Delaware on Oct. 8, 2009.

“The reorganization plan will allow Accuride to emerge from Chapter 11, after only five months, with the financial flexibility necessary to ensure the continued pursuit of our strategic objectives,” said Bill Lasky, Accuride’s president, CEO and chairman of the board. “This new capital structure, coupled with the significant operational restructuring initiatives we have implemented, will position the company for future growth and the continued leadership of our brands.”

Accuride expects the plan to become effective on or about Feb. 26, once all closing conditions have been met.

“We are extremely grateful for the loyalty and support of our customers, suppliers and lenders as we moved through the restructuring process,” added Lasky. “I cannot speak highly enough of our team members whose dedication ensured the continued safe production and on-time delivery of quality product, allowing the company to maintain strong customer relationships, secure new business and introduce new products to the market.”