Accuride posts 4th-qtr. loss but eyes long-term growth

Mar 07, 2013 | 05:07 PM | Corinna Petry

Tags  Accuride, 2012 losses, aluminum wheels, steel wheels, wheels, commercial vehicles, Rick Dauch, 2013 forecast Corinna Petry

CHICAGO — Accuride Corp., which manufactures wheels and wheel-end components for commercial vehicles, recorded a net loss of $156.5 million in the fourth quarter of 2012 and $178 million for the year ended Dec. 31. Those losses reflected one-time impairment charges related to goodwill and other assets at its Gunite business unit, as well as other charges.
The Evansville, Ind.-based company’s net sales dropped 27.3 percent to $176.3 million in the fourth quarter due to weaker quarterly economic conditions, while its full-year sales fell less than 1 percent to $929.8 million. ....

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