Accuride gets $25 million asset-based credit facility add-on

By Sara Rosenberg

New York, Feb. 7 - Accuride Corp. closed on a $25 million incremental asset-based loan, according to a news release.

The incremental debt was added to the company's existing secured asset-based facility that was obtained on July 29, 2010.

"We are pleased to complete the expansion of our existing ABL agreement, which paves the way for the successful execution of our business plan's $75 million of planned capital expenditures in 2012," said Greg Risch, vice president and interim chief financial officer, in the release.

"We anticipate that our revised capital structure will provide us with greater flexibility to serve our customers during the industry upturn that is underway in North America. In addition, we are negotiating new equipment lease agreements that we expect will further enhance liquidity in 2012," Risch continued.

Accuride is an Evansville, Ind.-based supplier of components to the commercial vehicle industry.

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