TRUCKING PRODUCTS WORLDWIDE
* USA - Accuride plans 392 job cuts after CEO resigns
Evansville,IND,USA -Associated Press/The Chicago Tribune -September 23, 2008: -- Accuride Corp., a maker of commercial vehicle wheels and other trucking industry products, announced Tuesday the resignation of its CEO and plans to cut nearly 400 jobs -- 11 percent of its work force -- in a company shake-up... The company has been struggling along with other companies that serve the trucking industry, which has been hit hard by high fuel prices... Aside from cutting 392 positions, Accuride said it will also take a charge of about $14.3 million in the third quarter. Company officials said the moves will save the company $6 million in 2008 and generate annual savings of about $27.5 million thereafter... Accuride said orders for large truck and trailer components have struggled and that the "freight environment remains weak and trucker profitability remains low following record high fuel prices," it said... Last month, the company reported that its second-quarter net profits plunged 31 percent while sales were flat...
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