Accuride names Keating president and CEO

EVANSVILLE, Ind. (April 29, 2002, via truckinginfo.com) — Accuride Corp. appointed Terry Keating as its new president and CEO and elected him to the board of directors, effective May 1. Keating is currently senior vice president and general manager of Accuride’s wheel division. He replaces Bill Greubel, who resigned to join Wabash National Corp.

Prior to joining Accuride in 1996 as the vice president of operations, Keating was the manager of the Indianapolis diesel engine plant of International Truck and Engine Corp.

Separately, Accuride said it expects improved first quarter results with adjusted EBITDA of $13.1 million compared to $10 million for the first quarter of 2001, an increase of 31.4 percent. Net sales for the quarter were $77.8 million compared to net sales of $90.9 million for the prior year.

“We are pleased to see that, despite a 14-percent decrease in revenue, our margins have increased by 580 basis points as we work our cost and productivity programs throughout the company,” said Keating.

“Although sales continue to be soft, the strong first quarter Class 8 net order activity will bode well for sales increases in the upcoming quarters.”