Accuride Corporation of Evansville, Ind., entered bankruptcy proceedings on Oct. 8 with the United States Bankruptcy Court for the District of Delaware.
Twenty-one holdings in all are affected, several of which serve the bus market, including Bostrom Seating, Inc., which manufacturers the RouteMaster line of school bus driver seats.
According to a written statement earlier this month, Accuride, received approval from the bankruptcy court for the “first day motions” necessary to obtain additional funding to continue operations. This includes payment of employee wages, benefits and expenses by granting access to half of the company’s $50 million debtor-in-possession loan. In doing so, Accuride and its subsidiaries can continue to honor current and future customer programs and supplier payments.
Accuride also holds disc-wheel brakes supplier Gunite Corporation and bus chassis and components manufacturer Imperial Group. It also has Transportation Technologies Industries, which manufactures wheel-end components and assemblies, body and chassis parts and seating assemblies for the truck and bus segments. Not to be confused with school bus seat cushion manufacturer Triad-Fabco, the bankruptcy also affects Fabco Automotive Corporation, a producer of school bus and truck components and sub-assemblies.
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