Hayes Lemmerz International, Inc. Receives Notification of Deficiency from NASDAQ
08 Mai 2009 - 11:09PM
PR Newswire (US)
NORTHVILLE, Mich., May 8 /PRNewswire-FirstCall/ -- Hayes Lemmerz
International, Inc. ("Hayes") (NASDAQ:HAYZ) announced today that on
May 4, 2009, it received a letter from the NASDAQ Stock Market
("Nasdaq") notifying Hayes that it was no longer in compliance with
the rules for continued listing according to Listing Rule
5250(c)(1) as a result of its failure to file its Annual Report on
Form 10-K for the fiscal year ended January 31, 2009 (the "Form
10-K") with the United States Securities and Exchange Commission
within the required period. Hayes has until July 3, 2009, to submit
a plan to regain compliance with Nasdaq's continuing listing
standards. Hayes expects to file its Form 10-K on or before May 15,
2009. The notification has no effect on the listing of the common
stock of Hayes at this time. About Hayes Lemmerz International,
Inc. Originally founded in 1908, Hayes Lemmerz International, Inc.
is a leading worldwide producer of aluminum and steel wheels for
passenger cars and light trucks and of steel wheels for commercial
trucks and trailers. The Company is also a supplier of automotive
powertrain components. The Company has global operations with 23
facilities, including business and sales offices and manufacturing
facilities located in 12 countries around the world. The Company
sells products to every major North American, Asian and European
manufacturer of passenger cars and light trucks and to commercial
highway vehicle customers throughout the world. Forward Looking
Statements This press release contains forward-looking statements
with respect to our financial condition and business. All
statements other than statements of historical fact made in this
press release are forward-looking. Such forward-looking statements
include, among others, those statements including the words
"expect," "anticipate," "intend," "believe," and similar language.
These forward-looking statements involve certain risks and
uncertainties. Our actual results may differ significantly from
those projected in the forward-looking statements. Factors that may
cause actual results to differ materially from those contemplated
by such forward-looking statements include, among others: (1)
competitive pressure in our industry; (2) fluctuations in the price
of steel, aluminum, and other raw materials and our ability to
maintain credit terms with our suppliers; (3) changes in general
economic conditions; (4) our dependence on the automotive industry
(which has historically been cyclical) and on a small number of
major customers for the majority of our sales; (5) pricing pressure
from automotive industry customers and the potential for
re-sourcing of business to lower-cost providers; (6) changes in the
financial markets or our debt ratings affecting our financial
structure and our cost of capital and borrowed money; (7) the
uncertainties inherent in international operations and foreign
currency fluctuations; (8) our ability to reach agreement with our
creditors regarding strategic and financial planning for the
Company; and (9) the risks described in our most recent Annual
Report on Form 10-K and our periodic statements filed with the
United States Securities and Exchange Commission. You are cautioned
not to place undue reliance on the forward-looking statements,
which speak only as of the date of this press release. DATASOURCE:
Hayes Lemmerz International CONTACT: Eric Moraw, Hayes Lemmerz
International, Inc., +1-734-737-5679 Web Site:
http://www.hayes-lemmerz.com/
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