Released on December 21, 2009

Hayes Lemmerz International Inc., Northville, Mich., announced it has emerged from Chapter 11 reorganization, which it applied for in May.

The company reports that its creditors voted in favor of its plan for reorganization, which was confirmed on Nov. 3 by the U.S. Bankruptcy Court for the District of Delaware.

Hayes Lemmerz announced in a press release that its total consolidated prepetition funded indebtedness of approximately $720 million has been reduced to approximately $240 million. In addition, its legacy retiree medical and pension liabilities in the U.S. of over $250 million are expected to be less than $75 million. In conjunction with its emergence from Chapter 11, Hayes Lemmerz completed its exit financing facility. The facility consists of a new $200 million term loan.

“Hayes has continued to win significant new business throughout the restructuring process, and we are extremely grateful to our customers for their confidence in our future,” said Curtis Clawson, chairman and chief executive officer of the company. “We are comfortable that our exit financing will provide us with the liquidity to fund operating expenses and meet all of our obligations.”

Hayes Lemmerz produces aluminum and steel wheels for passenger cars and light trucks and steel wheels for commercial trucks and trailers. The company operates 23 facilities, including business, sales offices and manufacturing facilities, in 12 countries around the world.