Wheel maker Hayes Lemmerz emerges from bankruptcy

ERJ staff report (AN)

WILMINGTON, Del. (Reuters) — Automotive wheel maker Hayes Lemmerz International Inc. emerged from Chapter 11 bankruptcy on Monday after slashing debt and costs to better match declines in auto production.

The Northville, Michigan-based company emerged with $240 million in debt, down from the $720 million it had when it filed for bankruptcy in May.

The company also sought bankruptcy protection in 2001 and emerged from that filing in 2003. Hayes Lemmerz plans to diversify its operations globally to lessen its reliance on the United…

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