TBC shares added to stock index
MEMPHIS, Tenn.-TBC Corp. has been chosen for inclusion in the Russell 2000 stock market index.
The Russell 2000 is one of 21 U.S. equity indexes published by Frank Russell Co., a leading investment services firm.
Frank Russell Co. uses its indexes in its investment research, TBC said, noting a number of mutual funds are organized specifically to invest in a portfolio of equities matching one or more of the company's market indexes.
Each year, Frank Russell adjusts the indexes to rank the 3,000 largest companies in the U.S. stock market by market capitalization.
TBC CEO Larry Day said his company is pleased with its addition to the Russell 2000, which formally takes place July 9. ``We believe inclusion in the Russell 2000 Index should increase investor interest in TBC and thereby enhance the marketability of our shares,'' he said.
Accuride closing Mo. wheel plant
EVANSVILLE, Ind.-Accuride Corp., North America's largest producer of wheels for medium and heavy trucks and trailers, will close its Columbia, Tenn., wheel plant and consolidate production at other facilities.
Accuride expects to complete its consolidation by the third quarter of 2002. The firm will maintain production in Columbia until all customer orders can be fulfilled through production at Accuride's other facilities.
The consolidation will eliminate significant fixed overhead costs and will allow Accuride to be price competitive in the light steel wheel market, the company said.
The firm makes wheels for buses, commercial light trucks, sport-utility vehicles and passenger cars at facilities in Henderson, Ky. Columbia, Tenn., London, Ontario, and Monterrey, Mexico. It also makes aluminum wheels in Erie, Pa., and Cuyahoga Falls, Ohio.