LAS VEGAS. Having invested $150 million over the last two years in restructuring and expanding its core wheel and wheel-end business, Accuride Corp. announced that the investment has allowed it to secure new long-term agreements with three truck manufacturers and two trailer makers.
Over one-third of the investment has been spent doubling the company’s aluminum wheel production capacity, Accuride president and CEO Rick Dauch said at a press conference during the Heavy Duty Aftermrket Week conference. And $35 million has been used to consolidate and upgrade its Gunite brake drum, slack adjuster and wheel hub manufacturing operation.
The company also used its investment funds to overhaul its IT structure, expand R&D and test facilities, and make necessary upgrades to its facilities, according to Dauch. In addition to the initial $155 million, Accuride will invest an addition $30 million by 2015 to upgrade its steel wheel plant.
“We’ve been in a ‘fix’ mode, reinvesting and reorganizing our core businesses for the last two years,” Dauch said. “That’s just about finished and we're now moving into our growth phase.”