LAS VEGAS, Nev. -- Accuride Corporation has announced that its “Fix and Grow” actions to restructure and upgrade core operations have improved operational performance and enabled the company to secure new long-term agreements for steel and aluminum wheels. Accuride made the announcement during a news briefing today at Heavy Duty Aftermarket Week 2013 in Las Vegas.
In 2011, Accuride launched a two-year, $150 million investment program to restructure and expand its core wheel and wheel-end component operations, and upgrade the capabilities of each of its four business units. These investments included, among others:
- $55 million for additional aluminum wheel capacity,
- More than $35 million to restructure and upgrade its Gunite business, and
- $21 million in environmental and safety-related facility upgrades.
Today, with its aluminum wheel manufacturing investments complete, Accuride officials say the company has doubled its production capacity for forged aluminum wheels, while Gunite’s program to install advanced machining and assembly equipment, upgrade casting and consolidate its manufacturing footprint is 90% complete. Accuride says it is planning for more than $30 million in steel wheel facility upgrades during 2013-15 and will announce details of its 2013 capital program later this year.
“The majority of our program to restore dependable operational performance across Accuride is now complete and already yielding gains in product quality, delivery, lead-times, pricing and competitiveness,” said Rick Dauch, Accuride president and CEO. “Thanks to the investments we have made in our core business, we are quickly regaining customers’ faith in our ability to support their needs while positioning ourselves for the projected market recovery to come.”