LONDON, Ont. — Accuride has announced plans to pump US$13.5 million into its London, Ont. facility within the next two years.
The company will construct a new 50,000-square-foot building to increase capacity and add a paint facility, sources tell local media.
“Those basic details are essentially correct,” operations manager Alastair Brent confirms. The London expansion is part of a consolidation plan by Accuride, manufacturer of heavy-, medium- and light-duty truck rims and wheels.
Accuride has steel wheel operations in London, Henderson, Ky., Columbia, Tenn. and Monterrey, Mexico.
The company is also involved in the production and sale of aluminum wheels in Erie, Pa., and in a commercial tire and wheel assembly joint venture in Springfield, Ohio and Talbotville, near London.
In a news release, the company announced it will be closing its Columbia operation and moving production elsewhere.
The company says its restructuring was spurred by a 36 per cent downturn in its market due to the massive decline in truck manufacturing across North America.
Company president Bill Greubel said this week, “There are clear signs that we are now near the bottom of the cycle. The industry backlog appears to have stabilized.”