EVANSVILLE, IN – Accuride has announced that it has completed its acquisition of Vancouver, Washington-based wheel and wheel end component supplier KIC.
“Today’s announcement initiates the process of creating a single wheel end system business at Accuride that leverages the tremendous strengths of Gunite and KIC, while maintaining both strong brand,” said Rick Dauch, president and Chief Executive Officer of Accuride. “Over the next 60 to 90 days, the Accuride and KIC leadership teams will work closely together to further develop and finalize our plan to maximize the synergies between our highly complementary businesses.”
As the transaction comes to a close, Dauch will continue to lead the company while KIC president John Schneider, KIC Chief Operating Officer Omar Fakhoury and Gunite president Gregory Risch will be responsible for executing the company’s plan to integrate KIC and Gunite and will report to Dauch. Greg Hatton, co-founder of KIC, will join Accuride’s Board of Directors and will assist with the integration process.
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