Accuride Corporation, a Delaware corporation, and Accuride Canada Inc., a corporation formed under the laws of the province of Ontario, Canada, and a wholly-owned subsidiary of Accuride Corp., were incorporated in November 1986 for the purpose of acquiring substantially all of the assets and assuming certain liabilities of Firestone Steel Products, which was established in 1905 as the first “spinoff” of the Firestone Tire and Rubber Company. Accuride Corp. was formed by Firestone Steel Products’ management and Bain Capital.
The respective acquisitions by the companies were consummated in December 1986; the company’s name was changed to Accuride (derived from a line of steel wheels previously marketed under Firestone as “ACCU-RIDE”); and a number of impactful decisions were made that significantly bolstered the company’s profitability and market share.
Accuride Corp. was sold to Phelps Dodge Corp., primarily a mining company, in 1988.
Throughout its history, to ensure that customers receive precisely what they want, Accuride Corp. has been willing to expand and create new ventures. For example, Assemblies on Time (AOT) was established in 1992 in Springfield, Ohio, as a joint venture with Goodyear Tire and Rubber Company to custom fit wheels with tires to be installed on one of the world’s most popular heavy trucks. In 2006, AOT became an Accuride facility. Realizing that one of the best methods to sustain its competitive edge was to diversify its product line, Accuride Corp. entered into a partnership with Kaiser Aluminum and Chemical Corporation in 1997. This partnership solidified a bond first established between the two companies in 1972. Having already become the North American leader in steel wheel production, the newly-formed joint venture, AKW L.P., allowed Accuride to become an emerging leader in the growing forged aluminum wheel market. Then, in 1999, as a demonstration of its increasing commitment to the aluminum wheel market, Accuride acquired Kaiser Aluminum’s 50 percent share of AKW L.P. to become its sole owner.
Also in 1997, in efforts to strengthen its position in North America, Accuride Corp. partnered with Industria Automotriz S.A. (IaSa) of Monterrey, Mexico, to create the joint venture Accuride de Mexico. In 1999, Accuride purchased IaSa’s share of AdM. This opened the doors to the emerging South American market and afforded Accuride the ability to best service its customers in the region.
Accuride Corp. was purchased by the investment firm of Kohlberg, Kravis, and Roberts in 1998, and relocated its corporate headquarters to Evansville, Indiana, USA, in 1999.
On January 31, 2005, Accuride Corp. acquired Transportation Technologies Industries, Inc., or TTI, adding Bostrom Seating, Brillion Iron Works, Fabco Automotive Corporation, Gunite Corporation, and Imperial Group to our business portfolio.
Accuride Corporation has been listed on the New York Stock Exchange (NYSE) under the symbol “ACW” since January 2011.
Substantially all of the assets and business of Bostrom Seating were sold to a subsidiary of Commercial Vehicle Group, Inc. on January 31, 2011; while Fabco was sold to Fabco Holdings, Inc., a new company formed and capitalized by Wynnchurch Capital, Ltd. in partnership with Stone River Capital Partners, LLC, on September 26, 2011.Today, Accuride Corporation is one of the largest and most diversified manufacturers and suppliers of commercial vehicle components in North America.
Today, our products include steel and aluminum commercial vehicle wheels, wheel-end components and assemblies, truck body and chassis parts, and gray, ductile and austempered ductile iron castings; and are marketed under some of the most recognized business and brand names in the industry: Accuride Wheel End Solutions (Accuride Wheels and Gunite), and Gianetti Ruote.