Accuride Corporation, a leading supplier of components to the global commercial vehicle industry, and CLN Group, a leading supplier of steel and metal-formed components and assemblies to the global automotive industry, announced that Accuride has acquired a majority stake in steel wheel manufacturer Gianetti Ruote S.r.l. from the MW Italia wheels division of CLN S.p.A. CLN, through MW Italia, retains a minority interest in the business with Accuride.
The partnership advances Accuride’s strategy to become a leading wheel supplier to the global commercial vehicle industry. Gianetti will retain its headquarters and principal manufacturing and engineering facility in Ceriano Laghetto near Milan, Italy. Accuride will invest approximately €20 million over the next three years to improve Gianetti’s manufacturing operations in exchange for its majority equity position. Accuride will continue Gianetti’s proud tradition of supplying advanced steel wheel products by strengthening its capable engineering resources and manufacturing assets. Gianetti supplies high-quality steel wheels that meet customers’ current and future vehicle program requirements.
One of Europe’s longest-standing, leading producers of commercial steel wheels, Gianetti Ruote S.r.l. originated in 1880 as a manufacturer of wheels for agricultural equipment. In the 1920s, it began producing wheels for automobiles and commercial trucks in addition to its agricultural offerings. The company initiated a globalization strategy in the 1930s, obtaining the license to produce steel truck rims from Firestone Steel Products, and cast-steel spoke wheels from Dayton Steel Foundry, both of the United States. Today, Gianetti supplies Europe’s leading manufacturers of commercial vehicle equipment – including trucks, buses and trailers – with steel wheels ranging from 16” to 24” in diameter.
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