LAS VEGAS (Jan. 22, 2013) — Wheel maker Accuride Corp. plans to invest more than $30 million through 2015 to upgrade its manufacturing capacities, although it won't disclose specifics until later this year.
The commitment follows a two-year, $150 million "Fix and Grow" investment program Accurdie undertook in 2011 to restructure and expand its core wheel and wheel-end component operations and upgrade the capabilities of each of its four business units.
That program—which included $55 million for expanding aluminum wheel capacity—resulted in the doubling of the firm's production capacity for forged aluminum wheels and the consolidation of its Gunite cast components business.
The company said its actions resulted in "marked gains" in quality, delivery and lead-time performance, which it described as the metrics that matter most to customers.
Accuride also recently secured new long-term agreements with several key customers representing more than 70 percent of its core wheel business as well as new aluminum wheel business of up to $30 million annually.