Wheel maker Accuride to invest $5.8M in Ky.

HENDERSON, Ky. (June 25, 2013) — Accuride Corp., a supplier of components to the North American commercial vehicle industry, is investing $5.8 million to expand the steel wheel powder coating capacity at its Henderson plant.

With the installation of a state-of-the-art coating line at its steel wheel production facility in Henderson, Accuride said the paint technology upgrade will stabilize employment at the plant, which is now at 160, and likely will eventually add 30 jobs there.

In making the announcement, Kentucky Gov. Steve Beshear said Accuride "has been a part of the Commonwealth for nearly four decades, and that commitment and tradition is even stronger now, thanks to this expansion."

Accuride's Henderson facility was established in 1974 as part of what was then Firestone Steel Products, the forerunner of Accuride Corp. The 364,000-sq.-ft. manufacturing center is on 118 acres in Henderson.

The company's customer base includes heavy-duty commercial truck and trailer original equipment manufacturers, commercial vehicle fleets and distributors in the commercial vehicle aftermarket. Its Henderson facility also is home to Accuride's wheel research and development center as well as the company's wheel product development and testing facilities.

"Our commitment to install an advanced-technology coating line at our Henderson plant will strengthen our ability to supply industry-leading steel wheel products to the North American commercial vehicle market," said Rick Dauch, Accuride president and CEO. "Henderson's range of steel wheels provides customers with several options to reduce vehicle weight, boost fuel economy, fight corrosion and achieve long-life performance. Thanks to its new paint line, Henderson will stand alone in the industry in its ability to formulate customized coating solutions and deliver them via its advanced new coatings process."

To encourage investment and job growth in Henderson, the Kentucky Economic Development Finance Authority preliminarily approved Accuride for tax incentives up to $600,000 through the Kentucky Business Investment program. The performance-based incentive allows a company to keep a portion of its investment over the term of the agreement through corporate income tax credits and wage assessments by meeting job and investment targets.