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Accuride Corporation

American vehicle component manufacturer

Summary

American vehicle component manufacturer

Field	Value
name	Accuride Corporation
logo	Accuride.png
type	Private
foundation	1986
location	Livonia, Michigan, United States
key_people	Robin Kendrick, President & CEO
homepage	www.accuridecorp.com

:Accuride International (California), an unrelated company, is a manufacturer of drawer slides. Accuride Corporation is a diversified manufacturer and supplier of commercial vehicle components in North America. Based in Livonia, Michigan, the company designs, manufactures and markets commercial vehicle components.

Accuride's brands are Accuride Wheels, Gunite Wheel End Components, and KIC Wheel End Components. Its products include commercial vehicle wheels, wheel-end components and assemblies.

History

Bain Capital founding

Accuride was founded in 1986 in order to acquire the wheel-making division of Firestone Tire & Rubber Company.{{cite web |archive-url = https://archive.today/20130201203900/http://uk.reuters.com/article/idUKBNG43969220091118 |url-status = dead |archive-date = 1 February 2013 |access-date = 24 November 2009

Recession and bankruptcy

The Great Recession undermined the global demand for commercial vehicles and freight components, drastically damaging Accuride's profitability. In October 2009, the company sought legal protection from its creditors under Chapter 11 bankruptcy rules, and in November 2009 sought court approval to reorganize itself. On 26 February 2010, Accuride emerged from Chapter 11 bankruptcy with a new capital structure.

Acquisition by Crestview Partners

In 2016 Accuride was acquired by Crestview Partners, a New York–based private equity firm for $2.58 per share in cash. As part of the transaction, Accuride announced it sold its Brillion Iron Works subsidiary to Metaldyne Performance Group (MPG) for a total of $14 million.

In October 2024, Accuride again filed for Chapter 11 bankruptcy after it fell victim to a freight industry recession. The company listed liabilities between $500 million to $1 billion.

Business

The company produces commercial vehicle wheels, wheel-end components and assemblies, and other commercial vehicle components. Accuride markets its products using three brand names: Accuride, Gunite, and KIC.

References

Wyler, Grace. (14 December 2011). "This Is How Mitt Romney Actually Made All His Money". Business Insider.
Kranish, Michael and Scott Helman. (2012). "The Real Romney". HarperCollins.
Kranish, Michael and Scott Helman. (February 2012). "The Meaning of Mitt". Vanity Fair.
Stinnett, Chuck. (11 August 2009). "Accuride says bankruptcy is possible". Courier & Press.
"Accuride Now Out of Bankruptcy". Inside Indiana Business.
(15 September 2016). "Crestview Partners acquires Accuride". Endeavor Business Media.
(October 9, 2024). "US Truck Parts Maker Accuride Files for Chapter 11 Bankruptcy".
"Accuride Corporation". Accuride.
(26 April 2017). "Accuride Reaches Agreement To Acquire KIC". Babcox Media.

Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

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