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Accuride Corporation's continued
road to global leadership began in 1905 when Firestone Steel Products
was established as the first "spinoff" of the Firestone Tire and Rubber
Company.
A major milestone was reached in 1968 with the addition of the steel
rim and wheel plant at London, Ontario, Canada, the facility now
known as Accuride Canada. Another steel rim and wheel plant was
established in Henderson, Kentucky, in 1974. In 1986, Firestone
sold the business which was purchased two years later by Phelps
Dodge Corporation. In 1998, Phelps Dodge Corporation sold
Accuride to the investment firm of Kohlberg, Kravis, and Roberts.
Throughout
its history, to ensure that customers receive precisely what they
want, Accuride has been willing to expand and create new ventures.
For example, in 1992, Accuride established Assemblies on Time (AOT)
as a joint venture with Goodyear Tire and Rubber Company. AOT was
created 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, in 1997 Accuride entered into an partnership with
Kaiser Aluminum and Chemical Corporation. 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.
In efforts to increase its global presence and further meet customer
needs, Accuride partnered with Industria Automotriz S.A. (IaSa) of
Monterrey, Mexico, in 1997 to create the joint venture Accuride de
Mexico. In 1999, to best service the emerging South American market,
Accuride purchased IaSa's share of AdM. Not only did this partnership
open the doors to the emerging South American market, it also afforded
Accuride the ability to best service its customers located within
the region.
To increase strategic opportunities and to grow the business, Accuride
acquired Transportation Technologies Industries, Inc. on Jan. 31, 2005.
Following on April 26, 2005, Accuride's stock began trading on the New
York Stock Exchange under the symbol "ACW".
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