Accuride Corporation - History

 

 

 



 

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.

In November 2008, Accuride began trading on OTC Bulletin Board ("OTCBB") under the symbol "AURD".

March 2010, Accuride Corporation began trading on OTC Bulletin Board ("OTCBB") under the symbol "ACUZ".


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