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Accuride Corporation Acquires Forgitron Technologies LLC

^{Published on 2011-06-20 14:05:37 - Market Wire}
 

EVANSVILLE, Ind.--([ BUSINESS WIRE ])--Accuride Corporation (NYSE: ACW) today announced that it has acquired substantially all of the assets of Forgitron Technologies LLC, a portfolio company of Kamylon Capital. These assets include an 80,000-square-foot forged aluminum wheel manufacturing facility located in Camden, South Carolina. Accuride plans to convert the production of the facility to Accuride-branded aluminum wheels for the commercial vehicle market.

"This acquisition strengthens our core product offering by increasing our aluminum wheel capacity, giving us a close-to-customer production presence in the Southeast, and affording greater flexibility to balance production between three aluminum wheel plants"

aThis acquisition strengthens our core product offering by increasing our aluminum wheel capacity, giving us a close-to-customer production presence in the Southeast, and affording greater flexibility to balance production between three aluminum wheel plants,a stated Rick Dauch, Accuridea™s President and CEO. aThese significant benefits underscore our commitment to maximize production efficiency and offer high-value quality products to our customers, while generating stronger financial returns for our shareholders.a

The addition of the Camden, South Carolina, facility will augment Accuridea™s projects already underway to increase aluminum wheel capacity in its Erie, Pennsylvania, facility and introduce aluminum wheel production in its Monterrey, Mexico, facility. Accuride plans to cease production in Camden for approximately 30 days to convert production to the Accuride brand, and to integrate with existing Accuride manufacturing systems and controls, as well as customer order management and sales programs.

aWe look forward to working with the Camden team members as we begin the integration process,a Dauch continued.

Accuride Corporation is one of the largest and most diversified manufacturers and suppliers of commercial vehicle components in North America. Accuridea™s products include commercial vehicle wheels, wheel-end components and assemblies, truck body and chassis parts and other commercial vehicle components. Accuridea™s products are marketed under its brand names, which include Accuride^®, Gunite^®, Imperial^TM, Fabco^®,Brillion^TM and Highway Original^®. For more information, visit Accuridea™s website at [ http://www.accuridecorp.com ].

Forward-looking statements

Statements contained in this news release that are not purely historical are forward-looking statements within the meaning of Section27A of the Securities Act of 1933, as amended, and Section21E of the Securities Exchange Act of 1934, as amended, including statements regarding Accuridea™s expectations, hopes, beliefs and intentions with respect to future results.Such statements are subject to the impact on Accuridea™s business and prospects generally of, among other factors, market demand in the commercial vehicle industry, general economic, business and financing conditions, labor relations, governmental action, competitor pricing activity, expense volatility and other risks detailed from time to time in Accuridea™s Securities and Exchange Commission filings, including those described in Item 1A of Accuridea™s Annual Report on Form10-K for the fiscal year ended December31, 2010. Any forward-looking statement reflects only Accuridea™s belief at the time the statement is made. Although Accuride believes that the expectations reflected in these forward-looking statements are reasonable, it cannot guarantee its future results, levels of activity, performance or achievements.Except as required by law, Accuride undertakes no obligation to update any forward-looking statements to reflect events or developments after the date of this news release.