Commercial vehicle component supplier Accuride Corp. will invest $75 million this year to increase output, quality and reliability; upgrade its manufacturing processes and improve customer service.
Accuride’s CEO Rick Dauch said Tuesday that $20 million of the company’s investment this year will go to boosting its aluminum wheel output, on top of $35 million invested in 2011.
“Accuride is aggressively expanding its production capacity as aluminum wheel demand continues to grow in North America,” the company said in a statement.
The parts maker will install new machining lines and equipment, facility improvements and transfer of equipment among its three aluminum wheel plants in Erie, Pa.; Camden, S.C.; and Monterrey, Mexico.
Once completed, the investments will double the company’s aluminum wheel production capacity at its Monterrey and Camden plants, Evansville, Ind.-based Accuride said.
“This will bring sufficient aluminum capacity online this year to meet the peak industry cycle demand expected in 2013-2014,” the statement said.
Accuride’s products include commercial vehicle aluminum and steel wheels, brake drum components and assemblies, truck body and chassis parts, and other commercial vehicle parts.
The company said it will release details of the additional $55 million of investment later this quarter.
