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Aleksandr Matveev | Dreamstime
Thiti Tangjitsangiem | Dreamstime
'Availability of new foundry sand is already becoming a challenge, along with the need of providing new solutions to waste management,” according to the director of a metallurgical research center.
'Availability of new foundry sand is already becoming a challenge, along with the need of providing new solutions to waste management,” according to the director of a metallurgical research center.
'Availability of new foundry sand is already becoming a challenge, along with the need of providing new solutions to waste management,” according to the director of a metallurgical research center.
'Availability of new foundry sand is already becoming a challenge, along with the need of providing new solutions to waste management,” according to the director of a metallurgical research center.
'Availability of new foundry sand is already becoming a challenge, along with the need of providing new solutions to waste management,” according to the director of a metallurgical research center.
Branimir Ritonja | Dreamstime
Automotive cast parts.
Automotive cast parts.
Automotive cast parts.
Automotive cast parts.
Automotive cast parts.
Seesea | Dreamstime
Fire photo
Fire photo
Fire photo
Fire photo
Fire photo
Jacek Sopotnicki | Dreamstime
With deoxidized base iron, carbon levels can be increased to 3.30% C and alloying can be completely or nearly eliminated at the same time.
With deoxidized base iron, carbon levels can be increased to 3.30% C and alloying can be completely or nearly eliminated at the same time.
With deoxidized base iron, carbon levels can be increased to 3.30% C and alloying can be completely or nearly eliminated at the same time.
With deoxidized base iron, carbon levels can be increased to 3.30% C and alloying can be completely or nearly eliminated at the same time.
With deoxidized base iron, carbon levels can be increased to 3.30% C and alloying can be completely or nearly eliminated at the same time.
Simone Neuhold / RHI Magnesita
Many refractory products are custom-developed and manufactured for particular applications, and also usually contaminated with material they have absorbed while lining furnaces or ladles, which makes the recycling process a challenge.
Many refractory products are custom-developed and manufactured for particular applications, and also usually contaminated with material they have absorbed while lining furnaces or ladles, which makes the recycling process a challenge.
Many refractory products are custom-developed and manufactured for particular applications, and also usually contaminated with material they have absorbed while lining furnaces or ladles, which makes the recycling process a challenge.
Many refractory products are custom-developed and manufactured for particular applications, and also usually contaminated with material they have absorbed while lining furnaces or ladles, which makes the recycling process a challenge.
Many refractory products are custom-developed and manufactured for particular applications, and also usually contaminated with material they have absorbed while lining furnaces or ladles, which makes the recycling process a challenge.
Foundrymag 2293 Accuridealumwheel Promo 0
Foundrymag 2293 Accuridealumwheel Promo 0
Foundrymag 2293 Accuridealumwheel Promo 0
Foundrymag 2293 Accuridealumwheel Promo 0
Foundrymag 2293 Accuridealumwheel Promo 0

Accuride Accepts Private Buyout, Sells Brillion to MPG

Sept. 5, 2016
Proposed sale would bring premium return to shareholders, final sale clarifies CV wheels portfolio Crestview offer estimated at $424 million Standalone business, execs remain MPG’s bolt-on transaction for $14 million
Accuride produces steel and aluminum wheels and wheel-end products, and emphasized its organizational vision is to be “the premier supplier of wheel-end system solutions to the global commercial vehicle industry.”

Accuride Corporation agreed to be acquired for $2.58/share in cash by Crestview Partners, a New York-based private equity firm.  The transaction has an estimated value of $424 million at that price, which the company noted is as 55% above the September 1 closing price for Accuride stock. The deal would convert the manufacturer of steel and aluminum commercial vehicle wheels and wheel-end components into a private holding, but Accuride emphasized that other changes would be minimal.

Metaldyne Performance Group picks up Accuride’s Brillion Iron Works operation, which supplies gray and ductile iron castings to manufacturers of light and commercial vehicle, agricultural, construction and mining equipment, and other industrial markets

“After the transaction closes, Accuride will operate as a stand-alone business within Crestview’s portfolio of companies,” according to president and CEO Rick Dauch, who will remain in his position, together with the rest of the current executive team. “Accuride will serve as a platform for further growth and consolidation in the global wheels and wheel-end sectors as we expand to serve our customers’ needs worldwide.”

Accuride’s directors unanimously approved the Crestview transaction and recommended that Accuride’s shareholders approve a merger agreement to complete the deal. While there are customary time periods to be observed and conditions still to be met, Accuride expects the deal to close in Q4 2016.

Dauch expressed confidence that Accuride would receive Crestview’s resources and support toward becoming a global supplier of wheel end products to commercial vehicle customers.

At the same time, Accuride reported it sold its Brillion Iron Works holding, in Brillion, WI, to Metaldyne Performance Group (MPG) for $14 million in cash. This sale is immediately effective.

Selling Brillion refines the Accuride group’s product offerings in the commercial vehicle wheel business, and places Brillion within a portfolio of automotive and commercial vehicle engine, transmission, driveline, and suspension parts.

Brillion’s products are gray iron and ductile iron castings, produced in a range thin-walled to complex heavy-sectioned parts for manufacturers of light and commercial vehicle, agricultural, construction and mining equipment, and other industrial markets.

MPG was formed in 2014 by a private-equity group, American Securities LLC, which established a single holding company for two forging organizations (Metaldyne, HHI) and a large automotive foundry group (Grede Holdings.) Each of those entities also included a number of legacy brands. Its products are gray, ductile and austempered ductile iron castings, forgings, and finish machined parts for automotive, commercial vehicle, and industrial markets.

In August, MPG consolidated all its brands under a single label, which are organized according to process and market focus (e.g., MPG Casting Technologies, MPG Forming Technologies, etc.) According to the buyer, Brillion complements MPG's casting business and capacity. "MPG has completed 10 acquisitions over the past decade and we have successfully integrated all of them," stated George Thanopoulos, CEO. "Our customers are very supportive of this bolt-on transaction given our successful history of acquisitions and the current depressed state of the industrial and heavy truck markets."