Accuride Corp. announced that it has completed its acquisition of Mefro Wheels, after agreeing to the acquisition on June 19 of last year. Terms of the transaction were not disclosed. Headquartered in Solingen, Germany, Mefro Wheels supplies steel wheels to the European and Asian automotive, commercial vehicle and construction and agricultural equipment industries and operates eight manufacturing facilities in Europe and Asia. The closing transaction follows completion of the European merger-clearance process.
The business transitions to become part of Accuride’s Wheels Europe and Asia business unit under the leadership of its president, Scott Hazlett.
“Acquiring Mefro Wheels transforms Accuride into a worldwide industry leader, strongly positioned to supply wheel end system solutions to the global automotive and commercial vehicle industries,” Rick Dauch, Accuride’s president and chief executive officer, said. “Combining our two businesses is a game-changing move that extends Accuride’s geographic reach and resources, and significantly builds our capacity to serve global OEM customers. In addition to doubling our core wheel business, we gain immediate positions in the European automotive market and the global off-highway equipment segment, creating multiple paths to generate additional organic growth.”