Accuride Corp, a supplier of components to the North American and European commercial vehicle industries has sold its Brillion Iron Works subsidiary to a subsidiary of Metaldyne Performance Group Inc, a provider of highly-engineered components for use in powertrain and suspension applications for the global light, commercial and industrial vehicle markets.
Under the purchase agreement, MPG has acquired from Accuride all of the stock of Brillion Iron Works Inc, a Delaware corporation, for total cash consideration of $14 million. Located in Brillion WI, the company specializes in the casting design and production of gray, ductile and austempered ductile iron castings for a range of industries, including light vehicle, commercial vehicle, agricultural, construction, oil & gas, and mining equipment, among others.
“This action will enable Accuride to focus completely on our strategic vision to be the premier supplier of wheel-end system solutions to the global commercial vehicle industry,” Accuride President and CEO Rick Dauch said.