Accuride announces up to $30M in annual aluminum wheel business Accuride announced that its "Fix and Grow" actions to restructure and upgrade core operations have improved operational performance and enabled the company to secure new long-term agreements for steel and aluminum wheels. Today, with its aluminum wheel manufacturing investments complete, Accuride saod has doubled its production capacity for forged aluminum wheels, while Gunite’s program to install advanced machining and assembly equipment, upgrade casting and consolidate its manufacturing footprint is 90 percent complete. Accuride also plans more than $30M in steel wheel facility upgrades during 2013-15 and will announce details of its 2013 capital program later this year. Accuride said it recently earned new long-term agreements with several customers representing more than 70% of its core wheel business. Accuride also secured new aluminum wheel business of up to $30M annually that it will serve using its newly-expanded aluminum capacity.
Accuride sees FY16 revenue $650M-$700M, consensus $667.88M Accuride expects 2016 net sales to be in the range of $650M to $700M, with Adjusted EBITDA in the range $65M million to $80M. The Company is basing these expectations for its 2016 guidance on the following projections for North American commercial vehicle production and other key assumptions for the year: