Accuride acquires majority stake in Gianetti Ruote

Evansville, Ind.-based Accuride Corp., a supplier of components to the global commercial vehicle industry, has acquired a majority stake in steel wheel manufacturer Gianetti Ruote S.r.l. from CLN S.p.A.’s MW Italia wheels division.

CLN, through MW Italia, retains a minority interest in the business, which retains its headquarters and principal manufacturing and engineering facility in Ceriano Laghetto, Italy.

The partnership gives Accuride immediate long-term supply contracts with global OEM customers in Europe. Accuride has agreed to invest about $30 million over the next 36 months to improve Gianetti’s manufacturing operations in exchange for its majority equity position.