Accuride Corp., a manufacturer of wheels for heavy/medium trucks and trailers, Monday announced announced it has agreed to acquire Transportation Technologies Industries Inc.
, a manufacturer of truck components for the heavy and medium-duty trucking industry. The common stock of both companies is privately held.
Upon completion of the merger, the combined company will offer the trucking industry a one-stop component sourcing solution.
Existing stockholders of Accuride will own 65% of the common stock of the combined entity while the existing stockholders of Transportation Technologies will own 35% of the common stock, with contingent stock which could allow them to receive an additional 3% of the common stock of the combined entity, based upon certain performance achievements. The transaction, which is subject to
customary closing conditions, is expected to be completed in January 2005.
Terry Keating, Accuride's current president and CEO, will serve as president and CEO of the combined company.
For more information, visit www.accuridecorp.com.


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