, a seat supplier to the North American heavy truck, aftermarket, bus and specialty vehicle markets. Bostrom, a division of Accuride Corp., has one owned manufacturing facility in Piedmont, Ala., which employs approximately 135, and an engineering office in Wixom, Mich.
"This acquisition further expands our North American presence in certain key end markets and enhances our overall aftermarket position with the addition of the Bostrom Seating brand of products," said Mervin Dunn, president and CEO of Commercial Vehicle Group. "Bostrom's product offering and position in the commercial vehicle seating market, along with our existing operations and strong National and KAB Seating brands, make this a strategic opportunity for us."
Total cash consideration for the transaction was approximately $8.8 million.
Accuride acquired Bostrom in 2005. "While Bostrom is a solid company, the seating market is inconsistent with our focus on structural, drivetrain and wheel-end products for commercial vehicles," explained Bill Lasky, Accuride president and CEO. "The Bostrom Seating brand and the people who are transferring with it will be much better served with CVG's ownership and diversified product focus on cab systems and components."