Accuride Acquires Transportation Technologies

Accuride Corporation has announced that it has completed the acquisition of Transportation Technologies Industries, Inc. (TTI). Accuride, already one of North America’s largest heavy and medium truck wheel suppliers, aims to become the trucking industry’s main one-stop component sourcing solution. Terry Keating, Accuride’s current president and chief executive officer, will continue to serve as president and CEO of the combined company.

Accuride also announced the completion of the amendment and restatement of its senior secured bank credit agreement. As part of the amendment, the company refinanced substantially all of its existing bank facilities. Citigroup Global Markets Inc. and Lehman Brothers Inc. jointly arranged for the new five-year $125 million revolving credit facility and the new seven-year $550 million term loan facility.