Accuride has completed the sale of its Imperial Group truck body and chassis business, which will continue to operate independently.
The organization was sold for US$30 million, and will allow Accuride to focus on its core business and improve its liquidity, the company announced.
Imperial Group fabricates truck body and chassis components for medium- and heavy-duty trucks and buses. It had net sales of US$135.1 million in 2012.
“Completing the sale of Imperial Group to Wynnchurch demonstrates Accuride’s resolve to maximize the company’s strategic focus, value and financial strength,” said Rick Dauch, Accuride president and CEO. “A win-win for all parties involved, this transaction continues Accuride’s divestiture of non-core businesses and enables management to devote greater focus on strengthening the profitability of our core wheel end systems businesses. The proceeds from the sale will improve the Company’s liquidity and help fund future growth initiatives.”
