INDUSTRY news
Carlyle Group Sells Diversifi ed Machine to Platinum Equity Asset manager T e Carlyle Group,
New York, sold Diversifi ed Machine Inc. (DMI), Wixom, Mich., to another equity fi rm last December. According to a Carlyle press
release, Platinum Equity, Los Angeles, purchased the automotive chassis and powertrain component supplier for an undisclosed amount. Carlyle initiated the investment in DMI with the November 2005 bankruptcy court purchase of an automotive component machining and
Accuride to Invest in Casting Capacity in 2012
Accuride Corp., Evansville, Ind., expects to spend about $75 million in 2012 to increase aluminum wheel production capacity and update Gunite Corp., a ferrous casting facility serving the trucking industry. According to Accuride President and CEO Rick Dauch, the 2012 expenditures will build on the company’s $35 million investment in 2011. T e fi rst phase targets new machining lines and related equipment in the wheels business and is already underway. A second phase encompasses the improvements at Gunite. “We made solid progress in boosting our production capacity last year and are stepping up our investments to extend and accelerate that progress throughout 2012,” Dauch said. Accuride, which supplies the
commercial vehicle industry, plans $20 million of aluminum wheel capacity investments in 2012 that will include facility improvements, new machining lines and equipment, and transfer of equipment among its three wheel plants in Erie, Pa., Camden, S.C., and Monterrey, Mexico. T e investments are expected to double aluminum wheel capacity in Monterrey and Camden. T e purchases at Gunite are intended to boost its capacity and throughput and improve product quality. T e Gunite wheel-end business unit produces spoke wheels, hubs, rotors, full cast brake drums and automatic slack adjusters.
Mar/Apr 2012 | METAL CASTING DESIGN & PURCHASING | 9
manufacturing operation. Carlyle was joined in the purchase by a management team led by Bruce Swift, who is expected to continue as CEO of DMI following the purchase by Platinum. During Carlyle’s ownership, DMI
grew through a series of acquisitions, including the purchase of a former Intermet operation. Today, the company operates metalcasting facilities in Bristol, Ind.; Howell, Montague and Wixom, Mich.; and Milwaukee.
“T is sale represents the culmination
of a productive long-term partnership,” said Michael Stewart, a managing director of Carlyle. “Together, we took a niche domestic automotive company out of
bankruptcy...to create a competitive global company.” Swift thanked Carlyle for its
support in the group’s statement. “Carlyle has been a great partner
over the past six years as we have built DMI,” he said.
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