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2011 - A Year of Transformation
Ø Upgraded, Co-located & Focused Senior Leadership Team
• New President & CEO
• 70% of Senior Leadership team replaced or reassigned
• Revised compensation plan for 2012 - ROA and FCF
Ø Revised Strategic Plan Developed & Implementation Initiated:
• New Vision, Mission, Values
• “Fix & Grow” Strategy Developed
• International Expansion delayed 12-18 months
Ø “Core” vs. “Non-Core” Focus Established:
• Fix & Grow: Accuride Wheels, Gunite
• Divested: Bostrom Seating, Fabco
• TBD: Imperial, Brillion Iron Works
Ø Commitment to Restore Operating Excellence & Technological Leadership:
• Rebuilt “Core” skills & team: MFG, Product Engineering, Quality, Supply Chain
• Two-year CAPEX plan (2011-12) to update manufacturing capability & expand/rationalize capacity:
• $55M investment in Accuride Wheels business
• $55M investment in Gunite Wheel-end business
• Three-year Product Portfolio plans developed to ensure industry benchmark technology
Ø Re-established Commercial Discipline:
• Gunite price increases in both OEM and Aftermarket Segments
• Brillion Iron Works price increases
• Successfully pursuing anti-dumping campaign for Steel Wheels
