Terry Keating faced a crossroads at Accuride Corp. in 2004. He challenged the executive leadership team to blaze a new trail of growth.
The best method to achieve that growth would be to move Accuride from a leader in the commercial wheel industry to a leader in the overall commercial vehicle industry. As a result, the company acquired Transportation Technologies Industries Inc. With this single acquisition, Accuride’s work force grew from 1,800 to 4,700, and its product offering grew from one brand name to six, all with leading market positions.
The acquisition transformed the company into the leading stand-alone supplier of commercial vehicle components and has provided it with a solid platform for future growth.
Under Keating’s leadership, the company has made an initial public offering of its common stock. It has also improved key metrics like safety, quality, equipment uptime and delivery performance. Today, even with an impending industry downturn, the company’s stock trades at a 50 percent premium from the initial public offering price.
Through it all, his strategy’s foundation has remained virtually the same: Tie your key metrics to your business plan, execute the plan in accordance to your metrics and focus all levels of the organization on the metrics. If you operate in this manner, he says you will never have to wait until the 15th of the following month to understand your financials.
Keating says increased shareholder value is realized when a company is focused on growth, operational excellence, making the numbers and customer satisfaction.
HOW TO REACH: Accuride Corp., (812) 962-5000 or www.accuridecorp.com