Iochpe-Maxion (B3: MYPK3), a global manufacturer of automotive wheels and structural components, through its subsidiary Maxion Wheels, has announced a series of strategic steps to strengthen its light vehicle aluminium wheel business in South America. The company plans to redeploy existing global production assets to Brazil and has acquired a 50.1 per cent stake in Polimetal, a major aluminium wheel manufacturer in Argentina.
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These actions are part of Maxion Wheels’ strategy to serve the growing demand for aluminium wheels as passenger car sales continue to rise across the region.
Maxion’s key strategic actions to accommodate demand
To meet increasing market needs, Maxion Wheels is rolling out a three-part strategy. The company is leveraging global resources and local expertise in Brazil to support rising demand for light-vehicle aluminium wheels, while also relocating production assets from other regions to boost output at its Limeira and Santo André plants. In addition, Maxion has strengthened its footprint in Argentina through the majority acquisition of Polimetal, a respected supplier to leading automakers. Although the Polimetal deal has been completed, it now awaits clearance from Argentina’s competition authority in line with local regulations.
Maxion is all set to strengthen its position in the regional premises
With the new investment, Maxion Wheels sets out to increase production capacity and improve customer service. It will also empower them to deliver top-notch products across South America. The company expects the changes to help both short-term market needs and long-term growth in the region’s vehicle industry.
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Iochpe-Maxion is a global leader in the manufacturing of automotive wheels and one of the largest producers of structural components in the Americas. The company operates 33 facilities in 14 countries and employs around 17,000 people worldwide.
Its main divisions are Maxion Wheels and Maxion Structural Components. Maxion Wheels produces wheels for passenger cars, commercial vehicles, trailers, and agricultural equipment. Maxion Structural Components manufactures chassis parts, side rails and structural assemblies for passenger and commercial vehicles.
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