Iochpe-Maxion (B3: MYPK3), through its subsidiary Maxion Wheels, has announced a series of strategic initiatives to strengthen its light vehicle aluminum wheel business in South America. The plan includes the redeployment of existing global manufacturing assets to Brazil and the acquisition of a 50.1% stake in Polimetal, a leading aluminum wheel producer based in Argentina. These actions are aimed at meeting the rapidly rising demand for aluminum wheels in the region’s expanding passenger car market.
“Passenger vehicle sales across South America continue to grow, and our aluminum wheels business is gaining significant traction in Mercosur,” said Pieter Klinkers, President and CEO of Iochpe-Maxion. “To address this surge in demand, we’re implementing a three-pronged strategy. First, we’re leveraging our global network and local operations in Brazil to meet immediate market requirements. Second, we are redeploying key assets to our two Brazilian plants in Santo André and Limeira to increase production capacity. And third, we are forming a strategic partnership in Argentina through our new majority investment in Polimetal, a long-standing and trusted aluminum wheel supplier to major OEMs in the region.”
The Polimetal transaction, completed today, will be submitted to the Argentinean competition authority for approval in accordance with local regulations. Once finalized, this partnership is expected to significantly enhance Maxion Wheels’ presence in Argentina’s automotive manufacturing sector and strengthen supply capabilities for both domestic and export markets.
Mr Klinkers added, “These strategic actions reinforce our long-term commitment to South America. By expanding our operational footprint and production efficiency, Maxion Wheels will continue to deliver the quality, capacity, and service levels our customers expect to meet both current and future mobility demands.”
Iochpe-Maxion is a global leader in automotive wheel manufacturing and a major producer of structural components for the commercial vehicle and passenger car segments across the Americas. Operating 33 manufacturing facilities in 14 countries and employing approximately 17,000 people, the company serves global OEMs with a strong focus on innovation, efficiency, and sustainability.
Through its two core divisions—Maxion Wheels and Maxion Structural Components—the company produces steel and aluminum wheels for passenger and commercial vehicles, as well as side rails, crossmembers, chassis assemblies, and structural systems for a wide range of automotive applications.
