Maxion Wheels is born – Hayes Lemmerz acquisition finalised
On 2 February Brazilian firm Iochpe-Maxion S.A. announced its acquisition of wheel manufacturer Hayes Lemmerz International, Inc has been finalised. The company has now established a new combined global wheel business, Maxion Wheels, which will be headed up by former Hayes Lemmerz chief operating officer Fred Bentley. In his new role of Maxion Wheels’ chief executive officer, Bentley will report directly to Dan Ioschpe, chief executive officer of Iochpe-Maxion. The business will have its headquarters in Northville, Michigan, USA.
“Iochpe-Maxion is excited to have finalized its transaction to acquire Hayes Lemmerz,” said Dan Iochpe. “The acquisition of Hayes Lemmerz furthers our strategy of growing our core global business and puts us in an excellent position to offer technologically-advanced products and outstanding services to all of our global customers and to meet their needs in every major geographic region for years to come.”
“Customers will benefit significantly from the transaction,” Ioschpe continued. “As automotive and commercial vehicle manufacturers continue to expand globally, they seek global suppliers who have the resources to invest and grow with them. This acquisition enables us to better meet our customers’ needs by offering a broader and more competitive product line and enhancing service levels.”
“In combining the skills and talents of these two world-class wheel manufacturers, we will be able to better serve the best interests of all our key stakeholders – our customers, our shareholders, our suppliers, and our committed employees all around the world,” added Maxion Wheels CEO Bentley. “We anticipate a smooth and successful integration. We see many exciting global opportunities, and we have an experienced and talented team ready to pursue them.”