Maxam Tire Latin America announced that it will acquire and control the full equity interest in the LatAm Joint Venture previously in place with Gustavo Lima and Marco Zigni, effective Oct. 31. Created in 2015, the Maxam Tire Latin America Joint Venture was structured to expand the equity of the Maxam Tire brand within the Latin America region and sought to help establish a new strategic partnership in the specialty tire business, the company said.

For many years, the company has enjoyed growth and success with a strong reputation for market-leading quality, reliability and delivered value as a true business solutions provider. As Maxam turns the page to a new chapter of business in the Latin America region, the Maxam Tire brand remains committed to supporting its valued customers of today and tomorrow, the company said.

As a major global specialty tire manufacturer and distributor, the foundation of Maxam Tire is centered around engineering and manufacturing in the specialty tire industry, Maxam said.