On Feb. 2, Brazilian firm Iochpe-Maxion S.A. finalized its acquisition of wheel manufacturer Hayes Lemmerz International.
The company has now established a new combined global wheel business, Maxion Wheels, which will be headed up by former Hayes Lemmerz COO Fred Bentley. In his new role of Maxion Wheels’ CEO, Bentley will report directly to Dan Iochpe, CEO of Iochpe-Maxion. The business will have its headquarters in Northville, Mich.
"Iochpe-Maxion is excited to have finalized its transaction to acquire Hayes Lemmerz," said 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."
"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 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." (Tyres & Accessories)
