Hayes Lemmerz sold to Brazilian firm
Brazil-based Iochpe-Maxion S.A. announced late Thursday it has finalized its acquisition of wheel manufacturer Hayes Lemmerz International.
According to a company press release, the acquisition will see Iochpe-Maxion and Hayes Lemmerz wheel manufacturing operations combined into the new Maxion Wheels, a global wheels business with 20 manufacturing locations in 12 countries.
“Iochpe-Maxion is excited to have finalized its transaction to acquire Hayes Lemmerz,” Dan Ioschpe, CEO of Iochpe-Maxion, said in the release. “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.”
Ioschpe went on to say that consumers stand to benefit from the move.
“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,” Ioschpe said.
Fred Bentley, former COO of Hayes Lemmerz, has been named CEO of Maxion Wheels and will report to Dan Ioschpe. Maxion Wheels will have its headquarters in Northville, Mich.
Local representatives declined to comment on the acquisition on Friday, and directed inquiries to the company’s Michigan headquarters. According to the Economic Development Sedalia-Pettis County website, the Sedalia operation, which opened in 1978, employs about 300 people who manufacture 8 million to 10 million steel wheels annually for General Motors, Ford, Chrysler and Nissan.
On Friday, company spokesman Eric Moraw declined to comment directly on whether the combining of the two companies would see positions combined or lost at the Sedalia plant, but did indicate the company is looking to expand as global automotive production moves back to pre-recession levels.
“The mode is really about growing and continued growth in the automotive segment and commercial segment we participate in,” Moraw said. “Sedalia is one of largest operations in the company. It is a significant operation so it is significant to Iochpe-Maxion as well.”
