Maxion Wheels Announces Next Investments in Commercial Vehicle Wheel Portfolio
Maxion Wheels, the world’s largest wheel manufacturer, announced today that its newest truck steel wheels plant with partner Inci Holding, is ready to open in Turkey. The two companies will also build a plant to offer forged aluminum Commercial Vehicle (CV) wheels beginning in 2024. The combined investments are in excess of $150 million USD from 2021 through 2025, over the next few years, and further enhance Maxion Wheels’ existing globally leading steel wheel portfolio, while extending its reach to commercial vehicle applications where aluminum is the preferred solution.
“Our recent commercial vehicle steel wheels expansions to serve customers in Europe and in Brazil will increase our annual global steel truck wheels installed capacity by about 25%, from eight to ten million. Today, we also take the next step in our CV growth strategy by adding forged aluminum to our truck wheels portfolio,” said Pieter Klinkers, CEO of Maxion Wheels. “We will install a new, state-of-the-art, CO2-optimized forged aluminum facility to answer the needs of customers who seek multiple wheel solutions to optimize their transportation solutions.”
Mustafa Zaim, President of the Board of Maxion Inci and Maxion Jantas, added, “Serving the truck wheel market is our passion, and we have been doing so for more than 50 years. For Inci Holding to join forces, again, with Maxion Wheels is both an honor and a testament to the power of our collaboration. Our truck and trailer customers will benefit from our existing strengths, now getting the full breadth of wheel knowledge, skills and products they need from one trusted source.”
Maxion Wheels’ steel wheels expansion includes the recent capacity addition of more than 500,000 commercial vehicle wheels in Brazil, as well as, the above mentioned 1.5 million new truck wheels capacity in Turkey. Construction of the new 45,000-square-meter forged aluminum wheels facility will begin this year, with a planned start of production for late 2024. Initial installed capacity is 350,000 forged aluminum wheels annually, with the ability to scale to twice that amount in the years after.
ABOUT INCI HOLDING
Inci Holding is a family-owned conglomerate of nine different companies with 3,000 employees based in Izmir, Turkey, and also the leading producer of automotive wheels and batteries located in Manisa. Regularly recognized as an industry leader of service, technology and sustainability, the company exports 60 percent of its production to more than 100 countries, earning it a top ranking by TİM, the Turkish Exporters Assembly. Through its joint ventures, Maxion Inci and Maxion Jantas, the company has an installed annual capacity of more than 12 million wheels with annual sales of approximately 350€ million in the Manisa Organized Industrial Park. To learn more, please visit İnci Holding’s website at www.inciholding.com.
ABOUT MAXION WHEELS
Maxion Wheels, a division of Iochpe-Maxion S.A., is the world’s leading steel and aluminum wheel supplier. Our low-carbon expertise and energy-efficient designs help cars, buses, trucks and trailers achieve real-world carbon footprint reductions. Our diverse global teams and inclusive culture powers every advance we make.
Maxion Wheels works with global vehicle manufacturers on wheels for personal mobility, transportation, agriculture, defense and off-highway applications. Our 10,000 employees operate out of 30 locations in 14 countries on five continents, including state-of-the-art technical centers in the Americas, Europe, and Asia. Together we produce more than 50 million wheels a year, making us the world’s largest producer and supplier of wheels. To learn more, please visit Maxion Wheels’ website at www.maxionwheels.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
IEEE Announces Decision on Its Standards-related Patent Policy30.9.2022 18:31:00 CEST | Press release
The IEEE Standards Association Board of Governors (IEEE SA BOG) took action to update the Patent Policy for IEEE standards development, which will go into effect 01 January 2023. These updates are intended to improve the clarity of IEEE’s standards processes related to patented technologies, while offering more options for stakeholders. In accordance with IEEE SA’s policies and procedures, the following resolutions were approved by consensus without objections by the full IEEE SA BOG. The IEEE SA BOG approved proposed updates to the IEEE SA Standards Board Bylaws, effective 01 January 2023. The IEEE SA BOG approved proposed updates to the IEEE SA Letter of Assurance (LOA) form, effective 01 January 2023. The IEEE SA BOG approved proposed updates to the patent policy FAQs, effective 01 January 2023. For the same IEEE standard, in instances where there is one Submitter of an Accepted LOA under the 2015 policy and another Submitter of an Accepted LOA under a subsequent policy or using the
Calling All Sake Aficionados! October 1st Is "Sake Day." Let's Kampai Together!! (Kampai Means "Toast" in Japanese)30.9.2022 16:00:00 CEST | Press release
There are countless events around the world celebrating the delights of wine and beer; October 1st is known as "Sake Day," where sake lovers worldwide gather, enjoy, and appreciate this delicious beverage. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220929005349/en/ toast (Photo: Business Wire) Sake Day was set as October 1st by the Japan Sake and Shochu Makers Association (JSS), the largest sake industry organization in Japan with members consisting of some 1,700 producers of sake, Honkaku Shochu, Awamori, and Hon-Mirin. This date was selected because October 1st marked the beginning of the new brewing season using freshly harvested rice crops. Events celebrating sake have been planned worldwide for Sake Day on October 1st. In Japan, the "Kampai! with Sake Week" event will run for ten days around Sake Day on October 1st, where JSS, prefectural sake organizations, breweries, restaurants, liquor stores, and sake lovers wil
Alkegen Launching Trio of New High Efficiency Filtration Products for Air, Liquid and Molecular Applications30.9.2022 14:30:00 CEST | Press release
Alkegen, a leading specialty materials platform that provides high performance materials used in advanced applications, announced they will be launching three new High Efficiency Filtration (HEF) products during their exhibition at the upcoming World Filtration Congress in San Diego, CA. These are the first new filtration products launched under the Alkegen brand name since the merger of Lydall and Unifrax last October. “This trio of HEF media – one for air, one for liquid, one for molecular applications – represents the first wave of advanced materials developed and released under our new Alkegen filtration product development team. These launches combine Lydall’s well-known filtration and manufacturing expertise with Unifrax’s proven, rapid innovation capabilities,” said Paul Vallis, President of the Filtration & Catalysis Group. “This is the first of many innovations we expect to deliver as our portfolio evolves to meet the continuous demand for ever-higher efficiency and reduced en
Nexign’s Article Included in TM Forum’s Benchmark Report30.9.2022 13:12:00 CEST | Press release
Nexign, a leading provider of BSS and digitalization solutions, announces that its article has been included in TM Forum’s benchmark report “Telco Revenue Growth: Taking It to the Next Level”. The report investigates the primary sectors and services affecting communications service providers (CSPs) and the areas of growth and decline. It draws on research collected from 33 of the world’s largest operators and serves as a source of valuable information about factors influencing successful telco-to-techco transformation. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220930005236/en/ Nexign’s Article Included in TM Forum’s Benchmark Report (Photo: Business Wire) Nexign’s article “Harnessing Traditional and New Revenue Streams on Track to Maturity: Harmonization of the BSS Core” discusses key challenges faced by modern CSPs while shifting beyond traditional communications and exploring vertical markets. The authors state that o
The Estée Lauder Companies Launches 2022 Breast Cancer Campaign to Honor 30 th Anniversary and Positively Impact the Global Breast Cancer Community30.9.2022 12:45:00 CEST | Press release
In the 30 years since Evelyn H. Lauder launched The Estée Lauder Companies’ Breast Cancer Campaign (The Campaign) and co-created the Pink Ribbon in 1992, The Campaign’s mission to help create a breast cancer-free world for all has remained steadfast. The Estée Lauder Companies (ELC) has a long-standing commitment to helping women and girls achieve their highest potential. As ELC’s largest corporate social impact program, The Campaign is a cornerstone of ELC’s social investments in women’s advancement and health, uniting people everywhere to positively impact the global breast cancer community. As breast cancer is the most commonly diagnosed cancer in the world,1 ELC's continued commitment to improving the lives of all those touched by the disease remains unwavering. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220930005040/en/ The Estée Lauder Companies Launches 2022 Breast Cancer Campaign (Graphic: Business Wire) Together
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom