Iochpe-Maxion has acquired a 50.1% stake in Polimetal to expand its light vehicle aluminum wheels business in Argentina, aiming to meet the growing demand in South America.

Target Information

Iochpe-Maxion, through its wheels division Maxion Wheels, has announced a strategic expansion focused on the increasing demand for light vehicle aluminum wheels in South America. The company is enhancing its local operations through the acquisition of a 50.1% stake in Polimetal, a prominent producer of aluminum wheels in Argentina. This move is part of a broader initiative to bolster capacity and service levels amidst rising passenger car sales in the region.

Pieter Klinkers, President and CEO of Iochpe-Maxion, highlighted the growth trajectory of the passenger car market across South America. He emphasized that Maxion’s wheels business, particularly in the light vehicle segment, has been gaining market share within Mercosur, positioning the company to efficiently meet the increasing demand for aluminum wheels.

Industry Overview in Argentina

The automotive industry in Argentina has witnessed notable growth in recent years, with rising consumer demand for passenger vehicles driving production levels. This sector has embraced innovation and sustainability, with manufactu