Iochpe-Maxion investing USD20 million to expand Brazilian operations
By Will Hall - 21st June 2022
Iochpe-Maxion expanding Cruzeiro wheel plant
Brazil – Iochpe-Maxion S.A., based in São Paulo, and parent of Maxion Wheels GmbH has announced it is to invest BRA100 million (USD20 million) in its Cruzeiro manufacturing facility in Brazil. As a result of the investment, the company will increase its annual production capacity by 400,000 truck wheels and 110,000 agricultural wheels. The increased production capacity is expected to be available beginning in Q1 2023 for truck wheels, and Q3 2023 for agricultural.
The Structural Components plants will diversify its production of parts further strengthening its relationships with truck manufacturers. The company recently announced ROADMAP ZERO, a strategy to become a carbon neutral mobility supplier by 2040. Its efforts in sustainability were recently recognized by BNDES with the 1st place prize for “All for Sustainability” in the category of education support, and for the positive social impact generated by the Iochpe Foundation for the Formare program.
