Iochpe-Maxion purchases ArvinMeritors plants of wheels
O Estado de S. Paulo
Iochpe-Maxion, a Brazilian company that operates in the production of autoparts for trucks and buses, cargo wagons and railroad metal castings, announced yesterday the purchase of the plants of wheels and chassis of the American group Arvin Meritor in Brazil and Mexico. With the deal, estimated at US$ 180 million, the company will also start supplying products for the segment of cars, pick ups and sport utility vehicles that is currently responsible for more than 90% of the sales of cars in the Country.
With the acquisition, Iochpe-Maxion will go from an annual production of 1.8 million wheels to more than 20 million units, adding the production of the Arvin Meritor plant in Limeira (SP), 14 million units, to that of San Luis de Potosí, in Mexico, 6 million. The deal also included sales and engineering office in the United States, which will be paid by means of a financing obtained with Brazilian private banks.
Arvin employs nearly 800 people in the line of production of wheels in Limeira, whose income amounted to US$ 325 million in the fiscal year ended in September, 2008. The group will dedicate itself to the segment of systems for heavy vehicles in the unit of Osasco, in the Great São Paulo (Metropolitan Region of São Paulo), where it employs 950 people. One unit of car glass risers and locks that operates in Limeira will be maintained, but it may also be placed for sale in the future. On Monday, the international CEO of Arvin Meritor, Chip McClure, will be in São Paulo to talk about the new plans of the company in the global market and also in Brazil.