Bangkok, THAILAND, December 13, 2017 – Maxion Wheels, the world’s largest wheel manufacturer, announced today that its parent company, Iochpe-Maxion S.A., has purchased the remaining shares from 30 percent partner Siam Cement Public Company Limited, for the passenger car aluminum wheel operation, Maxion Wheels Thailand Co., Ltd., in Saraburi, Thailand.
The partnership, formed in 1992, employs more than 500 people, and is a key operation in Maxion Wheels’ global wheel network, strategically located to serve its global customers’ domestic and export light vehicle aluminum wheel needs.
About Maxion Wheels
Maxion Wheels, a division of IOCHPE-MAXION S.A., is a leading wheel manufacturer for passenger cars, light trucks, buses, commercial trucks and trailers. The Company also produces wheels for agriculture and military vehicles, as well as other off-highway applications. With more than 100 years of wheel-making experience and 10,000 employees globally, Maxion is the world's largest wheel manufacturer, producing 58 million wheels per year. The Company serves its global OEM customers from 28 locations in 15 countries on five continents, and has state-of-the-art technical centers in the Americas, Europe and Asia.
About Siam Cement Public Co. Ltd.
Siam Cement Group (SCG) established in 1913 as Thailand’s first cement manufacturer, SCG has since evolved to be a major player in ASEAN with three business units: Chemicals, Packaging, and Cement - Building Materials. Listed on the Stock Exchange of Thailand in 1975, SCG has a market capitalization of approximately US$17 billion [as of October 2017] and a free float of approximately 70%. In FY2016, SCG had consolidated sales of US$ 13 billion, 23% of which was from ASEAN markets outside of Thailand. Today, SCG has a total workforce of more than 53,000 employees, of which a third are stationed across the ASEAN region outside of Thailand. To learn more, please visit SCG’ website at www.scg.com.