Maxion Wheels, a division of Iochpe-Maxion S.A., has formed a new legal entity, Maxion Wheels Aluminum India Private Limited, as a key step in its plan to develop and produce up to 4 million light vehicle aluminium wheels annually in India.
In addition to the formation of the new business, the company has secured property in Pune, India where it will initially build a 25,000 square metre manufacturing plant with an annual capacity of 2 million wheels. Additional land has also been purchased for a plant expansion that will double the plants capacity in the coming years.
Maxion Wheels is committed to serving its customers growing demand for light vehicle aluminium wheels, especially in India where market growth is outpacing available capacity, said Pieter Klinkers, chief executive officer, Maxion Wheels. Weve been in India for more than 20 years, providing original equipment manufacturers with steel wheels for light and commercial vehicles. Were pleased to satisfy our global customers growing request that we bring our recognized global aluminium wheel expertise to India, and we are excited about the opportunity our new plant will afford us to strengthen our global footprint and strategically expand our presence in the region.