MAXION-WHEELS

Maxion Wheels, the world’s largest wheel manufacturer, reported today it completed the construction and infrastructure of its new Maxion Jantaş 21,000 sq. meters commercial vehicle (CV) steel wheels plant in Manisa, Turkey. Maxion Wheels, together with its partner Inci Holding, previously announced the expansion during the groundbreaking of newly acquired land, and today reports, the expansion is scheduled for completion in the first quarter of 2022, increasing Maxion Jantaş’ total production capacity to up to three million CV steel wheels a year.

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“With confidence in a full economic recovery, as well as expectation of a robust and growing global freight market over the next five years, Maxion Wheels is determined to serve its growing customer demand by producing more of its market-leading CV steel wheels,” said Pieter Klinkers, Chief Executive Officer of Maxion Wheels. “Our truck wheel volumes continue to grow globally as we pursue our strategy of offering cost-effective-, lightweight- and innovative solutions for the commercial vehicle market. We are excited to soon offer our customers additional capacity from our world-class Turkish operations.”

Mustafa Zaim, Chairman of the Board of Maxion Inci Turkish Operations added, “With this expansion, Maxion Jantaş becomes the largest truck wheel producer in Europe and Near East with two CV steel wheels plants in Turkey, producing up to three million wheels a year. The new plant becomes the fifth Maxion Inci wheel plant in the Manisa Organized Industrial Zone, where Maxion Inci continues to push for global competitiveness with industry breakthroughs such as Industry 4.0 digitalization efforts that focus on elevating all of our plants to “smart plants.”

Maxion and Inci also produce approximately 10 million light vehicle steel and aluminum wheels a year, and with the CV steel wheels, generate annual sales of approximately 350€ million in the Manisa Organized Industrial Zone.

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 Wheels is the world's largest wheel manufacturer, producing 55 million wheels per year. It serves its global OEM customers from 31 locations in 15 countries on five continents, including state-of-the-art technical centers in the Americas, Europe and Asia. To learn more, please visit Maxion Wheels’ website at www.maxionwheels.com .

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