Hayes Lemmerz Licenses Russian Wheel Producer

Hayes Lemmerz International, Inc has announced that its wholly-owned German subsidiary, Hayes Lemmerz Holding GmbH, has entered into a license agreement with Tolyatinskiy Zavod Stalnih Kolyos (TZSK) of Togliatti, Russia, a manufacturer of steel wheels. Under terms of the agreement, Hayes Lemmerz has granted a license to TZSK to use certain technology in the manufacture and sale of certain passenger car steel wheels to specific Russian vehicle manufacturers.

“We are pleased about this licensing agreement and believe it will position us for substantial growth in this new market,” stated Fred Bentley, President and chief operating officer of Hayes Lemmerz’ Global Wheel Group.

“We look forward to working closely with Hayes Lemmerz on this exciting new opportunity. Hayes Lemmerz’ technology and know how, combined with our local expertise, will help us penetrate the rapidly growing Russian vehicle market,” said TZSK President, Valeriy Shiyanov.