Maxam Tire to acquire Latin America joint venture

Maxam Tire Latin America (LATAM) will acquire and control the full equity interest in the LATAM Joint Venture (JV) on 31 October 2021. The 2015 JV was previously in place with Gustavo Lima and Marco Zigni and structured to expand the Maxam brand in the region via strategic partnership.

“We truly appreciate all of the work done by our Maxam LATAM partners in the region. The business has done extremely well under their leadership, but we feel the time is right to transition the management of this business in-house to realise our long-term strategic objectives,” said Troy Kline, president, Maxam Tire North America.

“Marco (Zigni) and I are proud to have been Maxam Tire’s Latin American partner for many years. Maxam has grown exponentially over the last six years and has decided to control its global footprint from their home base. We wish them the best going forward,” said Gus Lima.