Iochpe-Maxion adheres to “long-term strategic development”

Iochpe-Maxion increased its sales by at least 29.2 per cent worldwide in the past nine months to 12.79 billion Brazilian real (2.47 billion euros). Since pre-tax profits (EBIT) rose meanwhile by only 4.6 per cent to 1.1 billion real (208 million euros), the EBIT margin of the world’s largest wheel manufacturer fell by two percentage points to 8.4 per cent.

The European business accounts for a good 30 per cent of sales, with this growing slightly below average in the past nine months by a total of 20.7 per cent to 3.87 billion real (742 million euros), which was mainly due to the weak steel car wheel business (“only” up 14.9 per cent sales). As Iochpe-Maxion writes in its current management report, despite “global economic and geopolitical uncertainties” the company has stuck to the “long-term strategic development” of the company, which announced its entry into the truck alloy wheel business at the IAA Transportation in autumn with the construction a factory in Turkey (capacity: 350,000 units a year).

Source: Maxion