Iochpe-Maxion increasing wheel capacities in Brazil
Wheel and automotive component manufacturer Iochpe-Maxion is investing R$100 million (£16.7 million) to expand its operations in Cruzeiro, Brazil. Work to increase truck wheel capacity in Cruzeiro will be finished in the first quarter of 2023 and boost annual output capability by 400,000 wheels, and when expansion of the plant’s agricultural wheel production capacity is completed in the third quarter of the same year, the Cruzeiro site will be equipped to produce a further 110,000 of these products annually.