Maxion Wheels Announces Its European Commercial Vehicle Steel Wheel Expansion on Track With New Plant Opening in Turkey
8.3.2021 11:00:00 EET | Business Wire | Press release
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.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210308005014/en/
Maxion Wheels' truck wheel expansion in Turkey will result in 3 million commercial vehicle steel wheels a year. (Photo: Business Wire)
“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 .
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20210308005014/en/
Contact information
MAXION WHEELS MEDIA CONTACT
Colleen Hanley
Global Director, Marketing and Communications
Mobile: +1 (248) 916-2477
Email: colleen.hanley@maxionwheels.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
TOURISE and Oxford Economics Release New Global Report on Tourism Resilience in an Era of Permanent Disruption17.8.2026 17:33:00 EEST | Press release
TOURISE, in collaboration with Oxford Economics, today released a new report, “Resilience in a World that Doesn’t Reset: Redesigning Tourism for an Era of Permanent Disruption.” The analysis of 85 major crises over two decades shows a clear pattern: in a world defined by continuous shocks, destinations that act before disruption hits recover up to 1.5 times faster than those that wait. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260817880835/en/ “In a world that does not reset between crises, disruption is a constant feature of the global tourism landscape,” said His Excellency Ahmed Al-Khateeb, Minister of Tourism of Saudi Arabia and Chairman of TOURISE. “The real test for destinations measures how they prepare for volatility, protect traveler confidence, and maintain continuity ahead of such events.” Using the current Middle East crisis as a lens, where Gulf hubs carry roughly 14 percent of global transit traffic, the r
The Expensify Visa® Commercial Card Brings New Proactive Spend Controls to 14 Countries17.8.2026 16:00:00 EEST | Press release
Expensify, Inc. (Nasdaq: EXFY), the easiest way to manage expenses, travel, and corporate cards, today expanded the reach of Expensify Card spend rules, the market-leading way for businesses to control corporate card spend before it happens. Available to businesses in 14 countries, spend rules let admins decide exactly how, where, and when each Expensify Card can be used, so only compliant transactions go through. Unlike traditional corporate cards that rely on after-the-fact expense review, the Expensify Card enforces policy at the point of purchase. Admins set the rules once, and the card handles the rest. With Expensify Card spend rules, admins can: Lock a card to a subscription. Give each recurring SaaS tool its own virtual card, so a vendor can only ever charge what it should. If the card owner changes teams or leaves, the subscription keeps running, with no swapping cards and no missed payments. Cover a one-time purchase. Issue a virtual card for a single transaction like event r
Riskified Analysis Finds Travel Fraudsters Are Adapting Faster Than Traditional Signals Can Keep Up, With May Flight Risk Up 32%17.8.2026 15:30:00 EEST | Press release
Riskified (NYSE: RSKD), a global leader in ecommerce fraud and risk intelligence, today released new findings from its Travel Industry Insights report, revealing how sophisticated fraud rings and AI-enabled fraudsters are evolving their tactics across airlines, hotels, and online travel platforms. Riskified’s analysis shows that fraudsters are increasingly adapting their behavior to resemble legitimate travelers, making traditional fraud indicators less reliable and creating new challenges for travel merchants. Riskified’s analysis of hundreds of millions of travel transactions across flights, hotels, and land transportation found that flight fraud risk increased through the first five months of 2026, with May 2026 marking the sharpest year-over-year increase at 32% compared to May 2025. The findings show that sophisticated fraud activity is not limited to predictable travel peaks, with organized fraud rings continuously adjusting their methods throughout the year. Riskified's travel n
PIF Delivers Strong Revenue and Profit Growth in 202517.8.2026 14:54:00 EEST | Press release
PIF today published its 2025 Annual Report demonstrating strong financial performance and continued progress against its long-term objectives. As a long-term investor with a unique mandate to drive the economic transformation of Saudi Arabia and deliver sustainable financial returns, PIF maintained a diversified portfolio in 2025, balancing returns with national impact and long-term resilience. Maintaining Financial Discipline In 2025, revenue rose 9% year on year to $120 billion, while net profit more than doubled to $17 billion, supported by stronger contributions from maturing portfolio companies. PIF retained over $900 billion in assets under management and achieved an annualized total shareholder return of 5.8% since 2017. Total shareholder return in 2025 was positively driven by increased dividends from portfolio companies and returns from financial investments. It was also impacted by downward movements in the valuations of some assets, as a result of wider market conditions, an
Foundever Successfully Closes a Holistic Recapitalization, Reducing its Debt by Nearly $900 Million and Strengthening its Financial Position for Long-Term Growth17.8.2026 14:30:00 EEST | Press release
Foundever Group S.A.® (“Foundever” or the “Company”) – a global leader in integrated customer experience, digital operations and analytics services, today announced that it has successfully closed a holistic recapitalization (the “Transaction”) in coordination with 95.4% of the lenders under its term loan facility (“Term Loan Lenders”), 100% of its revolving credit facility lenders (“RCF Lenders”), and the Company’s existing majority shareholders. The Transaction meaningfully strengthens Foundever’s financial foundation and positions the Company to invest in its growth strategy. Key terms of the Transaction include: Company's existing majority shareholders invest $225 million into common equity. Term loan facility exchange reduces the Company's total debt by nearly $900 million. Revolving credit facility maturity date is extended by more than four years to December 2030, and term loan maturity date is extended by more than 2.5 years to March 2031. Certain of the Company's RCF Lenders p
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom