Maxion Wheels [Hayes Lemmerz International Inc.]

Company Profile

■URL

http://www.maxionwheels.com/

■Address

39500 Orchard Hill Place, Ste. 500 Novi, MI 48375 USA

Business Overview

-Originally founded in 1908, the Company is a worldwide producer of aluminum and steel wheels for passenger cars and light trucks and of steel wheels for commercial trucks and trailers.

-In February 2012, Iochpe-Maxion, which is one of the leading wheel manufactures in Brazil, has concluded acquisition of 100% of the Company and created Maxion Wheels.

-The Company produces 65 million wheels per year and generate sales of over USD 2,000 million. It has just over 10,000 employees globally.

Shareholders

-The Company is 100% owned by Iochpe-Maxion S.A.

Products

-Aluminum / Steel wheels for passenger cars and light trucks
-Steel wheel for commercial vehicles

History

1908 Incorporated in Delaware as Hayes Wheels International Inc.
1927 Merged with K.H Wheel Company to form Kelsey-Hayes Wheel Corporation.
Oct. 1993 The Company and Nova Hut a.s. Ostrava of the Czech Republic signed a joint venture agreement to form Autokola. 
Dec. 1993 Sold its 49% interest in Metalurgica FPS do Brazil for $2,800,000.
1993 Increased its ownership in Hayes Wheels, S.P.A. from 75% to 100%
1994 Acquired the remaining 10% interest in Kelsey Hayes de Espana 
1994 Purchased a brake controller business from Kelsey-Hayes Company for $2,000,000
Jun. 1995 Increased in its ownership in its joint venture, Ruedas de Venezuela C.A. from 30 percent to 49 percent.
Oct. 1996 Exercised its right to increase its ownership in Hayes Wheels Autokola N.H. a.s. from 45% to 58% in consideration for cash contribution of $6,000,000.
Jun. 1997 Acquired Lemmerz Holding GmbH and Present name adopted in Oct.1997.
Sep. 1997 Acquired the heavy-duty hub and drum, and also the medium- and heavy-duty steel-wheel business from Bosch Braking Systems Corporation.
Mar. 1998 Acquired 35% interest in Automotive Overseas Investments Limited. 
Mar. 1998 Acquired the remaining 50% interests in Alumitech, a joint venture between Asahi Tec and Tomen, including a 300,000 square feet facility in KY.
May 1998 Purchased an additional 51.1 % of the equity of Borlem SA Empreendimentos Industriais. The deal increased the Company's ownership of Borlem to 98.7 %, with the remaining shares being held by the public.
Jun. 1998 Exercised its right to purchase an additional 16% of the Automotive wheels business of Automotive Overseas Investments Ltd.
Jun. 1998 Acquired MIN-CER S.A. de C.V., Mexico's largest heavy-duty hub, drum and wheel manufacturer.
Feb. 1999 Acquired CMI International Inc.
CMI International is a premier independent supplier of cast aluminum, iron and advanced polymer components to the automotive industry. CMI produces mainly intake manifolds. exhaust manifolds, cylinder blocks and heads, and steering chassis components.
Aug. 1999 Sold 50% interest in A-CMI, a joint venture formed in 1995 between Alcoa and CMI International.
2000 Purchased an additional 25% interest in NF Die Ltd., Alrode, South Africa, an aluminum wheel manufacturer. The purchase price of $ 7.2 million in cash increased the Company's interest in NF Die from 51% to 76%.
Jul. 2001 Announced plans to permanently close its facility in Petersburg, Michigan before the end of this year.  
Nov. 2001 Announced plans to close its manufacturing facility in Bowling Green, Kentucky.  
Dec. 2001 The Company, 30 of its wholly-owned domestic subsidiaries and one wholly-owned Mexican subsidiary filed voluntary petitions for reorganization relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware.
Jan. 2002 Announced the sale of the non-core System Service business Schedl Automotive System Service Beteiligungsgesellschaft mbH & Co. Verwaltungs - KG, in Germany.
Feb. 2002 Announced to close its production facility in Somerset, Kentucky.  
Jun. 2002 Announced the sale of its Schenk foundry, located in Maulbronn, Germany to Metallwerke Klo GmbH (MWK).  
May 2003 In May, the Company announced that the U.S. Bankruptcy Court for the District of Delaware confirmed the modified Plan of Reorganization that was filed by the Company and certain of its subsidiaries.
In Dec., the company acquired majority ownership of Jantas Sanayi ve Ticaret A.S., a steel wheel joint venture in Manisa, Turkey.
Listed on the NASDAQ Stock Exchange (HAYZ) in December.
2004 Acquired Hayes Wheels Aluminio, an aluminum wheel plant in Chihuahua, Mexico and sells 40% interest in Hayes Wheels Acero, S.A. de C.V., a steel wheel company in Mexico.
Forms Turkish aluminum wheel joint venture, Jantas Aliminyum Jant Sanayi ve Ticret A.S. The Company owns 40% of the joint venture with operation in Turkey.
Closed its Howell, Michigan cast aluminium wheel facility.
2005 Closed its La Mirada, California aluminum wheel facility.
Increased its ownership stake from 40% to 60% in its Turkish aluminum wheel joint venture.
Closed its Campiglione, Italy aluminum wheel facility.
Sold its Cadillac, Michigan ductile iron components foundry to a group private investors.
2006 Sold its Southfield, Michigan ductile iron suspension components machining facility to a group of private investors.
Closed its Huntington, Indiana cast aluminum wheel facility.
Entered into a technical license agreement with Tolyatinskiy Zavod Stalnih Kolyos, Russian manufacturer of automotive steel wheels.
2007 Sold its aluminum suspension components facilities to Diversified Machine Inc. and relocated its Automotive Components Group headquarters and Technical Center to Northville, Michigan.
Completed $193 million equity rights offering and private placement and related debt restructuring. Sold MGG Group, which produces heat exchangers, intake manifolds and other cast aluminum components for the European market, to ECF-Group.
2012 Iochpe-Maxion, which is one of the leading wheel manufactures in Brazil, has concluded acquisition of 100% of the Company.
Jun. 2016 Opened a new light vehicle aluminum wheel plant in Limeira, Sao Paulo, Brazil.

Supplemental Information 1