Corporate Profile
History
 Corporate Profile
Iochpe-Maxion (“Company”) is the leading Brazilian manufacturer of wheels and frames for commercial vehicles and railway freight cars and castings. The Company generates more than 7,000 jobs distributed in six industrial plants in the states of São Paulo, Minas Gerais and Rio de Janeiro.
Iochpe-Maxion operates in the business of wheels and frames for commercial vehicles through its Wheels and Frames Division, which accounted in 2006 for 57% of the Company´s consolidated net revenues. In 2006, the Company believes this division held a share of around 57% of the Brazilian market of wheels for trucks, buses and agriculture machinery, and 66% of the Brazilian market of frames and stamped structural components for trucks, buses and light commercial vehicles, in number of units produced.
The Company also operates in the business of components for passenger cars, through its Automotive Components Division, its main products being sets of welded stamped parts, brake levers, pedal sets, door locks and door handles, which accounted for 7% of the Company’s consolidated net revenues in 2006.
Iochpe-Maxion operates in the business of railway equipments through Amsted Maxion Fundição e Equipamentos Ferroviários (“Amsted Maxion”), a joint venture in which it holds 50% of the voting and total capital, established in February 2000 between Iochpe-Maxion and Amsted Industries, the leading North American manufacturer of railway castings, more specifically railcar wheels, trucks and coupling systems. In 2006, the Company believes Amsted Maxion held approximately 81% of the Brazilian market of railway freight cars and 80% of the Brazilian market of railway castings, in number of units produced. Amsted Maxion accounted for 34% of Iochpe-Maxion’s consolidated net revenues in 2006.
The Company’s products are sold in more than 40 countries in 5 continents. In 2006, the main destinations of the consolidated exports, in terms of value, were: USA (54%), Latin America (20%), Canada/Mexico (7%), Africa and Middle East (9%), Europe (10%).
History
Iochpe-Maxion began its activities in 1918 in the lumber industry in the State of Rio Grande do Sul, and, with time, diversified into the financial and, subsequently, the industrial sector. In the 1980s, the Company acquired several industrial companies, particularly in the agriculture machinery industry. In the early 1990s, Iochpe-Maxion shifted its focus to the auto parts and railway equipment businesses and sold a large part of its assets and interests that had no connection with these industries.
Beginning in 1998, the Company began a process of operational restructuring and definition of its business portfolio. At the same time, Iochpe-Maxion went through a corporate and financial restructuring that resulted in a capital contribution from BNDESPAR and Banco Bradesco S.A., which have thereafter shared the controlling interest in the Company with Companhia Iochpe. In 2004, Banco Bradesco sold its Iochpe-Maxion voting shares to Companhia Iochpe and the non-voting shares to the market, leaving the Company’s controlling group.
In early 2000, Iochpe-Maxion sold 50% of its railway equipment business to Amsted Industries, originating the Amsted Maxion joint venture. In line with its refined business portfolio, in 2002, the Company sold its interest in Maxion Nacam Ltda., a manufacturer of steering columns for passenger cars and, in September 2004, sold its passenger car window mechanism business.
Since June 2004, Maxion Sistemas Automotivos has been divided into two divisions: the Wheels and Frames Division, engaged in the business of wheels, frames and stamped items for buses, trucks, light commercial vehicles and agriculture machinery, and the Automotive Components Division, engaged in the business of components for passenger cars.
Know more about
IOCHPE-MAXION Group
www.iochpe-maxion.com.br
www.maxioncr.com.br
www.amsted-maxion.com.br
www.maxion.ind.br |
