Maxam Takes Full Control of JV in Latin America
Maxam Tire Latin America has acquired full equity interest in the LATAM joint venture previously in place with Gustavo Lima and Marco Zigni.
Created in 2015, the joint venture was structured to expand the equity of the Maxam brand within the Latin America region and "sought to help establish a new strategic partnership in the specialty tire business," according to Maxam officials.
Troy Kline, president of Maxam Tire North America, says that his company appreciates "all of the work done by our Maxam LATAM partners in the region. The business has done extremely well under their leadership, but we feel the time is right to transition the management of this business in-house to realize our long-term strategic objectives."
“Marco (Zigni) and I are proud to have been Maxam Tire's Latin American partner for many years," says Lima. "Maxam has grown exponentially over the last six years and has decided to control its global footprint from their home base. We wish them the best going forward."