Iochpe-Maxion
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| Sociedade Anônima | |
| Traded as | BM&F Bovespa: MYPK3 |
| Industry |
Wheel Rail |
| Founded | 1918 |
| Headquarters | São Paulo, Brazil |
Key people | Ivoncy Brochmann Ioschpe, (Chairman & CEO) |
| Revenue |
 US$ 2.7 billion (2012) |
 US$ 51.5 million (2012) | |
Number of employees | 14,050 |
| Website | www.iochpe-maxion.com.br |
Iochpe-Maxion is the largest global wheel maker company with two main divisions in the auto parts and railway equipment industries, which together account for nearly 14.0 thousand direct job positions at 23 manufacturing plants in the states of São Paulo, Minas Gerais, and Rio de Janeiro and in more than 11 countries.
Overview
Iochpe-Maxion’s products are sold to more than 42 countries on five continents. Key destinations are the United States, Venezuela, Argentina, Canada, and Italy, which together accounted for 80% of the company’s exports in 2005. During this period, export sales totaled US$96 million (representing approximately 15% of the company’s net operating revenue), an increase of 103% in US dollar terms (61% in local currency terms) over the previous year, when exports totaled US$47 million.
History
Iochpe-Maxion, a publicly traded company since 1984, has its roots in the Iochpe Group, which started activities in the timber industry in Brazil's state of Rio Grande do Sul in 1918. After several decades of business diversification, the conglomerate shifted its focus in the late 1990s to the auto parts and railroad equipment businesses. Iochpe-Maxion currently has two main subsidiaries, both leaders in their industries: Maxion Sistemas Automotivos Ltda. (which operates with the Wheel and Chassis Division and the Automotive Component Division), and Amsted Maxion Fundicao e Equipamentos Ferroviarios S.A. These companies have five plants in the cities of Cruzeiro, Osasco and Hortolandia, in the state of São Paulo; and in Contagem, in the state of Minas Gerais. Iochpe-Maxion's parent companies are Companhia Iochpe and BNDESpar, both represented on the Board of Directors.
In 1996, the agricultural equipment business was sold to AGCO. Maxion was at the time the licensee for AGCO's Massey-Ferguson brand of tractors and combines, and also manufactured tractors and backhoes under the Maxion brand, and combines under the IDEAL brand.[1]
Subsidiaries
Maxion Sistemas Automotivos Ltda.
This company operates through two divisions:
Wheel and Chassis Division
This division manufactures steel wheels for trucks, buses and agricultural machinery and complete chassis, siderails, and cross-members for trucks, buses and light commercial vehicles. In 2005, it remained the leader in these two segments in the domestic market, with a 60% share of the wheel market and a 71% share of the chassis market. The division’s plants are located in Cruzeiro, in the state of São Paulo, and in Resende, in the state of Rio de Janeiro. The division employs 3.1 thousand workers and accounted for 54% of the company’s consolidated net operating revenue in 2005.
Automotive Components Division
This division manufactures handbrake levers, pedal sets, latches, and locks, among other components for passenger cars. Its plant is located in the city of Contagem, in the state of Minas Gerais. The division employs 800 workers and accounted for 6% of the company’s consolidated net operating revenue in 2005.
Amsted Maxion Fundição E Equipamentos Ferroviários S.A.
This is a joint venture between Iochpe-Maxion and Amsted Industries that manufactures railway freight cars, railway wheels, and industrial and railway castings. In 2005 it remained the leader in the domestic railway freight car segment, with nearly 84% of the market; it also remained the leader in the domestic railway castings segment, with nearly 80% of the market. The division has plants in Cruzeiro, Osasco, and Hortolândia, all in the state of São Paulo. With 4.7 thousand employees, the division accounted for 40% of the company’s consolidated net operating revenue in 2005.