Maxam Tires Latin America (LATAM) has announced it will acquire and control the full equity interest in the LATAM joint venture, previously in place with Gustavo Lima and Marco Zigni. This will be effective from October 31, 2021.
The Maxam Tire Latin America JV was created in 2015 and structured to expand the equity of the Maxam Tire brand within the Latin America region. It also sought to establish a new strategic partnership in the specialty tire business.
“We truly appreciate all of the work done by our Maxam LATAM partners in the region,” commented Troy Kline, president, Maxam Tire North America. “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.”
Gustavo Lima explained, “Marco (Zigni) and I are proud to have been Maxam Tire’s Latin American partner for many years. 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.”