Danvers, Massachusetts – Speciality off-the-road tire company Maxam Tire, part of China's Sailun Group, is acquiring the full ownership of a joint venture sales operation in Latin America, effective 31 Oct.
Maxam Tire Latin America was created in 2015 in partnership with Gustavo Lima, and Marco Zigni in a bid to expand Maxam’s brand in the region, said the US tire maker in a 20 Oct statement.
Established in in Panama City, the JV oversee sales and distribution responsibility for the Maxam range throughout central and south America and the Caribbean.
“We truly appreciate all of the work done by our Maxam Latam partners in the region. The business has done extremely well under their leadership,” said Troy Kline, president, Maxam Tire North America.
However, the tire maker said it was time to transition the management of the business in-house “to realise our long-term strategic objectives.”
“Marco (Zigni) and I are proud to have been Maxam Tire's Latin American partner for many years,” said Gus Lima.
Maxam, he said, 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”, he added.
Sailun produces OTR tires at plants in China and Vietnam.