Wetzel is a company that operates in the automotive, agribusiness, electro-fittings, and electrical installations segments. Its activities are divided into the units of:
Electrical Components and Lighting: This unit focuses on the development, production, and commercialization of products aimed at the electrical installation and commercial and industrial lighting segments.
Automotive Components: It is responsible for the development, production, and commercialization of cast iron and aluminum parts aimed at the automotive segment.
Wetzel is present in Mercosur, the United States, and Europe. With a diversified portfolio, Wetzel seeks to work in partnership with consumers. In this way, the company can develop innovative products that meet the needs of each customer.
The history of Wetzel begins in 1932, when Schmidt, Wetzel & Cia was founded. The company was founded by cousins Vigano Schmidt, Arnoldo Wetzel, and Ervino Wetzel.
At the time it was created, the company focused on pressure casting and stood out in the production of faucets and valves.
In 1938, the operation of the first brass injector began, a machine produced in the workshop under the guidance of Vigano and Ervino. This was a pioneering technology in Brazil.
Subsequently, in 1952, the company's name changed to Wetzel & Cia Ltda. In 1960, the company added new products such as aluminum electro-fittings, connectors for electrical energy transmission, and suspension clamps.
In 1966, there were further changes in the company: it was established as a Closed Capital Corporation and was renamed Metalúrgica Wetzel S.A.
In 1971, the iron foundry unit was created, focusing on the production of electro-fitting components. In 1981, the company began exporting its products to the United States and to countries in Latin America.
The IPO and subsequent trading of shares on the São Paulo Stock Exchange occurred in 1984. In 1998, the company acquired control of Metalúrgica Douat and Douat Tecnomecânica.
In the following year, the company changed its name to Wetzel Fundição de Ferros S.A and Wetzel Tecnomecânica S.A. In 1998, the incorporation of Wetzel Fundição de Ferro with Metalúrgica Wetzel S.A occurred, and the name Wetzel S.A was adopted.
In 2006, the electrical substation was installed in the Iron Division, and the construction of the new manufacturing park of the Aluminum Division began at the Perini Business Park Industrial Condominium.
In 2007, the Aluminum Division began operating fully with new facilities, and in 2011, the installation and transfer of the new factory of the Electrotechnical Division to the Perini Business Park was completed.
Since 2016, Wetzel has been in judicial recovery. One of the reasons that led Wetzel to face difficulties and consequently file for judicial recovery was the widespread contraction in 2015 of the sectors in which it operates.
Thus, the debt subject to judicial recovery was R$ 101.1 million, with approximately 60 million owed to banks and R$ 2 million in labor commitments.
