Company Data
CNPJ
Market Cap
Number of Shares
Listing Segment
IPO Date
Key Indicators
P/E
P/VP
DY
Tag Along
Free float
Viability Seal
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Company Data
CNPJ
Market Cap
Number of Shares
Listing Segment
IPO Date
Key Indicators
P/E
P/VP
DY
Tag Along
Free float
Viability Seal
See what thousands of investors think and vote on the assets you consider viable
Company Data
CNPJ
61.156.113/0001-75
Market Cap
R$1.5B
Number of Shares
153.71M
Listing Segment
NOVO MERCADO
IPO Date
9/14/1984
Key Indicators
P/E
16.27
P/VP
0.36
DY
3.17%
Tag Along
100.00%
Free float
89.67%
Viability Seal
Find out whether the asset is viable or a dud
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The stock is undefined relative to the fair price by the Graham formula.
R$9.68
The stock is undefined relative to the fair price by the Bazin formula.
R$9.68
Initially, Iochpe-Maxion is a company that operates in the production of automotive wheels and automotive structural components. In this context, it is considered a global leader, with a high level of technical knowledge employed in its operations.
In general, the Company has important competitive advantages that drive its business:
Market leadership: mainly in the manufacture of wheels for light vehicles, commercial vehicles, and agricultural machinery
Global presence: participation on all continents in the wheel market and especially in the NAFTA region in the structural components market
Competitive production cost: specialized production in a modern manufacturing park in an agile, fast manner and with competitive costs
Quality of products and processes: certified products recognized in Brazil and abroad
The largest wheel manufacturer in the world has 32 industrial plants located in 14 countries. Simplistically, Iochpe-Maxion's operations can be divided into 3 categories:
Maxion Wheels
Maxion Structural Components
Amsted-Maxion (joint venture)
In this division, the company is responsible for the production of steel and aluminum wheels for light vehicles and steel wheels for commercial vehicles. Altogether, it operates with 23 industrial plants in 12 countries, supplying its items to major global automakers such as Daimler, Ford, Volkswagen, FCA, Renault, Nissan, Toyota, Honda, Scania, and GM. Thus, this production is installed in the countries as follows:
Steel wheels for light vehicles: Brazil, Mexico, United States, Czech Republic, Germany, Spain, Turkey, and India
Aluminum wheels for light vehicles: Brazil, Mexico, Czech Republic, Italy, Turkey, and South Africa
Steel wheels for commercial vehicles: Brazil, Mexico, United States, Germany, India, and China
Additionally, Maxion Wheels utilizes innovative technology for the manufacture of automotive wheels, called Multi Color Paint Application (MCPA). In this way, it provides a precision finish where up to six colors of paint are applied to the aluminum wheel, contributing to the vehicle's customization. Finally, the projects in this category include the following products:
Maxsmart:smart wheel with the ability to capture information such as pressure, load, camber angle, and revolutions per minute
Aero Wheel: “Covers” for commercial vehicle wheels that reduce aerodynamic drag and fuel consumption
Gen30: commercial wheel with weight reduction
Acorus: flexible wheel that contributes to vehicle safety while maintaining its aesthetic qualities
This arm of the company focuses on the production of beams and chassis for commercial vehicles and stamped assemblies for light vehicles. Currently, the Company carries out such operations in 6 industrial plants located in 4 countries, establishing its manufacturing as follows:
Beams and chassis for commercial vehicles: Brazil, Argentina, Uruguay, and Mexico
Stamped assemblies for light vehicles: Brazil and Argentina
Similarly, Iochpe operates innovatively and with high technology implemented in the main products of this division, which include, for example:
Chassis 10Ton: aluminum beams, aluminum cross members, carbon fiber cross members, fiberglass cross member, hybrid cross member (carbon fiber + fiberglass)
MSC: aluminum cross members as a complement to steel
MSC – Adhesives: joins different materials while maintaining application properties
This affiliate of the Company in the form of a joint venture is responsible for the production of railway cars, wheels, and railway castings and industrial castings. Here, its main clients are the railway operators in Brazil.
In total, Amsted-Maxion operates 2 industrial plants in Brazil, one in the city of Cruzeiro (production of railway and industrial castings) and another in the city of Hortolândia (assembly of railway cars), both in the state of São Paulo.
The history of Iochpe-Maxion takes us back to 1918, when it began operations in a sector very different from the current one, in the lumber industry, in the State of Rio Grande do Sul. Over the years, its operations diversified and became directed towards the financial sector and, later, to the industrial sector, in which it has established itself to this day.
In the 1990s, the Company began to focus on the auto parts and railway equipment segments. In other words, it divested a large part of the assets and holdings that were not linked to these segments. In 1998, there was an operational restructuring process and a definition of the business portfolio to be followed.
At the beginning of the 21st century, almost half of the railway equipment business was sold to Amsted Industries, which led to the formation of the joint venture Amsted Maxion. After that, the Company began to conduct its business through two companies, the controlled AmstedMaxion in the railway segment, and Maxion Automotive Systems with two divisions:
Wheels and Chassis
Automotive Components
In 2008, the Company's old preferred shares were replaced by the common shares MYPK3, which began to be traded in the Novo Mercado segment of Bovespa. In the same year, aiming to simplify the operational and corporate structure, the company incorporated Maxion Automotive Systems, making it operational again, through the concentration of all its main Brazilian operations, except for the controlled AmstedMaxion, into a single legal entity.
In 2009, the company acquired the wheel business of ArvinMeritor in Brazil, Mexico, and the United States, which became known as the Fumagalli Division. Another important acquisition by the company occurred in December 2010, when it purchased the assets related to the wheel business of Nugar S.A.P.I. de C.V., a Mexican company controlled by the CIE Automotive group.
Following its expansion plans, Iochpe-Maxion acquired 50% of the shares of Montich S.A., a renowned manufacturer of beams, chassis, and stamped parts for commercial vehicles in Argentina, changing its corporate name to Maxion Montich S.A..
Finally, in 2012, the acquisition process of the Grupo Galaz, a Mexican group manufacturing steel beams for commercial vehicles, and Hayes Lemmerz an American company that is an international manufacturer of automotive wheels, made of steel for light vehicles, commercial vehicles, and off-road, as well as aluminum for light vehicles, was completed.
More recently, in 2019, the company established a partnership with the Chinese Dongfeng, specialized in research and development, manufacturing, and sales of auto parts, including chassis, brakes, and intelligent driving systems, thermal management systems, lightweight technologies, and transmission systems. Thus, it enabled the construction of a factory in Suizhou, China, with a capacity to produce 2 million aluminum wheels.
