MAXAM Tire Latin America has announced the decision to acquire and control the full equity interest in the LATAM Joint Venture previously in place with Gustavo Lima and Marco Zigni, effective October 31, 2021.

Created in 2015, the MAXAM Tire Latin America JV was structured to expand the equity of the MAXAM Tire brand within the Latin America region and sought to help establish a new strategic partnership in the specialty tyre business.

“We truly appreciate all of the work done by our MAXAM LATAM partners in the region,” Troy Kline, President, MAXAM Tire North America, said. “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 realise our long-term strategic objectives.”

“Marco (Zigni) and I are proud to have been MAXAM Tire’s Latin American partner for many years,” Lima said. “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.”