Hayes Lemmerz Ups Stake in Wheel JV

Nov. 28, 2005
Turkish facility starts production early in 2006

Hayes Lemmerz Intl. Inc. has increased its ownership stake in Jantas Aluminyum Jant Sanayi ve Ticaret A.S. (a.k.a. Jantas Aluminum Wheels), its Turkish joint venture operation. The facility at Manisa, Turkey is expected to begin production in early 2006.

Together with Inci Holding A.S., one of venture’s original partners, Hayes acquired the 35% share held by Cromodora Wheels S.p.A. As a result of the transactions, Hayes Lemmerz increased its interest from 40% to 60% of Jantas, and Inci Holding increased its share from 25% to 40%.

Stated Fred Bentley, president of Hayes Lemmerz’ International Wheel Grouo: "Increasing our stake in this joint venture further improves our ability to meet customer needs in the very important Turkish and European markets, as well as leveraging our already strong global position.”

Jantas Aluminum Wheels is expected eventually to produce 1.5 million wheels annually.

Hayes Lemmerz International, Inc. is a global supplier of automotive and commercial highway wheels, brakes, powertrain, suspension, structural and other lightweight components. It has expanded in Mexico, Brazil, Czech Republic, and Thailand recently, and the Turkish operation is described as “the next step in building on the recent success of the low cost focus of operations.”