Hayes Lemmerz Absorbs Mexican Wheel Plant

Jan. 21, 2004
Aluminum wheel plant now wholly owned

Cast wheel manufacturer Hayes Lemmerz International Inc. is rearranging its assets in Mexico. The company has bought an aluminum wheel plant in Chihuahua from Hayes Wheels de Mexico, from its joint-venture partner, DESC S.A. The cost of the was not reported.

The Chihuahua aluminum wheel plant is now known as Hayes Lemmerz Aluminio, S. de R.L. de C.V., and it will be a part of the group's international wheel group.

Also, Hayes Lemmerz also sold its 40% equity interest in the joint-venture Hayes Wheels de Mexico to DESC.

Fred Bentley, president of Hayes Lemmerz International Wheel Group, said, "We view this transaction as a key step in our strategy to focus on the growth market for aluminum wheels. We will continue to work closely with our customers to enhance our relationships and continue to strengthen our operations for continued high quality production."