Maxam Tire Latin America (LATAM) will acquire and take the full equity interest in the LATAM Joint Venture (JV) previously in place with Gustavo Lima and Marco Zigni.

Created in 2015, the Maxam Tire Latin America Joint Venture 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. 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,” says Troy Kline, president of Maxam Tire North America.

For many years, Maxam Tire has enjoyed growth and success with a strong reputation for market leading quality, reliability and delivered value as a true business solutions provider, a company statement explains. As Maxam turns the page to a new chapter of business in the Latin America region, the Maxam Tire brand remains committed to supporting its valued customers of today and tomorrow.

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