Hayes Lemmerz gains joint venture control

Hayes Lemmerz International Inc has acquired an additional 35% of its joint venture, Jantas Jant Sanayi ve Ticaret AS, in Manisa, Turkey. Hayes Lemmerz now owns 60% of the company, which is part of Hayes Lemmerz' European Wheel Group. The remaining 40% is held by Inci Holding AS, Cevdet Inci, and members of his family. The joint venture has been renamed Hayes Lemmerz Jantas Jant Sanayi ve Ticaret AS. Terms of the transaction were not disclosed.

Jantas was founded by Cevdet Inci in 1968 to manufacture fabricated steel wheels for the heavy truck and agricultural industries. Hayes Lemmerz International acquired its initial interest in the joint venture when it acquired Lemmerz Werke GmbH in 1997. Today, Jantas has the capacity to produce more than 1.2 million wheels annually.

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