COFIDES will acquire a 40% capital share of the US subsidiary of the Navarran company Grupo Truck & Wheel to set up a tyre assembly plant.

The company will rely on the participation of the FIEX fund in the project company’s capital, with the aim of carrying out necessary investments to provide a service to the Mercedes-Benz plant in Vance (Alabama), for which the company was the successful bidder. With this new plant, it will provide services to Mercedes-Benz, enabling it to establish itself as a supplier in the USA.

The project concerns the acquisition of machinery and development of a 11,800 m2 tyre assembly plant, which will have warehouses and automated tyre and wheel rim assembly lines.

Truck & Wheel is a Spanish business group specialized in logistics and wheel assembly for the automotive sector. It started operations in 1998 in Lesaca, Navarra and currently has 1,435 employees across 24 offices.

The company’s operations are in the areas of transport, distribution, storage, wheel assembly and logistics consultancy services. It is also present in Portugal, France, Mexico and USA.