20.05.2026 14:10
Global wheel manufacturer Magnetto Wheels has decided to withdraw from its operations in Turkey. The Italian group's majority stake in JMW Jant will be transferred to local manufacturer Jantsa. Following the completion of the process, Jantsa is expected to hold over 99% ownership of the company. Industry representatives evaluate that the decision may be linked to increasing cost pressures in the automotive supplier industry and the global restructuring process.
Global wheel manufacturer Magnetto Wheels has announced its decision to exit its Turkish operations. The Italian group has initiated the official process to transfer most of its shares in JMW Jant Sanayi ve Ticaret A.Ş. to local manufacturer Jantsa.
According to a statement from the company, the decision was finalized after an Extraordinary General Assembly meeting. It was reported that legal procedures for capital increase and share transfer have officially begun.
JANTSA WILL TAKE FULL CONTROL OF THE COMPANY
Under the share transfer agreements, the shares held by the Magnetto Wheels group through its various subsidiaries will be transferred to Jantsa.
Upon completion of the process, Jantsa's stake in the company is expected to exceed 99 percent. Thus, the management and operational control of the company will fully pass to the locally-owned manufacturer.
A NOTABLE DECISION IN THE AUTOMOTIVE SUPPLY INDUSTRY
Industry representatives believe that Magnetto Wheels' decision to withdraw from Turkey may be linked to the global transformation in the automotive supply industry, increasing cost pressures, and restructuring processes.
According to experts, European-based automotive companies have recently begun reshaping their operations due to production costs and global competition.
SIGNAL OF A NEW ERA IN THE SECTOR
The Italian group's exit from the Turkish market was interpreted as one of the latest examples of consecutive restructuring moves in the automotive sector.
Industry sources indicate that after the transfer process is completed, Jantsa could achieve a stronger position in domestic production.