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Dymag

Dymag’s Strategic partnership with Hankuk Carbon Co Ltd to mass manufacture… 1024 772 Dymag Group Limited

Dymag’s Strategic partnership with Hankuk Carbon Co Ltd to mass manufacture…

Dymag is delighted to announce a new strategic partnership with Hankuk Carbon Co Ltd to mass manufacture our state-of-the-art carbon composite wheels for the automotive industry.

 

The collaboration will leverage our brand and experience in manufacturing lightweight carbon composite wheels, together with Hankuk Carbon’s expertise in advanced materials and industrialisation. 

 

The partnership will rapidly scale-up carbon composite wheel production, bringing higher volumes and cost efficiencies for the world’s leading auto OEMs. This technology brings multiple advantages across all sectors, from luxury to high-performance, ICE to BEV, offering weight savings in excess of 50% over a traditional cast alloy wheel, but with far greater strength and durability.

 

Dymag CEO Tom de Lange said: “The strategic partnership between Dymag and Hankuk Carbon will enable a step change in the production and supply of state-of-the-art carbon composite wheels to the world’s leading automotive OEMs, bringing not only significantly higher volumes but also greater cost efficiencies via scalable, localised manufacturing. 

 

“The price-point for these wheels will be appropriate for both luxury and performance-oriented versions of road cars, particularly the growing high-end electric vehicle market, thanks to Dymag’s technology benefits in improving EV range and NVH. For all automotive sectors, the dynamic, durability and aesthetic benefits of carbon composite hybrid wheels will become accessible to a larger number of consumers through OEM programmes.”


Hankuk Carbon Chairman Mr. Moonsoo Cho said: “We share Dymag’s vision for the growth in the global market potential for high performance hybrid carbon composite wheels and our expertise in composite materials and industrialisation will accelerate this. Together, we will bring automotive OEMs an unrivalled technical and commercial offering for future vehicles.

Dymag® Rapid Growth Drives Auto Carbon Rim Scale-Up & Cost Reduction Plans 1024 683 Dymag Group Limited

Dymag® Rapid Growth Drives Auto Carbon Rim Scale-Up & Cost Reduction Plans

Record Growth in 2020 – 21

Dymag® has shown record sales growth over the past 5 successive quarters as a result of carbon wheel orders received from niche OEMs and specialist tuners, and from leading aftermarket wheel companies for BX-F™ carbon aftermarket rims. The company is benefiting from the continuous expansion of its BX™ carbon rim range that now covers 18” to 23” with a range of ratings to suit lightweight supercars, heavier BEV and SUV vehicles.

Pebble Beach 2021: Radford P62 Lotus Gold Leaf

Niche OEM and Tuner Projects

During a challenging and uncertain 18 months, Dymag has won over 20 niche OEM wheel projects in the UK and USA and signed long-term supply contracts for BX-F™ carbon rims with 14 aftermarket wheel brands worldwide. Publicly announced wheel projects include the Lanzante McLaren Senna GTR and LM25 programmes, the GuntherWerks Speedster, the Radford P62 Lotus, Smit Brothers, JRM, Naran, Supercar System, with various other projects to be announced in 2021 and 2022.

Pebble Beach 2021 : Guntherwerks Porsche 993 Speedster with forged magnesium – BX-F carbon rim

Aftermarket BX-F Programme Expands

Dymag is now firmly established as the aftermarket carbon hybrid rim supplier to premium USA based wheel performance and luxury wheel brands Forgeline, Brixton, Vorsteiner, 1221, Strasse, MV Forged, RSV Forged and AL13, while Vossen will be launching their carbon wheel programme using Dymag BX-F™ rims in the near future. Meanwhile, in Europe and the Middle East, Dymag has announced partnerships with Rimstock (UK), mbDESIGN (Germany), Dillinger (Spain) and several other niche wheel brands in Switzerland, UK and Latin America which will also be announced shortly.

Dymag® BX-F™ Carbon Aftermarket Partner Brands

Aventador SVJ by AL13
Nowick Concept 8 Corvette C8 by Forgeline

Time to scale up…

Significantly, the company is now seeking to expand its niche OEM business into the major vehicle OEM brands working directly and with several international Tier 1 wheel manufacturers building on its growing reputation for superior technology, quality, design flexibility and modular 18” to 23” carbon rim range.

The strategic opportunity is now for Dymag to build its capacity from the current 4,000 rims per year to over 25,000 rims per year as quickly as possible for delivery in mid-2023 onwards.

Dymag is currently in the process of exploring mass production options and licensing opportunities in the Far East for its internationally patented BX™ technology, to supply both complete wheels and modular carbon rims to USA and Asia Pacific-based vehicle OEMs and Tier 1 wheel companies.

Chris Shelley, Executive Chairman of Dymag said:

“This has been quite a journey in which Dymag has uniquely developed a market leading high quality, durable product for both OEM and aftermarket customers. We have overcome major development and production challenges to become the carbon rim of choice by many aftermarket wheel manufacturers.

We have been developing a partnership opportunity with a carbon composites manufacturer experience of mass production for automotive, sporting goods and industrial products and hope to conclude our partnership agreement in the near future. As the company grows, it is moving into operating profitability, which will mark a unique achievement compared to several of our competitors; making this is a very exciting time for the company.

The company is growing in spite of the current uncertainty the automotive sector faces caused by the pandemic and the unprecedented drive towards CO2 reduction and phasing out of ICE powered vehicles. Demand from OEM and aftermarket segments is growing, with projects coming in from all over the globe.”

BX-F™ carbon rims for OEM and aftermarket
BX-E™ carbon rims for OEM and tuner projects
Find out more about Dymag® BX™ Carbon Rims

Tom de Lange, CEO said today:

“With the product development completed and having demonstrated the ability to meet the full TÜV and OEM test standards, we can now focus on the cost reduction programme and increasing output. We have a significant product cost reduction programme that will transform the affordability of carbon wheels over the coming 12 to 36 months.

We now have the opportunity to scale-up become carbon rim production capacity, as major OEMs accelerate adoption of lightweight carbon composite wheel technologies for their premium vehicle programmes, especially in the battery electric vehicle, sportscar, luxury SUV and light truck markets.

We have really turned the corner moving from R&D focus to full commercialisation. Thanks to our modular rim design and re-usable engineering philosophy, we are able to amortise tooling investment across multiple projects and customers, massively reducing development and product costs and cutting lead-times dramatically.”

Dymag embarks on ambitious growth strategy 1024 640 Dymag Group Limited

Dymag embarks on ambitious growth strategy

Dymag, the company behind the state-of-the-art performance wheels used on some of the top performance vehicles in the world, is embarking on an ambitious growth and development journey from its HQ in Wiltshire, England.

Dymag Group Limited (Dymag) designs and manufactures lightweight carbon composite hybrid and full carbon wheels for cars and motorcycles. The company supplies both complete wheels and carbon barrels (rims) as sub-components to third party aftermarket companies in the UK, Europe, USA and Japan. Its clients include a global supercar brand, which is supplied on an Original Equipment Manufacturer (OEM) basis. Other OEM deals are in the pipeline.

Dymag’s aftermarket wheels are designed and manufactured to internationally recognised standards and are fitted to vehicle brands including Ferrari, McLaren, Porsche, Lamborghini and JLR’s Jaguar F-Type. The firm’s technology has a full UK patent for its unique design, which strengthens the wheel rim using different materials constructed to deliver a complete wheel that is lighter, stronger and faster than conventional designs. The wheel is highly durable and performs safely in high impact conditions, such as hitting potholes.

The company is ready to scale up production to offer its technology to other automotive businesses, thus delivering some of the functional advantages already enjoyed by high performance users. The wheels are tough but lightweight, creating a significant carbon footprint advantage in terms of fuel economy and, in the case of electric vehicles, in range per full charge.

Dymag plans to increase its production capacity with the aim of driving down costs as it strikes agreements with leading tier one automotive suppliers which specialise in wheels and structural composite components for the automotive, industrial and aerospace sectors. The resulting agreements will see this British technology applied to wheels on mid-market cars and other vehicles in the passenger vehicle market.

Carbon fibre wheel weight reduction benefits are huge; estimates from a leading sportscar OEM manufacturer suggest a Dymag Carbon Hybrid wheel is typically at least 40% lighter than an equivalent cast aluminum wheel.

Chris Shelley, CEO of Dymag, said: “The technology is now starting to move into mainstream vehicle production having been developed and proved in advanced supercar applications. At present wheels are produced in relatively small run numbers of hundreds per month. We are ready to deliver on a plan to scale up production to thousands per month. The planned increased capacity will also drive prices down rapidly, bringing them towards economic viability for all passenger vehicles.

“International competition is modest but also gearing up for a ‘transformation’ in wheel technology. An Australian firm has recently raised US$50m on sales expectations in this important niche sector of the future automotive supply chain market. We have been talking to a number of interested investors and have scaled up our plans to meet their ambitions and the opportunities we see in the future market.”

The UK firm is planning to raise an additional £5m of growth capital in the next year, resulting in a new production line ultimately capable of delivering 50,000 wheels per year.

Seeking new recruits to supercharge growth 1024 640 Dymag Group Limited

Seeking new recruits to supercharge growth

Wiltshire based Dymag Group, the British designer and manufacturer of carbon hybrid automotive wheels, is gearing up for a record 2019 and is looking for local engineers to fuel its global growth plans.

Dymag, which employs 32 skilled staff at its base in Chippenham is set to expand its operations with a move to larger premises in early 2019 and the creation of a significant number of new jobs across its design and production capabilities.

The manufacturer recently secured significant new injection with a £3.6m investment closed by Puma Private Equity, the private equity division of Puma Investments. This will support faster delivery of its pipeline of product development and bring further innovations into its manufacturing processes to match the growing demand for carbon hybrid technology.

Dymag produces aluminium and carbon motorcycle wheels that are used by leading moto racers across the world, including many British Superbike teams and the majority of road racers at the Isle of Man TT and Ulster GP. The company has also patented a carbon hybrid automotive wheel – called the BOXSTROM in memory of Dymag’s founder Max Boxstrom – which is up to 50% lighter than traditional alloy wheels, improving all aspects of driving performance. The British firm is already working with many of the world’s leading supercar manufacturers and has a growing global aftermarket presence.

Chris Shelley, CEO of Dymag, commented:

“We are enjoying a great year at Dymag with record sales of our motorcycle wheels and huge interest from the biggest names in the automotive sector over our BOXSTROM carbon hybrid auto wheel, but 2019 is looking even better. The business is now in a great place to continue this growth and we are looking to expand our operations and recruit more people to our team.”

Dymag has always been based in Chippenham but getting local talent has been a constant challenge, the business is also on the lookout for the right premises to move to within the town.

Shelley concluded;

“We are a proud local employer and want to recruit locally, but this has been a challenge.   We are convinced there are the right skills in the region, and advanced automotive manufacturing is a UK success story; however we have had to recruit from across the UK and Europe as we cannot find enough local talent.”

Each Dymag automotive wheel is made by hand and recent success and orders from across the world mean the business is increasing its production. Vacancies include skilled workers to help make the carbon wheels, as well as machinists and new assembly teams.

Direct applicants should email hr@dymag.com for more details.

For further information, or to arrange an interview with Chris Shelley, CEO of Dymag Group, contact:

Alister Foye, Leader Communications
+ 44 1789 739248
+ 44 7595 189964
alister.foye@leader.co.uk

Dymag to supercharge growth in 2019 1024 640 Dymag Group Limited

Dymag to supercharge growth in 2019

Dymag Group, the British designer and manufacturer of carbon hybrid automotive wheels, is predicting a record 2019 as a £3.6m investment closed by Puma Private Equity, the private equity division of Puma Investments, fuels its global growth plans.

Dymag, which employs 32 skilled staff at its base in Chippenham, Wiltshire is set to expand its operations in Chippenham, with a move to larger premises in early 2019 and the creation of a significant number of new jobs across its design and production capabilities. This investment will also support faster delivery of its pipeline of product development and bring further innovations into its manufacturing processes to match the growing demand for carbon hybrid technology.

The British firm is already working with several of the world’s leading performance original equipment manufacturers (OEMs) and has a growing aftermarket presence with regional strategic partners including Forgeline, Brixton Forged and ADV.1. Dymag sees this partnership strategy as integral to global growth, developing co-branded aftermarket products, bespoke tuner products and OEM projects across key markets and territories.

Chris Shelley, CEO of Dymag commented:

“Following a comprehensive search for the right partner to help us at this stage of our development, we chose to work with Puma Private Equity given the team’s understanding of technology and manufacturing, plus their long-standing commitment to supporting British businesses.”

“We continue our goal of making Dymag the technology of choice available anywhere in the world. Working with strategically chosen partners enables us to tune our products and business model to the needs of each market. In North America we have partnered with Forgeline, Brixton and ADV.1 to bring our technology to market with performance and luxury wheel brands who know what their customers want. We have products in the pipeline for automobiles and motorcycles that serve OEM, aftermarket and tuner markets. And our commitment to racing and performance applications is unwavering.”

Tommy O’Sullivan, Managing Director at Puma Private Equity, advised on the investment of £3.6 million. Puma Private Equity advises Puma Investments on discretionary funding to SMEs across all sectors, and partners with management teams to accelerate business growth. So far this year, funds managed by Puma Investments have invested £25 million into seven companies. Speaking on this investment in Dymag, Tommy O’Sullivan said:

“Dymag is positively disrupting the automotive wheel market with its new carbon wheel products. Significant investment in its products and processes has strengthened the business and allowed the team to build on the brand’s long-standing motorcycle racing heritage. The company is now well- placed to accelerate growth and establish itself as the global leader in this niche market.”

Dymag is a global pioneer in carbon wheel technology, launching the first commercial carbon motorcycle wheel in 1996 and the first carbon hybrid automotive wheel in 2004. Its flagship is the BOXSTROM™ BX that comprises a patented carbon rim developed with the National Composites Centre in Bristol, UK, mounted with a high strength forged aluminium centrepiece, to produce a wheel that delivers unparalleled performance and highly flexible application capabilities without comprising safety, surpassing the strictest OEM laboratory and track testing.

Across the automotive industry the drive to reduce weight has become paramount. With OEMs turning to electric and hybrid engines or looking to optimise the efficiencies in petrol and diesel technology, there has been a flight to carbon; especially in tackling unsprung weight. As testament to this, leading OEMs including BMW, Rolls Royce, Porsche, McLaren and Ford have all launched carbon wheel programmes in recent years.

The BOXSTROM™ carbon hybrid wheel reduces weight by up to 50% compared to standard alloy wheels and improves moment of inertia by up to 60%. These unparalleled enhancements in performance are matched by uncompromising standards of safety, achieved via a number of unique design and technical features that are fully patent protected.

At the 2018 SEMA show, Dymag unveiled the BXF wheel which harnesses the performance and safety benefits of the BOXSTROM™, with the added versatility of a greater range of styling options for the aluminium centrepiece due to the flange technology. The BXF is aimed at the aftermarket and custom tuners, where wheel design and aesthetics are greatly desired.

Dymag would like to particularly thank WH Ireland who acted as its financial adviser and broker, sourcing the funds and advising upon the transaction and TLT for advising upon the legal aspects of the transaction.

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