THE REMAINING 30% STAKE ACQUIRED FROM THE CHINESEPARTNER DONGHUA.
THE AGREEMENT LEADS TO THE FULL CONTROL OF THE CHINESE COMPANY AND THE COMPLETE INTEGRATION OF THE NANJING INDUSTRIAL HUB
Brembo now owns 100% of Brembo Nanjing Brake Systems Co. Ltd as a result of the acquisition of the remaining 30% stake from the Chinese partner Donghua Automotive
Industrial Co. Ltd, for a total consideration of RMB 90 million (about €11 million). Brembo Nanjing Brake Systems Co. Ltd, which had been set up as a joint venture
between Brembo and Donghua Automotive Industrial (a subsidiary of SAIC, one of the leading Chinese automotive industrial Groups), specialises in processing and coating of
cast-iron discs and aluminium fixed callipers for cars and commercial vehicles.
The company is part of the Nanjing industrial hub opened by Brembo in 2012, in which the Group has invested over €70 million. The acquisition of 100% stake in Brembo Nanjing Brake Systems Co. Ltd is the last step towards the full integration of the hub, consisting of the recently built foundry, the discs and braking systems production lines, and the R&D centre. The full ownership of all the companies within the industrial hub will allow Brembo to take full advantage of all industrial, commercial and corporate synergies.
The manager in charge of the Company’s financial reports, Matteo Tiraboschi, declares, pursuant to paragraph 2 of Article 154-bis of Italy's Consolidated Law on Finance, that the accounting information contained in this press release corresponds to the documented results, books and accounting records.