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Freni Brembo SpA Reaches 100% Stake in Brembo Nanjing Brake Systems Co. Ltd

Thursday, 8 Aug 2013 04:29am EDT 

Freni Brembo SpA announced that it reached a 100% stake in 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 CNY 90 million (approximately EUR 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 Chinese automotive industrial Groups), specializes in processing and coating of cast-iron discs and aluminum fixed calipers 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 EUR 70 million. 

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0.23 +0.61%
11:30am EDT