Business & Finance
Business and Finance
Business and Finance
Fri, January 9, 2009 BREMBO: Brembo widens its activities in Brazil: a business manufacturing iron flywheel for motorvehicles purchased
STEZZANO, ITALY--(Marketwire - January 9, 2009) - PRESS RELEASE
Stezzano, 9th January 2009
For immediate release
Brembo widens its activities in Brazil:
a business manufacturing iron flywheel for motorvehicles purchased
Brembo has purchased from the Brazilian Company Sawem Industrial Ltda, assets and business relating to the production and sale of flywheels for the automotive industry.
The purchase of such activity occurred through Brembo do Brasil Ltda., a fully owned subsidiary, using available liquidity.
The amount of the transaction is approximately Brl 8,2 Mio (about EUR 2,8 Mio) debt free.
The 2008 turnover of the purchased business is of R$ 15 Mio (about EUR 5 Mio) with remarkable development opportunities both in the South American market and in the geographical areas where Brembo is present.
From the technology and production point of view, the product is nicely fitting with the Brembo business of brake discs as far as casting and machining is concerned.
Brembo do Brasil Ltda., headquartered in Betim, Minas Gerais, is specialized in the production and sale of brake discs for the aftermarket and the original equipment, with a share on the Brazilian market exceeding 50%. 2008 net sales is estimated in about Brl 120 million (EUR 40 million). The workforce at 30 September 2008 numbered 300.
Brembo S.p.A. is the world leader and acknowledged innovator of the brake disc technology for automotive vehicles. Brembo supplies high performance brake systems for the most important manufacturers of cars, commercial vehicles and motorbikes worldwide, as well as clutches, seats, seat belts and other components for racing only. Moreover, Brembo is also a leader in the racing sector and has won more than 200 championships. Today the company operates in 14 countries of 3 continents, with 32 production and business sites, and a pool of about 5.700 employees, 9% of whom are engineers and product specialists active in the R&D.
The 2007 sales were equal to EUR 912 million.
Brembo is the owner of the Brembo, Marchesini, Sabelt brands and operates through AP Racing brand.
The manager responsible for preparing the company's financial reports Corrado Orsi declares, pursuant to paragraph 2 of Article 154-bis of the Consolidated Law of Finance, that the accounting information contained in this press release corresponds to the document results, books and accounting records.
For further information:
+-------------------------+--------------------+ |Investor Relations : |Media Relations: | +-------------------------+--------------------+ |Orsi Corrado : Tel. +39 |De Marchi Gianfranco| |035 605 2884 |: Tel. +39 035 605 | | |2576 | +-------------------------+--------------------+ |Vavassori Roberto : Tel. |Francesca Muratori :| |+39 035 605 2223 |Tel. +39 035 605 | | |2277 | +-------------------------+--------------------+ |e-mail : [ ir@brembo.it ] |e-mail : | | |[ press@brembo.it ] | +-------------------------+--------------------+ |Sito Internet : | | |[ www.brembo.com ] | | +-------------------------+--------------------+This information is provided by HUGIN
