July 08, 2005 11:39 ET

Brembo Starts Its Second Production Venture in China With Simest as 40% Financial Partner

The Investment Forecast Is of EUR 15 Million by 2007 and Production Is Envisaged to Begin in 2006

CURNO, ITALY -- (MARKET WIRE) -- July 8, 2005 -- BREMBO, world leader in the production of high performance braking systems and SIMEST, a public-private financial company, have signed an agreement to establish a new production company in China. The Joint Venture, participated by Brembo with 60% and SIMEST with 40% and by Venture Capital Fund for China (which will be deducted from the capital by 2013, as provided by the law) will specialize in the production and sale of braking systems for the original equipment.

The site of the plant will be in the Beijing area and will supply the main car manufacturers in Europe and Asia who have production plants in the Far East. The total investment will be of EUR 15 million. Production is planned to start in the Spring of 2006 with expected revenues of about EUR 20 million at full capacity.

BREMBO is the world leader and the acknowledged innovator worldwide of disc braking system technology for vehicles. It supplies high performance braking systems to the most prestigious manufacturers of cars, commercial vehicles and motorbikes around the world. BREMBO is also leader in the racing sector and has won more than 200 championships.

BREMBO has plants in Italy, Spain, Poland, the United Kingdom, Mexico, Brasil and Japan. From 2001 it also has a Joint Venture in China for the production and sale of braking systems.

SIMEST is a public-private merchant bank which promotes the process of internationalisation of Italian companies, by directly participating to investments abroad and by managing the new Venture Capital Funds. Up to today it has already participated to 32 projects in China and started 36 investments with the new Venture Capital Funds.

This information is provided by CompanynewsGroup

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