STEZZANO, Italy Brembo said its acquisition of 100 percent of Brembo Nanjing Brake Systems Co. Ltd. is now complete. The company acquired the remaining 30 percent stake in the joint venture from its Chinese partner Donghua Automotive Industrial Co. Ltd, for a total consideration of about 11 million euros.
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), 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 more than 70 million euros.
Brembo says the acquisition of 100 percent stake in Brembo Nanjing Brake Systems Co. Ltd. is the last step toward the full integration of the hub, consisting of a recently built foundry, disc and braking system production lines and an R&D center. 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.