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BREMBO PURCHASES 50% OF THE JV KBX FROM BOSCH STEZZANO, ITALY--(MARKET WIRE)--Oct 27, 2008 -- KBX Motorbike Products Private Ltd is
leader in development, production and sales of disc brake
systems for
motorbikes in India. Brembo, leader in high-performance brake systems, signed an agreement with Bosch Chassis Systems India Ltd. for the acquisition of 50% of KBX motorbike Products Private Ltd (KBX), based in Pune (India), until now a 50-50 joint-venture. On the basis of the joint-venture agreement, the agreed upon price is equal to EUR 10,7 million. The acquisition will be probably executed by the end of this year, after completing the mandatory legal fulfilments required by the Indian Law. KBX, leader in development and production of brake systems in India, was established in February 2006 as a 50-50 joint-venture between Brembo and Bosch. The 2008 expected sales are 1.050 million Rupies (EUR 17 million), the 2008 expected EBIT is 93 million Rupies (EUR 1,5 million); KBX has no financial debt. KBX has about 220 associates in the new plant of Pune, well known as the most important Indian automotive district. KBX hold a 50% market share of motorbike brake systems manufactured in India and its main clients are the leading local as well as international companies such as Bajaj, Hero Honda, Honda Motors, Yamaha, Suzuki, Royal Henfield. "This acquisition is another important step for the growth Brembo in a fast growing market; Brembo will continue to search further development opportunities also in other segments of its core business", stated Alberto Bombassei, Chairman of Brembo S.p.A.. Brembo is based in India, since 2007, also with a design centre supporting the Group R&D activities. 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. Moreover, Brembo is also a leader in the racing sector and has won more than 200 championships. Today the company operates in 13 countries of 3 continents, with 25 production and business sites, and a pool of about 6000 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, AP Racing, Marchesini and Sabelt brands. This information is provided by HUGIN Contact: For further information:
Investor Relations:
Orsi Corrado
Tel. +39 035 605 2884
Vavassori Roberto
Tel. +39 035 605 2223
e-mail: Email Contact
Internet website: http://www.brembo.com
Media Relations:
De Marchi Gianfranco
Tel. +39 035 605 2576
e-mail: Email Contact
Source: BREMBO
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