November 6, 2003
DaimlerChrysler buys 50% share of Brembo Ceramic Brake Systems
Stuttgart, Germany – Brembo SpA and DaimlerChrysler AG have established a joint venture: each company will hold a 50-percent share in Brembo Ceramic Brake Systems SpA, which will be located in the new Science and Technology Park “Kilometro Rosso” in Stezzano (Bergamo) Italy. The agreement will become effective on January 22, 2004.
The two partners in the new company will contribute their specialist expertise and production facilities for the manufacture of ceramic brake discs. As an automotive supplier, Brembo Ceramic Brake Systems will initially develop and produce ceramic brake discs. Plans call for these activities to be extended at a later stage to include the development, production and sale of supplementary components.