The Board of Directors of Brembo S.p.A. has named Matteo Tiraboschi, currently executive deputy chairman, preferred candidate to become its chairman following the resignation of Alberto Bombassei. Tiraboschi’s appointment will be on the agenda at a General Shareholders’ Meeting scheduled for 17 December, along with a proposal to amend the company’s by-laws in order to create the new role of Chairman Emeritus.
Brembo has signed an agreement for the acquisition of a 100 per cent stake in SBS Friction A/S, a Danish company which develops and manufactures sintered and organic material brake pads for motorcycles. The transaction entails a consideration of 224 million Danish Krone, equal to approximately £27 million. The company will pay this using available cash. Enterprise value is 300 million Danish Krone (£36 million). Brembo expects the agreement’s finalisation in the first quarter of 2021.
Alberto Bombassei, president of well-known brake manufacturer Brembo, has been nominated for induction into the Automotive Hall of Fame. The prestigious honour will be bestowed in a ceremony to be held this July in Detroit. Bombassei is only the ninth Italian to be inducted.
Brake maker Brembo reports that its 2015 revenues grew 15 per cent to 2,073.2 million euros. Pre-tax profits were even stronger, with EBITDA at 359.9 million euros (+28.6 per cent) and the EBIT measurement up 40.8 per cent to 251.3 million euros. During the same period net profit grew 42.5 per cent to 184.0 million euros. Net investments totalled 154.1 million euros. And net debt amounted to 160.7 million euros.
If you would like the latest news from the Chinese tyre industry in Chinese, visit our partner site TyrepressChina.com. Or click below to continue on Tyrepress.