Hayes Lemmerz International has released further details on the sale of the company’s Automotive Brake Components division. The purchaser has been named as Brembo North America, Inc., a subsidiary of Italy’s Brembo S.p.A. The debt-free transaction sees US$58 million worth of shares change hands, and under the agreement announced on November 9, Brembo North America has acquired all of the stock of two Hayes Lemmerz subsidiary companies that own the brake manufacturing operations in Homer, Michigan and Apodaca, Mexico and certain assets used in connection with the division’s sales, marketing and engineering group located in Hayes Lemmerz’ headquarters in Michigan, USA.

The facilities in Homer and Apodaca manufacture brake rotors and drums for the North American passenger car and light truck markets. The division in total employs approximately 250 people, including 64 technical associates, and in 2006 earned annual sales of approximately $ 120 million.

“We have built a strong business with a solid reputation for quality products, delivery and performance,” said Daniel Sandberg, president of Hayes Lemmerz’ Automotive Components Group. “Combining this business with an international, technically dynamic brake company like Brembo will better position the combined company to grow and compete in the global market. Our brake teams in Homer, Apodaca and Northville look forward to leveraging our shared commitment to superior customer service, product innovation and technology.”