Brembo purchases remaining 50% of KBX
Brembo S.p.A. has signed an agreement with Bosch Chassis Systems India Ltd. to purchase the remaining 50% of KBX Motorbike Products Private Ltd. based in Pune, India. Until the agreement, it was a 50-50 joint venture.
The price was 10.7 million euros. 2008 expected sales are 17 million euros, and the expected EBIT is 1.5 million euros. KBX has no financial debt.
KBX has about 220 associates in the Pune plant. It holds a 50% market share of motorbike brake systems manufactured in India and its main clients are such local and international companies as Honda Motor Co. Inc., Yamaha Corp., Suzuki Motor Corp. and Royal Henfield.
"The acquisition is another important step for the growth of Brembo in a fast-growing market; Brembo will continue to search for further development opportunities also in other segments of its core business," says Alberto Bombassei, chairman of Brembo S.p.A.