Brembo SpA and DaimlerChrysler AG Establish Ceramic Brake Venture

Representatives of Brembo SpA and DaimlerChrysler AG signed a contract for the establishment of a joint venture Tuesday, which will become effective on January 22, 2004. 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 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.