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Brembo will take 100 per cent possession of SBS Friction A/S, which makes the SBS line of brake pads for bikes.
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Italian brake model Brembo is buying Danish model SBS Friction A/S
Italian brake producer Brembo has acquired Danish model SBS Friction A/S, which manufactures the SBS line of brake pads. With the takeover, Brembo could have 100 per cent possession of the Danish firm, which develops and manufactures sintered and natural materials brake pads for bikes. The settlement is that Brembo pays an quantity of 224 million Danish Kroner, equal to roughly 30 million Euros (round ₹ 267 crore), which will probably be paid utilizing obtainable money, and the settlement is anticipated to be finalised within the first quarter of 2021. SBS Friction A/S is valued at 300 million Danish Kroner, equal to about 40.three million Euros ( ₹ 358 crore).
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“We are particularly glad to welcome SBS Friction in our Group”, acknowledged Alberto Bombassei, Chairman of Brembo. “Despite the highly complex market context, Brembo has maintained its natural propensity to invest in innovation. This acquisition is an important step in our strategy: it enables us to integrate even more specific competences in a key sector, to further strengthen our range of ‘made-in-Brembo’ solutions for the benefit of our customers.”
“Brembo has long been a trustworthy partner that knows the value of SBS Friction’s technological knowhow and its strong niche position”, acknowledged Peter Eriksen Jensen, Chairman of SBS Group. “We are pleased that SBS Friction will get a strong, long-term, industrial owner who will support the company’s continued development. The transaction is a good solution for SBS Group, SBS Friction, the employees, and the city of Svendborg.”
Also Read: Pirelli CEO Slams Brakes On Talk Of Brembo Merger
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SBS employs practically 200 individuals in its headquarters, but it surely’s nonetheless not clear if the SBS model will proceed to stay, as a subsidiary of Brembo, or if the corporate’s merchandise will probably be rebadged as Brembo in future.
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