. This deal stands as the largest in Brembo's corporate history, marking a monumental milestone as the company expands its portfolio. Öhlins Racing, known for its premium suspension technology, is a major player in various global racing championships, including MotoGP, Formula 1, Superbike, and NASCAR.
Brembo's acquisition aligns perfectly with its ambition to expand into new markets and improve its product lineup. By incorporating Öhlins into its umbrella, Brembo aims to solidify its status as a comprehensive provider of automotive parts, capitalizing on emerging trends in mobility. Matteo Tiraboschi, Brembo's Executive Chairman, highlighted the seamless fit between the two entities.
This acquisition, valued at USD 405 million , will be paid with available cash and is set to close in early 2025, pending regulatory approvals. Jim Voss, CEO of Tenneco, the parent company of Öhlins, explained the transaction's alignment: Öhlins Racing brings a rich heritage of motorsport excellence to Brembo, with a solid track record of success across major racing platforms. Their ambition of developing the next generation of mechatronic suspension technology complements Brembo's dedication to digital and sustainable innovations. Tom Wittenschlaeger, CEO of Öhlins Racing, expressed optimism about the future under Brembo's aegis.
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Royals Veteran Trade Acquisition Makes Rehab Start, Could Return SoonA Kansas City Royals starting pitcher, acquired to add depth at the trade deadline, could be back in the rotation soon.
Source: SInow - 🏆 273. / 63 Read more »
Source: Crypto_Potato - 🏆 568. / 51 Read more »