News Snapshot:
MILAN : Brembo could consider expanding its investment in a newly announced joint venture in China with Gold Phoenix, its executive chairman told Reuters after the Italian brakes maker posted a 13 per cent rise in first-half core earnings. Brembo this week said it and Gold Phoenix had agreed to create a 50/50 JV to build in China Brembo's first large scale facility fully dedicated to producing pads for the aftermarket, with an overall investment of about 35 million euros over the next three years. Brembo's Matteo Tiraboschi said that the market was "potentially huge". "It might be that we...
