/ Asahi/July 25, 2022Guangzhou -- The joint venture will establish the first large-scale Brebo manufacturing plant dedicated to producing innovative aftermarket brake pad products on July 25, Brebo and Golden Qilin entered into a cooperation agreement to form a new 50/50 joint venture, Shandong Boqilin Friction Materials Technology Co., LTD. (in accordance with local and antitrust practices), to create the first large-scale Brebo manufacturing facility dedicated to the production of innovative aftermarket brake pad products. The newly formed company will combine Brebo's leading edge in braking systems with Golden Kirin's high-tech friction solutions to focus on superior product quality and innovation, especially in performance, comfort, durability and sustainability, aiming to meet the challenges of electrification and autonomous driving. The joint venture will take advantage of new opportunities presented by the growing market to serve segments such as passenger cars, light commercial vehicles and heavy trucks. In fact, there were about 1.23 billion cars on the planet in 2020, and that number is expected to grow by more than 10 percent by 2026 and more than 18 percent by 2030, to about 1.46 billion, Brebo predicts, based on IHS Markit data. The share of older vehicles is also expected to increase as older vehicles are more likely to require maintenance and replacement parts, which is bound to have a significant impact on the aftermarket segment.
Mr. Bogdan Bereanda (left), Chairman and CEO of Brebo China, and Mr. Sun Peng (right), Chairman and President of Shandong Jinqilin Co., LTD. "We have established a strategic and long-term partnership with a leader in high-tech brake friction products to further enhance the vertical integration of our solutions. " Roberto Caravati, Chief Operating Officer of Brebo Aftermarket, said, "With this joint venture, Brebo will enjoy a stronger position in the aftermarket segment to capture new opportunities through the development of more effective brake pads, in line with our mission as a solution provider. All of this will benefit our partners along the value chain, as well as all car enthusiasts who choose our brand for high quality and performance." "We are very pleased to enter into a partnership with Brebo, a company with unparalleled experience in the global braking system sector." Sun Peng, President of Jinkirin, said, "Combined with our industrial and technical expertise, we are committed to building a successful and long-term business together. Equipped with dedicated facilities and teams, the new company will focus on product innovation with the ultimate goal of providing market leading solutions to our customers." Shandong Bo Qilin Friction Material Technology Co LTD is expected to open in Jinan, capital of East China's Shandong province, in early 2023. The combined investment between the two companies over the next three years is about 35 million euros. < / p > < p > < b > about Mr. Bo < / b > < / p > < p > Mr. Bo is a worldwide leader in the automotive brake technology innovators and recognized. Brebo supplies high performance braking systems, racing clutches and other components to the world's leading automotive, commercial vehicle and motorcycle manufacturers. Brebo was one of the best in racing, winning more than 500 world championships. Currently, the company operates in 15 countries on 3 continents, has 29 manufacturing facilities and commercial facilities, and employs more than 12,200 employees, about 10% of whom are engineers and product experts in the field of research and development. Turnover in 2021 was €2,777.6 million (as at 31 December 2021). Brembo is the owner of the brands Brembo, AP, AP Racing, Breco, Bybre, J. uan, Marchesini and SBS Friction.< p>
< p>
Shandong Golden Qilin Co., Ltd. is a national leading high-tech enterprise engaged in the design, testing, manufacturing and sales of friction materials and braking products. The company was listed on the Shanghai Stock Exchange on April 6, 2017. Braking systems and accessories for original and aftermarket passenger cars, motorcycles, commercial vehicles, trains and high performance braking. At present, the company can produce more than 6,000 brake pad varieties, more than 4,300 brake disc varieties, suitable for the world's mainstream passenger car models and most commercial vehicle models. The turnover in 2021 was 1.393 billion Yuan (as of December 31, 2021).
