MILAN (Reuters) -- Italian brakes manufacturer Brembo will build a new foundry in Michigan to expand its manufacturing capability in the United States.
Brembo, which counts General Motors, Fiat Chrysler Automobiles, BMW Group, Ford Motor Co. and Daimler among its clients in the United States, plans to invest 74 million euros ($99.6 million) to build a foundry with capacity for up to 80,000 tons a year of brake disc castings, it said today.
The foundry will supply the company's existing Homer facilities in Michigan, where the castings are made into finished products.
"[The] new foundry in Michigan reinforces the company's commitment to the North American market, which has grown substantially over the past five years and is slated to become Brembo's No. 1 geographic market by the end of 2014," the company said.