MILAN -- Italian brakes supplier Brembo is expecting sales to grow 9 percent to 9.5 percent this year, slightly below the 10.4 percent posted in the first six months, as it starts operations at two new plants in North America.
The ramp up at the new facilities is also expected to slightly dampen profitability, with Brembo's EBITDA margin for the whole year seen at close to 18 percent, compared with 19.8 percent recorded in the first half, Deputy Chairman Matteo Tiraboschi told Reuters on Thursday.
Bremo said first-half earnings before interest and tax rose 43 percent to 173 million euros.
Tiraboschi said the company was looking at various acquisition options in the aerospace sector and was ready to invest if the right target was found.
He added no bond issues were planned given the company had easy access to bank lending if needed.
Tiraboschi said he did not expect any negative impact on the company from Britain's vote to leave the European Union and added he does not see the U.S. auto market peaking this year as feared by many.
Brembo started operations at a new cast iron foundry in Homer, Michigan, in April. A new foundry and production plant for aluminum calipers in Escobedo, Mexico, started initial production.
Automotive News Europe contributed to this report