An automobile brakes manufacturer is investing $100 million to construct a new cast-iron foundry near its Albion Township plant and create 250 jobs.
Brembo North America announced Tuesday, July 22, that construction of the new facility is expected to start next year and be completed in 2017.
This project is in addition to the $115 million that the Italian company announced in May at the plant, 29991 E. M-60, further meeting high demand from sports and luxury vehicle brands and Detroit’s Big Three.
The newest investment will reinforce the link between Brembo and the United States, one of the most important automotive markets in the world, said Brembo Chairman Alberto Bombassei.
“The increasing number of global platforms being built by vehicle manufacturers prompts us to seek the best possible integration between the different stages of the value chain, replicating the integrated production model that we have adopted for some time now in our facilities in Italy, and recently in Poland and China,” Bombassei said in a statement.
The foundry, along with engineering and technical offices and warehouse space, will cover about 300,000 square feet. Most of the 250 jobs will be at the foundry, while others will be created at Brembo’s Research & Development and headquarters in Plymouth.
The high-performance brake systems manufacturer currently has about 450 employees at the Albion Township plant, up from 110 in 2007.
The investment will be supported in part by incentives from the state and Michigan Economic Development Corp.
Brembo has been awarded a $2 million Michigan Business Development Program performance-based grant, and will receive $1.5 million in Community Development Block Grant funds for job training, the Michigan Economic Development Corp. announced Tuesday.
Brembo has an extensive client list that includes sports and luxury companies Ferrari, Porsche, Corvette and Mercedes, as well as some other mainstream carmakers: Chrysler, Chevrolet, Ford, General Motors and Fiat.
In 2007, Brembo bought the Hayes-Lemmerz Automotive Brake Component Division, which included facilities in Homer and Mexico.
The company operates in 16 countries with 22 business sites and about 7,600 employees worldwide. About 10 percent of those employees are engineers and product specialists in the research and development field.
Source: Mlive.com
