July 28, 2016 / 2:15 PM / 2 years ago

Italy's Brembo sees sales growing up to 9.5 pct this yr

MILAN, July 28 (Reuters) - Italian brakes maker Brembo is expecting sales to grow 9-9.5 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, its deputy chairman said on Thursday.

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, Matteo Tiraboschi told Reuters.

The manager 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. (Reporting by Agnieszka Flak and Stefano Rebaudo; editing by Francesca Landini)

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