14th October 2009 - Brembo and Hitachi Chemical Jointly Develop Innovative Disc Brake Pads for High Performance Passengers Cars

Hitachi Chemical Co., Ltd. (Head Office: Shinjuku-ku, Tokyo, Japan; President and CEO: Kazuyuki Tanaka; hereafter "Hitachi Chemical") and Brembo S.p.A. (Head Office: Stezzano, Italy; President and CEO: Alberto Bombassei; hereafter "Brembo") have reached Technical Agreement for the production of an innovative family of friction material for high-end passenger cars.

Brembo is a leading brake system manufacturer with the global No. 1 share in the field of high performance and luxury cars, while Hitachi Chemical develops, manufactures, and markets friction materials for automobile brakes, including non-asbestos organic (NAO) disc brake pads. They have been jointly developing NAO disc brake pads with superior wear resistance and excellent comfort level, as an alternative to the low steel material predominantly used in Europe to date.

After two years of successful joint development this material is now close to application on several vehicles for the world-wide markets.

According to the agreement, Hitachi Chemical grants an exclusive license for production and sale of friction material for some of the typical Brembo car applications.

The innovative content relates to the ability of combining two normally opposed tasks: while on one hand to reliably assure performances, at the same time enhancing to a higher level the comfort for the driver and the care for the environment, thanks to a drastic reduction of noise and friction dust.

Brembo - through this agreement with Hitachi Chemical - further enhances its position as the leader in innovation of brake system, after its results with the carbon and the ceramic friction material.

Hitachi Chemical will accelerate expansion of the group’s automotive parts business in the European market, using this partnership with the world-famous Brembo in the high-performance luxury car field as a stepping stone.

About Brembo S.p.A.

Brembo S.p.A. is the world leader and acknowledged innovator of the brake disc technology for automotive vehicles. Brembo supplies high performance brake systems for the most important manufacturers of cars, commercial vehicles and motorbikes worldwide, as well as clutches, seats, seat belts and other components for racing only. Moreover, Brembo is also a leader in the racing sector and has won more than 200 championships. Today the company operates in 14 countries of 3 continents, with 34 production and business sites, and a pool of about 5.800 employees (as of 31/12/08), 8% of whom are engineers and product specialists active in the R&D. 2008 turnover is € 1 billion. Brembo is the owner of the Brembo, Breco, Marchesini, Sabelt brands and operates through AP Racing brand.

About Hitachi Chemical Co., Ltd.

Hitachi Chemical Co., Ltd. headquartered in Tokyo, Japan, is an innovating global chemical company with approximately 15,300 employees on a consolidated basis. Fiscal 2008 (ended March 31, 2009) consolidated sales totaled 488.6 billion yen ($5.0 billion). Hitachi Chemical offers a diverse range of products, including Electronics Related Products and Advanced Performance Products. The Hitachi Chemical Group’s automotive parts business – which has production bases in Japan, China, Thailand and Mexico (under construction) – is stepping up sales efforts around the world. By blending cutting-edge material, added functionality, and processing technologies, will boost the development of the automobile industry by providing various products ranging from eco-friendly materials to molded modules in the auto body, driving system and electric system fields.

Source: Brembo Press Release