April 24, 2020 / 5:36 AM / a month ago

Italy companies at risk if supply chain does not restart next week - Brembo exec to paper

MILAN, April 24 (Reuters) - Italy’s companies will be put at risk if the supply chain does not re-start next week from the lockdown put in place to mitigate the spread of the coronavirus, chairman of brakes maker Brembo said.

“If the Italian supply chain does not return to operation next week, albeit at a slower pace than normal, and does not hook up to the German train, which in the meantime will have restarted completely, the future of our companies will be put at risk,” Alberto Bombassei told daily Il Sole 24 Ore on Friday in an interview.

The chairman added that Brembo, which supplies brakes to premium brands such as Ferrari, Tesla, BMW and Mercedes as well as several Formula 1 teams, was solid industrially and financially and would persevere in its consolidation and expansion projects.

“We have been looking for opportunities in the two segments of high value-added services and artificial intelligence for a year. Less so in that of products,” he said. (Reporting by Agnieszka Flak)

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