The European Commission Thursday cleared German manufacturer of carbon products SGL Carbon SE (SGL.XE) and Italian car brakes maker Brembo SpA (BRE.MI) to create a joint venture producing carbon ceramic brakes for the car industry.

The new company, Brembo Ceramic Brake Systems SpA, will combine the expertise from the parent companies: carbon fiber material know-how from SGL Group and high-end brake application competence, also in carbon ceramic, from Brembo.

-By Peppi Kiviniemi, Dow Jones Newswires; +32 (0)2 741 1483; peppi.kiviniemi@dowjones.com
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