Australian Pacifica buys Italian auto brakes maker

Newswire

MELBOURNE, Aug 1 (Reuters) - Australian auto brakes manufacturer Pacifica Group Ltd agreed on Friday to buy Automotive Products Italia SpA from UK-based private equity investors AP Group Ltd for 37.5 million euros ($42 million). The Italian brakes maker, with annual sales of about 45 million euros, gives Pacifica a break into the European market in an effort to ease its dependence on sales to U.S. automakers. AP Brakes, which supplies drum brakes and park brakes to Fiat , Ford and Nissan ...

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