The Bosch Group is in talks to sell a substantive portion of its North American brake component business to Japan's Akebono Brake Corp.
Negotiations are continuing after Akebono submitted a final proposal to buy Bosch's foundation brake business, which includes corner modules, drums and other components, according to Beck MacDonald, a Bosch spokesman in suburban Detroit.
Bosch's anti-lock brake and electronic brake systems assets are excluded from the purchase, MacDonald said, who declined to disclose additional terms of the deal.
The sale of the brake assets would affect about 300 Bosch employees in Michigan at the company's North American headquarters and a manufacturing plant in St. Joseph, Mich. About 2,700 employees companywide would be affected by the sale.
Bosch posted revenue of about $5.3 billion in North America from auto parts sales in 2008. The company does not break out revenue figures by business unit.
Bosch Group is a unit of German supplier Robert Bosch GmbH, which ranks No. 1 on the Automotive News list of the top 100 global suppliers with estimated worldwide sales to automakers of $39.90 billion in 2008.