FRANKFURT -- German supplier Robert Bosch is buying Albertini Cesare, an Italian subcontractor specialized in manufacturing aluminum casings for steering components that was responsible for production halts at BMW earlier this week.
"The sales process has been initiated but not yet completed," a Bosch spokeswoman said on Thursday, adding that the Italian company was family owned and had 350 employees.
Bosch declined to put a value on the transaction. "For us it is important to secure a reliable supply of components with this takeover," the spokeswoman said.
The shortage of components slowed production of BMW's 1- and 2-series compacts, 4-series coupe and 3 series at plants in Germany, China and South Africa.
The production problems at BMW have been resolved.