FRANKFURT, June 1 (Reuters) - German automotive parts supplier Bosch said on Thursday it was buying Albertini Cesare, an Italian subcontractor specialised in manufacturing aluminium 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, 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 added.
BMW said this week that a shortage of steering components supplied by Robert Bosch slowed production of several compact and mid-sized BMW models and caused stoppages at its plants in South Africa and China.
The production problems at BMW have been resolved.
Writing by Edward Taylor; Editing by Edmund Blair