June 7, 2018 / 4:39 PM / a year ago

Bosch might sell packaging technology unit: FAZ

FILE PHOTO: The Bosch logo is reflected in a semiconductor wafer in the company manufacturing base in Reutlingen, Germany, June 16, 2017. REUTERS/Michaela Rehle/File Photo

FRANKFURT (Reuters) - German automotive supplier Bosch might sell its struggling packaging technology unit, newspaper Frankfurter Allgemeine Zeitung reported, citing financial and industry sources.

Management is currently exploring options for the unit, which made 1.3 billion euros ($1.5 billion) in sales in 2016 and is facing stiff competition from Asia, the paper said, adding that included a potential disposal.

No advisers have been mandated at this stage, the paper said.

A spokeswoman for Bosch said the company would not comment on market speculation.

Reporting by Christoph Steitz; Editing by Elaine Hardcastle

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