The Bosch Group ‘s is selling its foundation brakes business in North America to Akebono Brake Industry.
Agreements to this effect have been signed in New York City. The planned takeover includes the business with products such as brake calipers, disc brakes, and drum brakes. The total sales volume involved comes to US$580 million in 2009.
The deal does not affect Bosch activities in the field of brake boosters and commercial vehicles, nor does it affect the ESP and ABS business of the Chassis Systems Control division or the aftermarket business with friction and brake components.
“In selling our North American foundation brakes business to Akebono, we have found an experienced, internationally active, and strategically oriented brake manufacturer,” said Bernd Bohr, the Bosch board of management member responsible for the automotive technology business sector. The plan is to transfer manufacturing sites in Clarksville (TN) and Columbia (SC), as well as certain assets and administrative functions currently located in six further North American locations, to Akebono.
Bosch had announced its intention to reorient its brake business as early as its annual press conference in spring 2009.
The company will continue to carry out its own restructuring which includes the potential closure of the manufacturing site in Johnson City, Tenn., as well as the closure of Knoxville, Tenn., as previously announced.