BERLIN (AP) -- Auto parts maker Robert Bosch GmbH said Thursday that it is selling part of its North American brakes business to Akebono Brake Industry of Japan.
Bosch said agreements on the sale of the foundations brakes business were signed in New York, but gave no financial details of the deal.
It said that the deal covers products such as brake calipers, disk brakes and drum brakes, and that the business being sold has total expected sales this year of $580 million.
"In selling our North American foundation brakes business to Akebono, we have found an experienced, internationally active, and strategically oriented brake manufacturer," Bosch board member Bernd Bohr said in a statement.
Stuttgart-based Bosch said it plans to transfer to Akebono manufacturing sites in Clarksville, Tennessee, and Columbia, South Carolina -- "as well as certain assets and administrative functions currently located in six further North American locations."