Up for sale

But BMW board director Prof Werner Saemann emphasised that while his company was in talks with several leading international companies, there is no pressure to complete the deal.

"We are in no hurry to sell this business," said Prof Saemann, also a former chief executive officer of Rover Group .

"Its capacity is being well used and there is no need to hurry or rush into anything."

He added: "One of the firms we are in talks with about the Swindon site is the bus and truck maker Mayflower.

"A supplier company as a new owner could broaden the business base for the plant and therefore, as we see it, it means a brighter future for Swindon Pressings and its workforce."

He also confirmed that the BMW's Birmingham-based Longbridge engine, gearbox and foundry businesses, collectively called Powertrain, was up for sale.

The car assembly site at Longbridge was sold to the Phoenix consortium, parent company of MG Rover earlier this year.

BMW spokesman Werner Rothfus said that Powertrain was no longer of strategic importance to the company, as was the case with Swindon Pressings.

Seventy five per cent of the Swindon plant's output goes to MG Rover, about 20 per cent to Land Rover for the Freelander and the balance for BMW's new MINI.

No price had been put on either the Swindon or Longbridge plants.

Mr Rothfus said: "It has been known for some time that we are in talks with several international suppliers on the possibility of them buying the plant."