Bosch to invest another Rs850 crore in India
07 Dec 2007
Mumbai: Global auto components maker Bosch has planned a fresh investment of Rs850 crore in India continues to grow in India, keeping pace with its rising sales in the country.
The group expects its sales in India to increase by about 20 per cent in 2007, to nearly Rs4700 crore. Including exports, sales of the Bosch Group companies in India will exceed Rs5700 crore.
"India''s dynamic growth is clearly reflected in our company''s performance," said Dr.Bernd Bohr, member of the Bosch board of management and chairman of the automotive group, at a press conference in Mumbai, today.
Bosch says it will also add another 10 per cent to its employee strength, taking the count in India to 18,000 in early 2008.
"Our response to India''s strong economic growth and increasing motorisation is to expand local development and manufacturing,” Bohr said. “Our main focus here is on technologies for environmental protection and accident prevention.”
From 2005 to 2008, the company will have invested more than Rs1800 crore in the country, and an additional Rs850 crore will be invested by 2010. Apart from the
expansion of common rail diesel production, this money will also be invested in the manufacturing of gasoline systems components from 2008.
Moreover, it plans to start local ABS production at the end of 2008, and the production of electronic control units in 2009.
In the future, Bosch will continue to enhance its commitment to India through its local companies. Last year the cGroup had announced several investment plans in the country (See: Bosch Group to commit large investments in CRDi unit)
The Group is also planning a standardised branding for its various affiliated companies in the country; the directors of its Indian subsidiary, Motor Industries Company Ltd. (Mico), where Bosch holds nearly 70 per cent stake today decided to change its name to Bosch Limited.
Mico’s management team will also undergo a change with Dr. Albert Hieronimus, who has headed Mico for the last four years as managing director, becoming chairman of the board of management of Bosch Rexroth AG from 1 February 2008. At the same time, Dr Hieronimus will take over as chairman of the board of directors of Mico from
outgoing chairman Hubert Zimmerer.
V K Viswanathan, joint managing director of Mico and a member of the board of directors, will take over as the new managing director from 1 February 2008, while Dr Manfred Duernholz, senior vice president, advanced engineering in the Diesel Systems division at Bosch, Germany, will join the Mico management team as joint managing director and will be responsible for product area power team.
