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Lohr , Germany / Cixi, China. Bosch Rexroth is set to acquire a majority stake in Zhejiang Easun Pneumatic Technology Co. Ltd. (Easun), based in Cixi, China. The purchase agreement was signed on June 30 in Cixi. Both parties have agreed not to disclose the purchase price. The acquisition is subject to approval by the authorities.
Easun is one of the leading pneumatics companies in China. Under the brand name Easun, it develops, produces and sells pneumatic cylinders, valves, maintenance units and accessories for the local market. The Chinese pneumatics specialist employs around 900 people.
"With this acquisition, we are strengthening our position in the growing Chinese pneumatics market and offering an extended pneumatics range that is specially tailored to the requirements of Chinese customers," explains
Dr. Albert Hieronimus, Chairman of the Executive Board of Bosch Rexroth AG. "The move is a continuation of our ongoing strategy of regionalization," adds Hieronimus.
Bosch Rexroth has been represented by its own companies in China since the 1970s, offering its customers the complete range of drive and control products and manufacturing at three locations. In 2007, Bosch Rexroth generated sales of around 350 million euro s in Ch ina (mainland and Hong Kong) w ith a workforce of more than 2000 associates. In 2007, the Bosch Group as a whole achieved consolidated sales of around 1.8 billion euro s in China and employed close to 17 ,000 associates.
About Bosch Rexroth
Bosch Rexroth AG is one of the world’s leading specialists in the field of drive and control technologies. Under the brand name of Rexroth the company supplies more than 500,000 customers with tailored solutions for driving, controlling and moving machinery used in industrial and factory automation as well as in mobile applications. As The Drive & Control Company, Bosch Rexroth develops, produces and sells components and systems in more than 80 countries. In 2007 Bosch Rexroth AG, part of the Bosch Group, achieved sales of about 5.4 billion Euro with approximately 33,000 employees.
For more information please visit:
www.boschrexroth.com
About Bosch in China
Bosch founded its first trading office in China as early as 1909. In 1926, the first car service workshop opened in Shanghai. Today, all Bosch business sectors are present in China: Automotive Technology, Industrial Technology and Consumer Goods and Building Technology. The company operates 37 legal entities in China and has a holding company in Shanghai. Consolidated sales in China reached 1.8 billion euros in 2007. By the end of 2007, Bosch had invested around 1 billion euros in China, and between 2008 and 2010 it will invest a further 850 million euros. Some 17,000 Bosch associates are committed to bringing to Chinese customers the latest technology as well as the most reliable services to help improve their quality of life.
About the Bosch Group
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, more than 270,000 associates generated sales of over 46 billion euros in fiscal 2007. The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiary and regional companies in some 50 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Bosch spends more than three billion euros each year for research and development, and in 2007 applied for over 3,300 patents worldwide. The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.”
For more information on Bosch Group, please visit http://www.bosch.com.cn
For further details please contact:
News sourc: Bosch China
Publish date: July 2008
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