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Sunday, May 21, 2006

Bosch invests 160 million dollars in Chinese factories

Written by: S.M.Mehdi Hassan
Last Friday, German Automotive supplying company Bosch has revealed a plan to invest 160 million euros (US$203million) into two of its Chinese plants in Changsha and Suzohu by 2008. Bosch, which is now world’s top automotive parts supplier has all its manufacturing plants situated in China and the present goal of investment is to increase the production capacity of the two plants. The company will invest60 million euros in Changsha, its largest investment in central China. In future Changsha will become the main centre of the companies Engergy and Body System Division. The report published in Automotive Spectator says, “In Changsha, Bosch will be spending roughly 60 million euros between now and 2008, in order to create new facilities for the development and manufacture of products such as starters and alternators. Following the extension work, the site will have doubled in size to more than 210,000 square meters.” On the other hand, the company will invest 100 million euros (US$127) in Suzohu within 2008. As a result of the expansion the company’s workforce will grow from 160 to 2000. The company bosses said that they are actually planning to invest a total of 620 million euros (US$ 787) by the next two years. Until 2005 Bosch invested around 620 million euros (787 million US dollars) in its Chinese plants. The number of its manufacturing facilities has increased from 10 to 20 and last year the company sold products worth 1.2 billion euros in China which is 15% more than its previous year’s sales. Rudolf Colm, Bosch board member said, “Presently China accounts for three percent of our global market. Our target is to increase that to five percent by 2008." He also said that by 2008 China will surpass Japan, becoming the company's largest market in Asia.
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