Bosch aims to double sales in Asia Pacific by 2020
Bosch aims to double sales in Asia Pacific by 2020
Bosch, a leading global supplier of technologies and service, aims to double sales in Asia Pacific by 2020 as the region continues to be a key growth market for the company.
Over the past ten years, the company's sales in Asia Pacific have more than doubled, to some 11 billion euros (US$14.81 billion) in fiscal year 2013.
“By 2020, we aim to double our sales in the region once again,” Peter Tyroller, a member of the Bosch group board of management responsible for Asia Pacific since July 2013, said.
To support its growth and localisation targets, Bosch is investing some 3.3 billion euros (US$4.4 billion) in the region from 2010 to 2014.
“Our investments in the coming years in Asia Pacific will remain at a high level and we will further intensify our localisation efforts,” Tyroller said.
Bosch sees localisation as the key success factor for continuous growth in Asia Pacific, including local manufacturing, product management, engineering and a high share of local supply.
Today, the company is present in 16 countries in Asia Pacific with 120 locations and 52 manufacturing facilities.
As part of Bosch's localisation strategy, human resources will also continue to play a crucial role for further growth in the region.
In 2014, Bosch expects headcount requirements to increase in Asia Pacific where the company currently employs more than 73,000 associates.
By the end of this year, Bosch will have some 45,000 research and development associates worldwide on board. Of these, a good 17,000 will be located in 24 research facilities in Asia Pacific and 2,000 more than at the start of the year.
In Southeast Asia, Bosch has spent the past several years extending its footprint in the region where the company entered the emerging countries of Cambodia, Laos and Myanmar, and expanded its presence in Indonesia, Thailand, Vietnam and the Philippines.
In Laos, Bosch almost doubled its sales in 2013, attributed to exceptional performance by the security systems and power tools business divisions.
Laos is geographically rich in natural resources, with strong potential for mining and hydropower projects that the drive and control business division is well-positioned in the region to serve.
vientiane times
