Robert Bosch GmbH Business Report FY2007
Business Highlights
Financial
overview
1)
-Sales reached 46.3 billion euros, exceeding the previous year's figure by 6 %. The appreciation of the euro, not only against the dollar but also against the yen, had a negative effect on sales figures. Ignoring currency effects, its sales last year increased by a good 8 % and were thus in line with its longer-term growth targets.
-Newly consolidated businesses accounted for roughly 1.4 percentage points of total nominal growth. This was mainly due to the first-time inclusion of a series of acquisitions.
2)
-In Automotive Technology, the return on sales from operations improved from four percent in the previous year to 5.8 percent - and this despite major upfront investments in research and development, which were the equivalent of 10.2 percent of sales in this business sector.
3)
-Automotive Technology sales rose in nominal terms by 4.5 percent to 28.4 billion euros. After adjusting for currency effects, they grew by 6.7 percent.
-Growth was driven primarily by demand for advanced diesel and gasoline injection systems, as well as a rise in the share of vehicles equipped with the Electronic Stability Program ESP(R).
-First-time consolidations, especially of Pacifica and the Beissbarth companies, accounted for around 1.1 percentage points of nominal growth.
-A number of factors contributed to this strong growth. In Europe in particular there was a marked increase in demand for advanced diesel- and gasoline- injection systems that help to reduce fuel consumption and therefore CO2 emissions.
-The proportion of vehicles equipped with the ESP(R) electronic stability program also grew.
-The improvement in business was supported by a healthy order intake from key European customers and strong growth in Asia Pacific, where the Company was building up its business with the rapidly growing Chinese and Indian automobile manufacturers.
-The Company increased its shareholding in the Indian subsidiary Motor Industries Company Limited (Mico) from around 60 % to around 70 %.
-In North America, despite the difficulties faced by major U.S. automotive manufacturers, the Company was also able to increase automotive technology sales expressed in local currency by a good 5 %.
Contracts
-From 2008, the Company supplies Value Motronic engine control system to the "Nano", manufactured by the Indian automaker Tata Motors. The Company will also supply complete brake systems, diesel injection technology, starters, and alternators for this vehicle.
-In August 2007, the Company announced that it has developed the start/stop system to the stage where it is ready for series production and is now working intensively with several automobile manufacturers to set up the production process. Following its use in the BMW 1 series, the start/stop system is also fitted as standard equipment in the majority of the BMW Group's Mini models as from August 2007, and to the new Mini Clubman as from November 2007. The Company supplies this vehicle with starters and common-rail diesel injection technology, both of which have been specially attuned to the start/stop function. (From a press release on August 21, 2007)
-In September 2007, the Company announced that it has been awarded a contract to supply engine control units (ECUs) for gasoline engines employed in mini vehicles; this is the first time for the Company to win ECU business for the mini vehicle market. These ECUs will be supplied from Bosch Corporation of Japan, starting around 2008.(From an article in the Nikkan Jidosha Shimbun on Sep. 19, 2007)
Acquisitions
-In FY2007 the Company acquired the majority shareholding in Pacifica Group Ltd (Melbourne, Australia) and thus strengthened its brakes business in America and Asia. The Pacifica Group is a leading manufacturer of brake calipers, parking brakes, and brake components for the automotive equipment and spare parts business. In 2005, the company generated sales of roughly 480 million euros, and employs some 2,000 associates worldwide. (From a press release on Feb. 23)
-The Company also purchased Beissbarth GmbH (Munich, Germany) and its Italian subsidiary Sicam s.r.l. (Correggio, Italy) from Beissbarth Automotive Group in 2007.
Joint Ventures
-In July 2007, the Company and Denso Corporation have established a fifty-fifty joint venture to develop and manufacture diesel particulate filters in Wroclaw, Poland, based on the agreement announced in October 2006. The new joint venture will be named "Advanced Diesel Particulate Filters Sp.zo.o."(ADIF). The objective is to jointly manufacture highly efficient and cost-effective diesel particulate filters using Cordierite ceramics from 2009. Each company will then market the filters independently. In the first stage, a branch office for the joint venture will be established in Kariya, Japan, to proceed with filter development and production preparation. The joint venture, having an initial equity of 8 million euros, is located in Wroclaw, Poland, where Bosch already has a production plant for braking systems. (From a press release on July 23, 2007)
Outlook
Forecast 2008: Sales growth roughly 5%
Profit before tax: target corridor of 7 to 8% of sales to be retaineds
| (in million euros) | FY2007 | FY2006 | Rate of Change(%) | Factors |
| Overall | ||||
| Sales | 46,320 | 43,684 | 6.0 | 1) |
| Operating Profit | 3,170 | 2,416 | 31.2 | 2) |
| Automotive Technology | ||||
| Sales | 28,449 | 27,220 | 4.5 | 3) |
1)
-Sales reached 46.3 billion euros, exceeding the previous year's figure by 6 %. The appreciation of the euro, not only against the dollar but also against the yen, had a negative effect on sales figures. Ignoring currency effects, its sales last year increased by a good 8 % and were thus in line with its longer-term growth targets.
-Newly consolidated businesses accounted for roughly 1.4 percentage points of total nominal growth. This was mainly due to the first-time inclusion of a series of acquisitions.
2)
-In Automotive Technology, the return on sales from operations improved from four percent in the previous year to 5.8 percent - and this despite major upfront investments in research and development, which were the equivalent of 10.2 percent of sales in this business sector.
3)
-Automotive Technology sales rose in nominal terms by 4.5 percent to 28.4 billion euros. After adjusting for currency effects, they grew by 6.7 percent.
-Growth was driven primarily by demand for advanced diesel and gasoline injection systems, as well as a rise in the share of vehicles equipped with the Electronic Stability Program ESP(R).
-First-time consolidations, especially of Pacifica and the Beissbarth companies, accounted for around 1.1 percentage points of nominal growth.
-A number of factors contributed to this strong growth. In Europe in particular there was a marked increase in demand for advanced diesel- and gasoline- injection systems that help to reduce fuel consumption and therefore CO2 emissions.
-The proportion of vehicles equipped with the ESP(R) electronic stability program also grew.
-The improvement in business was supported by a healthy order intake from key European customers and strong growth in Asia Pacific, where the Company was building up its business with the rapidly growing Chinese and Indian automobile manufacturers.
-The Company increased its shareholding in the Indian subsidiary Motor Industries Company Limited (Mico) from around 60 % to around 70 %.
-In North America, despite the difficulties faced by major U.S. automotive manufacturers, the Company was also able to increase automotive technology sales expressed in local currency by a good 5 %.
Contracts
-From 2008, the Company supplies Value Motronic engine control system to the "Nano", manufactured by the Indian automaker Tata Motors. The Company will also supply complete brake systems, diesel injection technology, starters, and alternators for this vehicle.
-In August 2007, the Company announced that it has developed the start/stop system to the stage where it is ready for series production and is now working intensively with several automobile manufacturers to set up the production process. Following its use in the BMW 1 series, the start/stop system is also fitted as standard equipment in the majority of the BMW Group's Mini models as from August 2007, and to the new Mini Clubman as from November 2007. The Company supplies this vehicle with starters and common-rail diesel injection technology, both of which have been specially attuned to the start/stop function. (From a press release on August 21, 2007)
-In September 2007, the Company announced that it has been awarded a contract to supply engine control units (ECUs) for gasoline engines employed in mini vehicles; this is the first time for the Company to win ECU business for the mini vehicle market. These ECUs will be supplied from Bosch Corporation of Japan, starting around 2008.(From an article in the Nikkan Jidosha Shimbun on Sep. 19, 2007)
Acquisitions
-In FY2007 the Company acquired the majority shareholding in Pacifica Group Ltd (Melbourne, Australia) and thus strengthened its brakes business in America and Asia. The Pacifica Group is a leading manufacturer of brake calipers, parking brakes, and brake components for the automotive equipment and spare parts business. In 2005, the company generated sales of roughly 480 million euros, and employs some 2,000 associates worldwide. (From a press release on Feb. 23)
-The Company also purchased Beissbarth GmbH (Munich, Germany) and its Italian subsidiary Sicam s.r.l. (Correggio, Italy) from Beissbarth Automotive Group in 2007.
Joint Ventures
-In July 2007, the Company and Denso Corporation have established a fifty-fifty joint venture to develop and manufacture diesel particulate filters in Wroclaw, Poland, based on the agreement announced in October 2006. The new joint venture will be named "Advanced Diesel Particulate Filters Sp.zo.o."(ADIF). The objective is to jointly manufacture highly efficient and cost-effective diesel particulate filters using Cordierite ceramics from 2009. Each company will then market the filters independently. In the first stage, a branch office for the joint venture will be established in Kariya, Japan, to proceed with filter development and production preparation. The joint venture, having an initial equity of 8 million euros, is located in Wroclaw, Poland, where Bosch already has a production plant for braking systems. (From a press release on July 23, 2007)
Outlook
Forecast 2008: Sales growth roughly 5%
Profit before tax: target corridor of 7 to 8% of sales to be retaineds
R&D
R&D
Expenditure
-In 2007, the Company spent some 3.6 billion euros, or 7.7 % of sales, on research and development. The Company also registered over 3,280 patents worldwide.
-In 2007, research and development in Automotive Technology was 10.2% of sales in this sector, compared with 10.1% in 2006.
R&D Structure
-Around the world, the Company has more than 29,000 research and development associates. 1,300 of them are employed in the Company's Corporate Research and Advance Engineering sector.
-Of the more than 29,000 researchers and development engineers, 21,000 currently work in Europe, most of them in Germany, 2,500 in the Americas, especially in the U.S., and 3,500 in Asia Pacific, primarily in India, Japan, and China.
New R&D Facilities
-In 2006, the Company decided to set up a new research location in Singapore, which will be inaugurated in 2008.
-In October 2007, the Company completed its new headquarters and expanded its Technical Center in Yongin, Gyeonggi, Korea.(From a press release on Oct. 19, 2007)
-In June 2007, it has opened a new technical center in Plymouth Township , MI (USA).The facility features research and development capabilities, as well as engineering space for its automotive electronics, starter motors and generators, and electrical drives divisions. (From a press release on June 28, 2007)
Product Development
Start-Stop System
-The Company's start-stop system already delivers a cost-effective way to cut fuel consumption in urban traffic by up to 8 %. When the car comes to a stop, this system automatically stops the engine, starting it up again as soon as traffic starts to move. 2007 saw the launch of three models equipped with this technology as standard. The Company supplies the specially adapted starter and engine management systems for this technology. Further projects are being prepared for series production.
New Climate Control Sensor
-In March 2007, the Company announced that it has developed a new Climate Control Sensor (CCS) that monitors the level of carbon dioxide (CO2) in a vehicle's passenger compartment while increasing the efficiency of the air conditioning system. When fresh air is fed into the passenger compartment, the CCS-controlled air conditioning system switches to recirculation mode. This mode saves energy because the amount of power needed for cooling is reduced. Bosch engineers calculate fuel savings of up to 10 percent when the system is operating in maximum cooling mode.(From a press release on Mar. 29, 2007)
Hybrid Drive Systems
-The Company's current work on the basis of lithium-ion technology will help it develop reliable battery packs that give vehicles greater range. Another way to extend the range of electric vehicles is to add a small internal-combustion engine that runs on alternative, environment-friendly fuels. Also on the way are new engine concepts, such as homogeneous charge compression ignition (HCCI) for gasoline engines.
Diesel Technology
-In 2007, the Company launched the first common-rail system to feature an injection pressure of up to 2,000 bar. The Company is also working on injectors with highly dynamic solenoid valves.
Gasoline Engines
-The Company's second-generation gasoline direct injection system can adapt flexibly to different combustion processes and fuels. Optimized cold-start processes allow emission levels to be achieved that are lower than even the most stringent U.S. SULEV (super ultra low emission vehicle) requirements. A further way of achieving greater efficiency is by combining direct injection with turbocharging. This configuration allows engineers to reduce engine displacement while maintaining the same power, thus further cutting fuel consumption and emissions.In 2007, several vehicle manufacturers began producing these engines 窶 using the Company's injection technology. From 2010 onwards, the Company also plans to manufacture and sell exhaust-gas turbochargers co-developed in a joint venture with Mahle GmbH, Stuttgart, Germany.
Alternative-Fuel and Hybrid-Drive Solutions
-The Company has begun series production of various engine management systems and injection components. When equipped with its NG-Motronic system and suitable injection valves, for example, an engine can run on both gasoline and natural gas. When ethanol is used, its Flex-Fuel technology adapts the ignition and controls the amount of fuel injected so that any mix of gasoline and ethanol can be used.
-Many manufacturers worldwide are developing hybrid drives that combine a combustion engine with an electric motor. For this purpose, the Company is developing hybrid concepts comprising engine management systems, suitable electric motors, power electronics, and voltage converters. The Company has already won orders for both gasoline and diesel hybrids.
-The Company is working on thermal management systems that will in future regulate the engine temperature far more precisely, keeping it at optimum operating status. In 2007, the Company started production of a new generation of servomotors and brake boosters that have a decided weight advantage over their predecessors. Additionally, its CO2 sensor will help air-conditioning systems to work much more efficiently in the future, thereby cutting the amount of energy required from the engine.
ESP(R)
-ESP(R) forms a fundamental basis for new functions currently being developed by the Company's engineers. The focus here is on Combined Active and Passive Safety (CAPS) modular safety system. With this system, the Company can further improve accident prevention by combining active and passive safety systems with driver assistance and vehicle communication functions. This results, for example, in predictive safety systems which accident researchers estimate can reduce the number of road deaths by up to 35 %. The Company has now received its first order for Predictive Emergency Brake, which is to be fitted as standard equipment in a luxury-class model from 2009. With this launch, a system will be available in the market that uses multifunctional video and radar sensors, not only to initiate automatic emergency braking in critical traffic situations, but also to operate a lane recognition system that provides the driver with additional support.
-Another system that can be enhanced by networking additional functions is the active steering system developed by the joint venture with ZF Lenksysteme GmbH. In 2007, a further customer began using this technology in its vehicles. In addition to helping drivers park their cars, it can use data from the ESP(R) system to help stabilize the vehicle in the event of sudden steering movements or crosswinds.
PP 33
Denoxtronic
-Denoxtronic is urea metering system for the nitrogen oxide catalytic converter in diesel engines. The Company sold around 400,000 of these units this year, and expect this figure to rise to around 2.6 million in 2012. Of these, about a million will be sold in America - a clear sign that "clean diesel" will also make its mark in the United States. To this end, the Company is working on development projects with U.S. as well as with European and Asian manufacturers. Series production launches based on the strict U.S. standard will begin in 2008 and increase from 2010, not just in the light commercial and sport utility vehicle segments but also in passenger cars. The increasing share of diesel in the U.S. is already reflected in the Company's development projects with customers.
Technological Alliance
-The Company is looking into all aspects of the drivetrain, such as the further development of diesel and gasoline direct injection. This work includes the development of exhaust gas turbochargers. In this area, the Company announced a joint venture with the automotive supplier Mahle GmbH, Stuttgart, Germany, at the start of 2008.
-In July 2007, the signing of an agreement between the Company and STMicroelectronics, a French-Italian semiconductor manufacturer, was announced, in which the Company will obtain license for ST's state-of-the art semiconductor manufacturing technology. This will allow the Company to use the technology in its own wafer fabrication plant to design and manufacture highly integrated automotive products. The signing of the contract means continuation of a 20-year-long partnership between the two companies. The Company will introduce ST's proprietary leading-edged technology "BCD8," which allows analog, digital and power circuits to be integrated on a single chip. The BCD8 introduced in 2006 offers the possibility to produce a complete system, including the micro controller unit or MCU, on a single piece of silicon for the first time. The high level of integration will deliver benefits such as lower cost, increased reliability and more compact packaging. (From an article in the Nikkan Jidosha Shimbun on Jul.12, 2007)
| (in million euros) | FY2007 | FY2006 | FY2005 |
| R&D Expenditure | 3,583 | 3,348 | 3,073 |
| % of Sales | 7.7 | 7.7 | 7.4 |
-In 2007, the Company spent some 3.6 billion euros, or 7.7 % of sales, on research and development. The Company also registered over 3,280 patents worldwide.
-In 2007, research and development in Automotive Technology was 10.2% of sales in this sector, compared with 10.1% in 2006.
R&D Structure
-Around the world, the Company has more than 29,000 research and development associates. 1,300 of them are employed in the Company's Corporate Research and Advance Engineering sector.
-Of the more than 29,000 researchers and development engineers, 21,000 currently work in Europe, most of them in Germany, 2,500 in the Americas, especially in the U.S., and 3,500 in Asia Pacific, primarily in India, Japan, and China.
New R&D Facilities
-In 2006, the Company decided to set up a new research location in Singapore, which will be inaugurated in 2008.
-In October 2007, the Company completed its new headquarters and expanded its Technical Center in Yongin, Gyeonggi, Korea.(From a press release on Oct. 19, 2007)
-In June 2007, it has opened a new technical center in Plymouth Township , MI (USA).The facility features research and development capabilities, as well as engineering space for its automotive electronics, starter motors and generators, and electrical drives divisions. (From a press release on June 28, 2007)
Product Development
Start-Stop System
-The Company's start-stop system already delivers a cost-effective way to cut fuel consumption in urban traffic by up to 8 %. When the car comes to a stop, this system automatically stops the engine, starting it up again as soon as traffic starts to move. 2007 saw the launch of three models equipped with this technology as standard. The Company supplies the specially adapted starter and engine management systems for this technology. Further projects are being prepared for series production.
New Climate Control Sensor
-In March 2007, the Company announced that it has developed a new Climate Control Sensor (CCS) that monitors the level of carbon dioxide (CO2) in a vehicle's passenger compartment while increasing the efficiency of the air conditioning system. When fresh air is fed into the passenger compartment, the CCS-controlled air conditioning system switches to recirculation mode. This mode saves energy because the amount of power needed for cooling is reduced. Bosch engineers calculate fuel savings of up to 10 percent when the system is operating in maximum cooling mode.(From a press release on Mar. 29, 2007)
Hybrid Drive Systems
-The Company's current work on the basis of lithium-ion technology will help it develop reliable battery packs that give vehicles greater range. Another way to extend the range of electric vehicles is to add a small internal-combustion engine that runs on alternative, environment-friendly fuels. Also on the way are new engine concepts, such as homogeneous charge compression ignition (HCCI) for gasoline engines.
Diesel Technology
-In 2007, the Company launched the first common-rail system to feature an injection pressure of up to 2,000 bar. The Company is also working on injectors with highly dynamic solenoid valves.
Gasoline Engines
-The Company's second-generation gasoline direct injection system can adapt flexibly to different combustion processes and fuels. Optimized cold-start processes allow emission levels to be achieved that are lower than even the most stringent U.S. SULEV (super ultra low emission vehicle) requirements. A further way of achieving greater efficiency is by combining direct injection with turbocharging. This configuration allows engineers to reduce engine displacement while maintaining the same power, thus further cutting fuel consumption and emissions.In 2007, several vehicle manufacturers began producing these engines 窶 using the Company's injection technology. From 2010 onwards, the Company also plans to manufacture and sell exhaust-gas turbochargers co-developed in a joint venture with Mahle GmbH, Stuttgart, Germany.
Alternative-Fuel and Hybrid-Drive Solutions
-The Company has begun series production of various engine management systems and injection components. When equipped with its NG-Motronic system and suitable injection valves, for example, an engine can run on both gasoline and natural gas. When ethanol is used, its Flex-Fuel technology adapts the ignition and controls the amount of fuel injected so that any mix of gasoline and ethanol can be used.
-Many manufacturers worldwide are developing hybrid drives that combine a combustion engine with an electric motor. For this purpose, the Company is developing hybrid concepts comprising engine management systems, suitable electric motors, power electronics, and voltage converters. The Company has already won orders for both gasoline and diesel hybrids.
-The Company is working on thermal management systems that will in future regulate the engine temperature far more precisely, keeping it at optimum operating status. In 2007, the Company started production of a new generation of servomotors and brake boosters that have a decided weight advantage over their predecessors. Additionally, its CO2 sensor will help air-conditioning systems to work much more efficiently in the future, thereby cutting the amount of energy required from the engine.
ESP(R)
-ESP(R) forms a fundamental basis for new functions currently being developed by the Company's engineers. The focus here is on Combined Active and Passive Safety (CAPS) modular safety system. With this system, the Company can further improve accident prevention by combining active and passive safety systems with driver assistance and vehicle communication functions. This results, for example, in predictive safety systems which accident researchers estimate can reduce the number of road deaths by up to 35 %. The Company has now received its first order for Predictive Emergency Brake, which is to be fitted as standard equipment in a luxury-class model from 2009. With this launch, a system will be available in the market that uses multifunctional video and radar sensors, not only to initiate automatic emergency braking in critical traffic situations, but also to operate a lane recognition system that provides the driver with additional support.
-Another system that can be enhanced by networking additional functions is the active steering system developed by the joint venture with ZF Lenksysteme GmbH. In 2007, a further customer began using this technology in its vehicles. In addition to helping drivers park their cars, it can use data from the ESP(R) system to help stabilize the vehicle in the event of sudden steering movements or crosswinds.
PP 33
Denoxtronic
-Denoxtronic is urea metering system for the nitrogen oxide catalytic converter in diesel engines. The Company sold around 400,000 of these units this year, and expect this figure to rise to around 2.6 million in 2012. Of these, about a million will be sold in America - a clear sign that "clean diesel" will also make its mark in the United States. To this end, the Company is working on development projects with U.S. as well as with European and Asian manufacturers. Series production launches based on the strict U.S. standard will begin in 2008 and increase from 2010, not just in the light commercial and sport utility vehicle segments but also in passenger cars. The increasing share of diesel in the U.S. is already reflected in the Company's development projects with customers.
Technological Alliance
-The Company is looking into all aspects of the drivetrain, such as the further development of diesel and gasoline direct injection. This work includes the development of exhaust gas turbochargers. In this area, the Company announced a joint venture with the automotive supplier Mahle GmbH, Stuttgart, Germany, at the start of 2008.
-In July 2007, the signing of an agreement between the Company and STMicroelectronics, a French-Italian semiconductor manufacturer, was announced, in which the Company will obtain license for ST's state-of-the art semiconductor manufacturing technology. This will allow the Company to use the technology in its own wafer fabrication plant to design and manufacture highly integrated automotive products. The signing of the contract means continuation of a 20-year-long partnership between the two companies. The Company will introduce ST's proprietary leading-edged technology "BCD8," which allows analog, digital and power circuits to be integrated on a single chip. The BCD8 introduced in 2006 offers the possibility to produce a complete system, including the micro controller unit or MCU, on a single piece of silicon for the first time. The high level of integration will deliver benefits such as lower cost, increased reliability and more compact packaging. (From an article in the Nikkan Jidosha Shimbun on Jul.12, 2007)
Investment Activities
| (in million euros) | FY2007 | FY2006 | FY2005 |
| Investment (in property, plant and equipment) |
2,634 | 2,670 | 2,923 |
Automotive Technology
-Automotive technology accounted for around two-thirds of this capital expenditure in 2007. One major project is the new semiconductor factory for eightinch wafers in Reutlingen, Germany, in which the Company will invest a total of 600 million euros. The Company is also investing heavily in further expanding its capacity for common-rail diesel injection technology and gasoline direct injection in Germany, but also in India, China, and Turkey.
Domestic Investments
-The new semiconductor factory in Reutlingen 窶 where the Company will be investing 600 million euros over a period of several years
-60 million euro plus investment project begins in June 2008 to expand its engineering center in Abstatt by 2010.
Overseas Investments by Region
Asia
<India>
-In August 2007, the Company announced the roll out of the first Common Rail Injector at its Nashik facility. This rollout follows the previous announcement by the Company to invest Rs.1800 crores in India between 2005 and 2008. A major part of this investment has been committed to the Common Rail development in India. The Company has been manufacturing injector components for common rail in Nashik since 2006 and having developed indigenous skill and expertise now, is ready to start commercial production of complete rail injectors for both domestic and export markets. Initially it will roll out 100,000 Injectors in 2007, which will touch 3.5 million in 2010. In November 2005, a MoU was signed between the Company and the Maharashtra State Government on Common Rail injectors and expansion of mechanical injectors at the Nashik plant. (From a press release on August 24, 2007)
-The Company is planning to invest a further 170m euros in India by 2010, in addition to a 325m-euro investment programme between 2005 and 2008. 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 is planned to start local ABS production in Chakan at the end of 2008, and the production of electronic control units in Naganathapura in 2009. The company expects its turnover in India to grow by almost 20 per cent to 815m euros in 2007, while the number of staff employed by the group in India is set to rise by 10% to 18,000. Until now, the Company has been known in India mainly through its subsidiary Motor Industries Company Limited (Mico); the company now plans to rename its Indian subsidiary Bosch Limited.(From a press release on Dec. 6, 2007)
<China>
-Further major investment is planned in China up to 2010: for the Company's Chinese headquarters in Shanghai, for a logistics center in Changsha, and for a winter test track in Inner Mongolia. In addition, its security systems operations have moved to a new plant in Zhuhai. The Company is extending the range of products it manufactures there, as well as the range of control units and diesel systems it manufactures in Suzhou and Wuxi respectively.
<Korea>
-In October 2007, the Company completed its new headquarters and expanded its Technical Center in Yongin, Gyeonggi. The new 10-story building was originally planned with only five stories and now offers more than 25 000 square meters with space for up to 500 associates. The Technical Center with its state of the art automotive testing and application facilities will be the strong backbone of the application work of more than 100 engineers. The investment of 21.7 billion Won (some 18 million euros) in the new headquarters. (From a press release on Oct. 19, 2007)
<Vietnam and Indonesia>
-The Company has acquired the land for a first plant. A regional subsidiary was set up in the spring of 2008 窶 and another one will follow shortly in Indonesia.
<Japan>
-The Company intends to acquire the remaining shares in Bosch Corporation, its Japanese subsidiary.
Americas
<USA>
-In June 2007, it has opened a new technical center in Plymouth Township , MI (USA).The facility features research and development capabilities, as well as engineering space for its automotive electronics, starter motors and generators, and electrical drives divisions. The Plymouth Township Technical Center is supported by more than 60 engineering and technical lab specialists working on development studies, design verification and production validation test plans in the facility's 70,000 sq. ft. test laboratory. Currently, the Company engineers a variety of innovative driver assistance technologies at the Plymouth Township Technical Center, including Intelligent Bolt (iBolt) airbag releasing sensor technology Adaptive cruise control (ACC)Predictive safety systems (PSS). (From a press release on June 28, 2007)
<Brazil>
-The Company is the first automotive supplier to start production of antilock braking systems (ABS) in Brazil. The official go-ahead for series production is given on August 29, 2007 in the Campinas plant near Sao Paulo. The Company has invested approximately ten million euros in installing an ABS production line at the plant. The Company employs some 13,700 associates in its Brazilian subsidiaries and affiliated companies and generated sales of 1.1 billion euros on the Brazilian market in 2006. (From a press release on August 29, 2007)