Bosch PH ‘fastest-growing’ in SEA
MANILA – Bosch, a global supplier of technology and services, closed its 2014 fiscal year with $42.5 million in consolidated sales in the Philippines.
Compared to the year before, the company achieved a double-digit growth of more than 45 percent, making the Philippines the fastest growing market for Bosch in Southeast Asia. The strong growth is based on the successful performance of the company’s power tools and automotive businesses, along with significant contributions from its security systems business, which formally established local operations in 2014. As of April 2015, Bosch had increased its workforce in the Philippines to nearly 400 associates.
“As we celebrate the 20th anniversary of our office in Manila, Bosch remains strongly committed to the Philippine market through continued product and service diversification, employment growth, compelling social and sustainability programs, trainings, and partnerships,” said Andrew Powell, managing director of Bosch in the Philippines.
“For 2015, we expect further sales growth in the country based on an in- creased demand for our innovative products ‘invented for life’,” Powell added.
Recognized as the Philippines’ most competitive city and dubbed by the United Nations as one of nine ‘Emerging Cities of Tomorrow’, Cagayan de Oro is earmarked as the third Bosch business-hub location outside of Metro Manila, set to open before the end of the year. The up-and-coming city provides easy access to a large concentration of markets in Northern Mindanao, including mining and energy.
In 2013, Bosch expanded its operations into Visayas and Mindanao with the opening of its Cebu and Davao business hubs.
Buoyed by robust investments in the property development market, Bosch´s consumer goods business sector achieved its eighth consecutive year of double-digit growth in the Philippines. To tap on the country’s growing DIY market, a new line of rotary tools was introduced in 2014 under the Dremel brand.
The mobility solutions business sector, formerly known as automotive technology, experienced a double-digit sales increase in the Philippines compared to the year before. The sector expanded its distribution network and broadened its product portfolio in the country to include gasoline systems components and batteries. In addition,the number of Bosch Car Service and Diesel Centers has been increased to a total of 40 workshops over the course of the year.