Bosch reports robust growth in 2011 business

Germany-based Robert Bosch Group obtained total revenues of US$220.5 million in Vietnam last year, up 75% from the previous year, mainly resulting from the export of push-belts, the company said yesterday.

Among the six business sectors in Vietnam, the sector of auto spare parts and accessories is the one having the highest sales growth of 160%.

Speaking at the press conference announcing the business results yesterday in HCMC, Vo Quang Hue, general director of Robert Bosch Vietnam Co. Ltd., said that this was the result of the domestic investments and the recruitment of more employees to expand operations in three big cities of Hanoi, Danang and HCMC.

"The firm’s net revenue last year rose by 75% against the previous year; this impressive figure results from a large number of orders the push-belt plant in Long Thanh received," Hue said.

Going into operation last April, the plant will expand its annual capacity from 3.2 to 4.3 million continuously variable transmission (CVT) push-belts, which is a very important component in the automatic gearbox of vehicles.

According to Hue, the other five sectors also grew strongly in Vietnam. Specifically, the sales of the portable electricity devices grew 30%, and that of the security system was 20% thanks to the video system and huge projects such as Danang International Airport and Indochina Plaza in Hanoi.

Regarding the transmission and automation, Bosch has invested US$200,000 to develop a consulting and sales services center for its hydraulic equipment.

"This center will help boost the growth through the equipment supply for some important projects such as hydropower dams or tidal gates," Hue said.

A high growth is also seen in the software and thermal technologies, the two new business sectors of Bosch in Vietnam, especially with the Robert Bosch Engineering & Business Solutions Vietnam located in the e-Town office building.

Officially inaugurated in May last year, this is Bosch's biggest software center in Southeast Asia.

 “We have 200 software engineers, which is a considerable figure after only one year of operation, and we will recruit 500 more engineers until 2015. These engineers will be able to work with Bosch’s best engineers to develop advanced products and provide information technology services," he said.

Entering Vietnam in 1994, Bosch Group established its subsidiary Robert Bosch Vietnam based in HCMC and opened a representative office in Hanoi in April, 2008. The push-belt plant in Long Thanh Industrial Park came into operation in August, 2008.

Robert Bosch has also decided to pour US$63 million into the plant, and with this investment increase, the total investment Bosch has spent on this plant will be US$322 million, according to Hue.

Source: The Saigon Times Daily