Bosch eyes double-digit growth here
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Bosch Group expects double-digit sales growth in Thailand for the 2013 fiscal year after a difficult economic climate in 2012, it announced in a press conference yesterday.
The global supplier of technology and services experienced 5-per-cent sales growth in Thailand last year with net sales of Bt9.3 billion, and a 30-per-cent increase in Southeast Asia.
Thailand contributed more than 30 per cent of the sales in the region, second to Singapore, in fiscal 2012. The Asia-Pacific division has become a greater target for business investments and expansion after its 5.6-per-cent growth in comparison with a decline of 1.9 per cent in Europe, Bosch’s highest source of revenue.
Bosch foresees double-digit growth in Thailand due to planned developments in new business divisions, new products, and geographic expansion.
Bosch Drive & Control Technology was introduced this April in Amata Nakorn Industrial Estate, Chon Buri, for the purpose of offering professional expertise to local industries and providing a range of automotive services.
Automotive-manufacturing operations will also be expanded along with an augmentation of the Power Tools division through the launch of Dremel, a US power-tools brand, and the addition of 100 new products to its line. This division recorded a 12.5-per-cent sales increase in the first quarter, the second-highest in Thailand after Thermotechnology, which has been increasing at a rate of 55 per cent.
Bosch also lists an increasing footprint in the Northeastern and Southern regions of the country as a major expected source of growth for the remainder of 2013.
“With the recent set-up of a sales office in Chiang Mai this year, we establish closer proximity to serve our customers across 17 provinces in the Northern region,” said Peter Vandlick, managing director of Bosch in Thailand.
Bosch will also launch a new talent-development scheme, the Bosch Mechatronic Apprentice Programme, to develop the skills of young local talents in electronic and mechanical engineering in the hopes of making a long-term positive impact to the local industry.
With the introduction of these new developments, Bosch remains optimistic regarding Thailand’s role in the company’s future.
“As the country makes a strong economic comeback and remains the automotive-manufacturing hub of Southeast Asia, Thailand will continue to be a stronghold for growth and expansion for Bosch,” Vandlik said.
