Bosch Australia’s president has said the company plans to grow its revenues in Australia, and that its energy and building division would have a significant role in this.
Speaking to The Australian, the head of Bosch in Australia, Gavin Smith, said only a tenth of business this country was in automotive, and this would shrink further to 5 per cent next year.
He added that the local exit from manufacturing by Ford, Holden and Toyota by 2018 would have “nil impact”, with Bosch’s production line group for automotive shifting to other industries and growth in its energy and building business to ramp up in the short to medium term.
The German-based Bosch group is biggest supplier of auto parts in the world.
“Energy and building technology will grow to be 40 per cent of our sales over time,” he told The Australian.
“We have plans to grow our thermal technology business quite substantially. Energy and building is also the area where the group has the biggest appetite for acquisitions."
That division makes up an estimated 15 per cent of revenues – estimated to be around $650 million for the year – compared to 35 per cent from its consumer goods business. Automotive technology and industrial technology each represent a quarter of revenues.
Smith also said the company planned to retain and expand its Australian manufacturing operations.