FARMINGTON HILLS, Mich. -- Bosch reports that in North America the company has returned to its economic course and remains optimistic for growth, despite uncertainty in the wake of current events. In fiscal 2010, Bosch generated regional sales of $8.8 billion, an increase of 27 percent to the prior year (2009: $7.3 billion).
Combined Americas (North and South America) sales totaled more than $11 billion, accounting for more than 18 percent of the Group's global sales. The global supplier of technology and services reported 2010 group revenue of 47.3 billion euros ($62.7 billion), the highest level of annual sales in Bosch's 125-year history. In 2011, the company says it expects to surpass the 50-billion-euro mark in global sales. With continued positive recovery of the U.S. economy, Bosch expects single-digit growth in North America in 2011, regaining its pre-crisis sales level.
Peter Marks, chairman, president and CEO, Robert Bosch LLC and member of the Bosch Board of Management said, ''We are keenly aware of looming uncertainties that could affect growth of the world economy. We expect the consequences of the unfortunate events in Japan will have a temporary effect. Yet, we remain confident that Bosch is on solid footing to shoulder the impact and achieve further growth. Our sights are set on sustained innovative strength, a continued focus on diversification and pursuit of new business areas and opportunities in North America.''
Bosch plans to generate 20 percent or more of its sales in the Americas mid-term.
Positive headcount development
The U.S. economic recovery and the upturn particularly in the automotive sector were key drivers of Bosch's strong 2010 regional results as well. All three business sectors significantly increased their sales in 2010. This positive development also is reflected within the company's regional employment.
In 2010, the number of Bosch associates working throughout the U.S., Canada and Mexico increased 8 percent to some 22,000 (2009: 20,350).
''The know-how, determination and resiliency of our associates in the region are critical assets in our return to growth,'' said Marks. Bosch says it intends to increase the number of associates in North America by 1,000 in 2011. Worldwide, the number of Bosch associates is expected to rise by 15,000 to reach some 300,000 by year-end.
Continued investment fuels future growth
Bosch continues positioning itself for growth through investment in acquisitions and capital expenditures, equivalent to 5 percent of the Group's revenue. The U.S. remains the second-largest market for Bosch worldwide, and more than $150 million was invested in North American activities in 2010. With its acquisition of RTI Technologies Co. Ltd. in December 2010, Bosch expands its development and distribution of automotive maintenance equipment, particularly air conditioning service (ACS) machines.
Affirming commitment to its regional manufacturing footprint, last year Bosch announced a five-year, $125-million investment in its Charleston, S.C., site, an action expected to create nearly 300 new jobs in the Automotive Technology sector. Present in Mexico since 1955, Bosch invested $27 million there in 2010, and inaugurated its new headquarters in Mexico City in April 2011, featuring a state-of-the-art training facility that will help serve the local needs of clients, technicians and distributors.
In 2011, Bosch Group says it intends to spend more than 7 billion euros (over $9 billion) globally to safeguard its future.
