Bosch: expansion of the market position in Brazil
Bosch’s Thermotechnology Division plans to acquire Heliotek Maquinas e Equipamentos Ltda. head-quartered in Sao Paulo, a Brazilian manufacturer of solar thermal systems and heat pumps for domestic hot water heating. The respective agreement was signed by Bosch, the Monier Group, that holds 51 percent of shares in Heliotek, and by the owners of the remaining 49 percent of shares, on May 28, 2012 in Sao Paolo. The transaction is subject to local regulatory approvals. The parties agreed not to disclose the purchase price. In 2011 Heliotek generated revenues of about 12 million euros and employed some 120 people.
Heliotek develops, produces, and markets solar thermal systems and heat pumps for domestic hot water heating in small and large residential buildings as well as for commercial applications such as hotels, schools and sports centers. The products are manufactured in Alphaville and marketed via a nationwide distribution network to some 200 dealers.
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