Bosch expands its product portfolio
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The Bosch Thermotechnology Division plans to take over industrial boiler manufacturer Wuhan Tianyuan Boiler Co., Ltd., Wuhan, China, and its three subsidiaries. An agreement to this effect was signed in Wuhan on September 16, 2011. The transaction is subject to official Chinese approvals. The parties have agreed not to disclose the purchase price. Wuhan Tianyuan employs 620 people and generated sales revenues of approximately EUR 16 million (approximately CNY 145 million) in the past fiscal year. As a technological leader in industrial boilers, Wuhan Tianyuan meets the highest demands of the China Special Equipment Inspection and was thus awarded the Grade A certification. Apart from fire tube boilers and exhaust heat boilers, the company primarily produces water tube boilers for the production of heating energy and process heat with a capacity of up to 220 tons of steam per hour or 138 megawatts. Water tube boilers dominate the Asian industrial boiler market. They are used, for instance, in the manufacturing sector, in hospitals, department stores, public facilities, hotels or district heat networks. “The acquisition of Wuhan Tianyuan will enable Bosch to add water tube boilers to its product portfolio,” said Uwe Glock, President of the Bosch Thermotechnology Division. Bosch currently markets fire tube boilers primarily in the European market. “The takeover will allow us to significantly expand our presence in China, India and the ASEAN countries,” said Uwe Glock, adding that the company would build on the Wuhan Tianyuan sales team’s experience in dealing with major Asian accounts. The Chinese company markets its products in the Asian region through three subsidiaries, Wuhan Environment, WH Installation and Wuhan Automation. |
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