Bosch acquires RTI Technologies Co., Ltd.
* Growth opportunity for Automotive Aftermarket
* Technical specialist in field of automotive maintenance equipment
· Acquisition presents new business opportunity for Bosch Diagnostics
· Bosch to expand in automotive air conditioning service market
Stuttgart – The Bosch Group’s Automotive Aftermarket business announced it has acquired RTI Technologies Co., Ltd. on December 07, 2010. RTI Technologies Co., Ltd. specializes in the development and distribution of automotive maintenance equipment including air condition service (ACS) machines. The company, based in York, Pennsylvania (USA), had sales of $12.0 million (8.6 million euros) in 2009 and employs 36 associates, all of whom will be retained by Bosch. Terms of the agreement will not be disclosed.
“The automotive air conditioning service is an important opportunity for Bosch to grow its Diagnostic business globally,” said Robert Hanser, president, Automotive Aftermarket, Robert Bosch GmbH. “The acquisition of RTI Technologies offers us an outstanding opportunity to meet the immediate needs of our customers with automotive maintenance equipment, especially air condition service for the next generation refrigerant R1234yf. We are looking forward to providing these innovative products to our customers, especially in the European market, beginning next year.”
Established in 1990, RTI develops, assembles and sells various types of automotive maintenance equipment including the ACS machines in the U.S. market. The business is uniquely positioned to provide access to the technology for new ACS machines to deliver the new refrigerant R1234yf, which will be introduced into the market beginning in 2011 in Europe.
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 275,000 associates generated sales of 38.2 billion euros in fiscal 2009. The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiaries and regional companies in over 60 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for growth. Each year, Bosch spends more than 3.5 billion euros for research and development, and applies for some 3,800 patents worldwide. With all its products and services, Bosch enhances the quality of life by providing solutions which are both innovative and beneficial.
The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant up-front investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.
Additional information can be accessed at www.bosch.com.
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