Bosch acquires Belgium’s Servico N.V.
Takeover strengthens the Group’s Thermotechnology Division
· Bosch acquires Servico N.V., its Belgian distribution partner
· Servico employs 85 people and generated sales of approximately EUR 28 million in 2007
· Servico’s core business revolves around selling and servicing Junkers products
Stuttgart – Bosch has signed a contract to acquire 100 percent of the shares in Belgium’s Servico N.V. from Kendrion N.V. based in Zeist/Netherlands. The international business of Bosch’s Thermotechnology Division will be strengthened through this acquisition of the Belgian distribution partner for the Junkers brand. The parties have agreed not to disclose the purchase price.
Long-standing track record in distributing Junkers branded products in Belgium
The inception of business relations between Junkers, a Bosch Thermotechnology brand, and Servico N.V., a company based in Aartselaar/Belgium, dates back to 1932. The Belgian company’s core business revolves around selling and servicing of wall-mounted condensing and conventional heating boilers as well as gas water heaters, storage tanks, control devices and solar collectors. In 2007, Servico employed 85 people and generated sales of approximately EUR 28 million, giving the company a share of some 10 percent of the Belgian market.
“Through the acquisition of Servico N.V. we will support the good business trend experienced by Junkers in Belgium and at the same time push forward the internationalisation of our division. Our long-standing business relationship and Servico’s focus on the Junkers brand mean that Servico is an excellent fit for Bosch Thermotechnology,” said Klaus Huttelmaier, a member of the Divisional Board of Bosch Thermotechnology.
Bosch Thermotechnology is a leading supplier of resource efficient heating products and hot water solutions in Europe. In fiscal 2007, the company generated sales of approx. EUR 2.8 billion (69 percent outside Germany) and employed approx. 13,100 people. Bosch Thermotechnology has strong international and regional brands and manufactures a diversified product range in 18 plants in nine European and North American countries.
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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 271,000 associates generated sales of 46.3 billion euros in fiscal 2007. The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiaries and regional companies in roughly 50 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Each year, Bosch spends more than 3 billion euros for research and development, and applies for over 3,000 patents worldwide. 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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