Bosch Power Tools, a division of the 36.4 billion euro
Robert Bosch GmbH, Germany, is planning to expand its
operations to acquire a 40 share of the power tools
market in India by 2006.
in India in 1993, the company has outlined localisation
of manufacturing and entry into the DIY (do-it-yourself)
segment as its business strategy to expand its footprint
power tools market in India is worth Rs300 crore and
is growing at around 12 per cent per year. In 2003,
Bosch Power Tools India clocked 32 per cent growth in
2003 with gross sales of 20 million euro (INR100 crore).
the world leader in the power tools segment, generated
89 per cent of its turnover in 2003 from, overseas markets.
India has been recognised as one of the drivers for
growth for Bosch Power Tools, with its emphasis on infrastructure
and construction. The company has already started assembling
user-specific power tools at its manufacturing facility
to Uwe Raschke, president, Robert Bosch Power Tools,
"We intend to expand our market share with above-average
growth rates, focusing on Europe and Asia. To do so,
we want to continue our combined strategy of internal
growth and external take-overs. We expect an average
annual growth rate of three to four per cent in the
medium to long run in the world market for our products."
are convinced that power tools will remain a growing
market where our division will generate further profits.
It is our goal to extend our position as the innovative
leader on the world market and to remain the top choice
for our customers - dealers and end users," he
and MICO will invest in the Indian market to secure
future growth. Says Dr Albert Hieronimus, MD, Motor
Industries Company Limited (MICO), "We will focus
on manufacturing and localisation in the coming years.
We will also integrate MICO's production facilities
with the world-wide production network of Bosch Power
company plans to continue its innovation strategy by
developing both completely new products as well as helpful
improvements in the established power tools range.