Bosch closed its 2015 fiscal year with $50 million in consolidated sales in the Philippines, making it one of the fastest growing markets for Bosch in Southeast Asia. This was announced last week during the Bosch’s annual press conference held at the Blackbird in Makati City.
Compared to the previous year, the company achieved a strong double-digit growth of over 35 percent. This momentum was driven by a strong performance across the company’s diverse portfolio of products offered in the country, and particularly related to power tools, security systems and the automotive after-market business. Furthermore, Bosch’s Drive and Control business division officially commenced operations in the Philippines in April 2015. Over the course of the year, Bosch increased its workforce in the Philippines by over 50 percent to about 460 associates.
“Along with our expansion efforts in the Philippines, I am confident that our strength in innovation will continue to drive our growth,” said Andrew Powell, managing director of Bosch in the Philippines. “It is a very exciting time to be in Southeast Asia right now, particularly with the Philippines contributing strongly to Bosch’s growth in the region.”
In 2015, Bosch began the construction of its third business hub outside of Metro Manila, the other two being in Cebu and Davao. Aimed to address the rapid development in the Mindanao region, the Cagayan de Oro business hub is scheduled to open in August 2016, and will provide showroom areas, training, sales, and after-sales support for Bosch products and solutions across every Bosch division that is present in the Philippines.
The new hub will be especially beneficial for Bosch’s Industrial Technology business sector, as it will unlock opportunities to offer solutions in industrial applications. Cagayan de Oro has been referred to as an emerging city owing to its fast growth, and offers tremendous potential in the manufacturing sector with the proliferation of factories locating in and around the area. The Drive and Control business division, specializing in hydraulic technology and factory automation under the Rexroth brand, will help improve the production efficiency of industries such as biofuel and sugar milling.
Bosch is exploring other provincial areas such as Iloilo and Baguio to establish additional business hubs and come closer to its customers.
The steady progress of the Philippines’ property development market enabled Bosch´s Consumer Goods business sector to maintain its ninth consecutive year of double-digit growth in the country. To address the needs of the growing, price-conscious local professional builders, the Power Tools division launched the Contractor’s Choice, a new range of power tools that feature the performance and reliability of Bosch’s professional tools at an affordable cost.
The Mobility Solutions business sector continued its momentum of growth, with the Automotive Aftermarket division etching a double-digit increase in sales compared to the year before. The division strengthened its distribution network across the Philippines, bringing more products and services closer to the market, particularly in Visayas and Mindanao. In addition, the number of Bosch Car Service and Diesel Centers increased from 40 workshops in 2014 to almost 70 over the course of 2015.