The Philippine unit of Robert Bosch Inc. grew their sales to 30 percent, having total net sales of $28.8 million, or P1.25 billion in 2012.
According to Joseph Hong, Bosch Philippines managing director, the company is also aiming for double-digit growth this year as it had “double-digit growth for six consecutive years.” Bosch Philippines has set a minimum projected growth of 10 percent for 2013.
“I think the key drivers for the improvement is the strong macroeconomic fundamentals of the country. Economic growth is quite strong and all macroeconomic indicators like inflation, foreign exchange reserves are positive,” Hong said.
“We are also encouraged by the [Aquino] administration’s trust to continue whether pushing for industrialization in the country, focusing on manufacturing, increasing employment and ensuring our growth is inclusive,” he added, referring to the government’s contribution to businesses like Bosch.
William Go, Bosch country sales director in power tools, said that the company will expand more and opened its first regional unit in Cebu in May.
“For 2013, we continue to expect growth, investing further. The opening of our first unit outside Manila, which is in Cebu, is a clear indication of this optimism,” Hong said.
He further explained that although the company still doesn’t have a manufacturing facility in the Philippines, it continues “looking for areas of improvement” to “use the Philippines as a supply base.”
“No, [we don’t have a manufacturing facility but]we have suppliers here, mostly in electronics sector, supplying our plants in other countries . . . mainly in Europe for assembling the parts there altogether into a whole product,” Hong said.
Bosch Philippines also launched this year the lithium-ion technology for screw drivers, which is “the very first one in the market” and “a far greener technology.”
At present, Bosch Philippines has over 99 business partners in the Philippines and 18 service centers all over the country, even in the provinces.
Bosch plans to enter the motorcycle industry, but is now focusing more on the automotive sector, power tools, security systems and thermotechnology, among others.
“[The company is] the most impressive in terms of our product range,” Go said.