Bosch and Siemens Home Appliances Group (BSH) (which is two great consumer brands as one company) is speeding up its second round of investment in China, thirteen years after it first started operations in China.
As the world’s number three, and Europe’s number one white goods manufacturer, BSH shows great interest in independent development in the Chinese market.
The company has decided on $160 million of additional investments in its expansion projects.
On March 9, 2005, the BSH Industrial Park laid a foundation stone in the Nanjing Economic and Technological Development Zone which was completed a year later. In April 2006, BSH’s largest top freezer project around the world broke earth in Chuzhou City of central Anhui Province.
In 2007, the company built a plant in the Nanjing Industrial Park, producing 800,000 big-volume tumble washing machines a year. As of the end of 2007, BSH’s investments in the country had reached $500 million.
The new investment will be to build a a tumble washing machine plant as well as an electric water heater plant in the industrial park.
Source: Trading Markets