Clubbinman
Stefan Hartung, the CEO of Bosch, claims that this is "the biggest deal in the history" of his company. It will fortify the German company's position in the lucrative HVAC systems market and increase its footprint in the United States and Asia.
Bosch will obtain 100% of the Johnson Controls-Hitachi Air Conditioning joint venture, including a 40% investment in Hitachi Japan, in addition to the direct Johnson Controls assets as part of the purchase. About 12,000 people are employed by the 16 manufacturing and engineering offices included in the agreement, which is spread across more than 30 nations.
It is anticipated that the acquisition will increase Bosch Home Comfort's revenues from the current €5 billion to €9 billion in the HVAC segment. The supervisory board and shareholders of Bosch have approved the acquisition. It is anticipated to be finished within a year.
source: ft.com
Bosch will obtain 100% of the Johnson Controls-Hitachi Air Conditioning joint venture, including a 40% investment in Hitachi Japan, in addition to the direct Johnson Controls assets as part of the purchase. About 12,000 people are employed by the 16 manufacturing and engineering offices included in the agreement, which is spread across more than 30 nations.
It is anticipated that the acquisition will increase Bosch Home Comfort's revenues from the current €5 billion to €9 billion in the HVAC segment. The supervisory board and shareholders of Bosch have approved the acquisition. It is anticipated to be finished within a year.
source: ft.com