Acquisition of the air conditioning and heating manufacturer JCH
The Bosch Group announced Tuesday this week its plan to acquire the global heating, ventilation and air conditioning solutions business for residential and small commercial buildings from Johnson Controls. As part of the deal, Bosch is also acquiring Johnson Controls-Hitachi Air Conditioning (JCH).
JCH is a joint venture between Johnson Controls and Hitachi. Bosch is quoting a purchase price of eight billion US dollars (7.4 billion euros) for the businesses to be acquired. According to the technology group, the acquisitionis expected to be completed within twelve months.
Stefan Hartung, Chairman of the Board of Management of Robert Bosch GmbH, explains: "As the largest acquisition in Bosch's corporate history, this is an important milestone in the consistent implementation of our Strategy 2030. We are dynamically driving forward the powerful further development of Bosch and, with this acquisition, achieving a leading market position worldwide in the promising heating, ventilation and air conditioning market." This will open up further growth opportunities for Bosch.
Bosch Home Comfort Group with expected sales of nine billion euros
The Group anticipates an increase in turnover for the Bosch Home Comfort Group from five to nine billion euros.
Frank Meyer, member of the Bosch board of management responsible for the Energy and Building Technology business sector and thus the managing director responsible for the Bosch Home Comfort Group, says: "Bosch's aim is to play an active role in shaping the innovative and growing market for energy and building technology and to assume a leading global position. With this acquisition, we are strengthening our position in the air conditioning sector in particular. We can also expand our heat pump business globally and achieve better economies of scale."