MANILA – Bosch, a global supplier of technology and services, is expecting growth in its Philippine operations due to a positive outlook in the property and automotive sectors this year.
Bosch said that development in its Security Systems division, which posted strong growth last year, is expected to continue because of a projected increase in real estate investments in the country.
“New legislations on the adoption of security systems and building management solutions in commercial establishments have spurred demand for innovative, robust and holistic security solutions. This development is expected to continue beyond 2014,” the firm said.
Bosch's security portfolio includes video surveillance, intrusion detection, fire detection and voice evacuation systems as well as access control and management systems.
Bosch said the automotive sector is also "set for strong growth this year,” noting that Visayas and Mindanao are key areas for expansion for its Automotive Aftermarket division.
“The Automotive Aftermarket division is expected to ride on this growth while continuing to fine tune its existing product range. New innovations in gasoline and diesel systems, as well as diagnostic equipment, are expected to spur the division’s growth in 2014,” Bosch said.
It said its Automotive Aftermarket division continued to expand its network of workshops in 2013, closing the year with 34 Bosch Service Workshops nationwide.
These workshops specialize in bumper-to-bumper vehicle repairs and diesel pumps calibrations.
Bosch reported that for fiscal year 2013, its total revenue in the Philippines reached $29 million.
It also reported that its year-on-year sales growth of over 6 percent is largely attributed to its expansion into Visayas and Mindanao.
Bosch grew its workforce by nearly 35 percent to about 270 associates in 2013.
“The strong economic growth in the Philippines is expected to continue and presents many opportunities to Bosch, bolstered by the development of infrastructure, housing and commercial projects in the country,” said Andrew Powell, managing director of Bosch in the Philippines.