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Our Bureau

Aims at 25 per cent share of global market by 2015

DR ALBERT HIERONIMUS (LEFT), Managing Director, Motor Industries Co Ltd, with Dr Ferdinand Allerkamp, Joint Managing Director, at a press conference in Mumbai on Saturday. — Paul Noronha

Mumbai March 17 The Bosch group has plans for new investments in India in 2008-09 over and above the proposed Rs 1,800 crore for 2005-09.

According to Dr Albert Hieronimus, Managing Director, Motor Industries Company Ltd (Bosch holds 60.55 per cent stake), the company has invested Rs 1,200 crore while the remaining amount (Rs 600 crore) is likely to be infused by 2007-end.

With the continued 20 per cent growth in the auto industry, the company is working on fresh investments by end-2008, which are yet to be finalised, said Dr Hieronimus. Fund infusion is based on the vision the group has for the Asia-Pacific market. Bosch is likely to have a 25 per cent share of the global market by 2015 against the current 15 per cent.

Non-automotive biz

Bosch has announced its focus on non-automotive business through its flagship Motor Industries Company. The company has packaging machinery, automation technology, power tools and security technology as part of the non-automotive business. It has decided to rent out a new plant in Goa for the packaging industry with an initial investment of Rs 4 crore (2007-08), said Dr Hieronimus. Besides, it is about to invest Rs 2-3 crore on a motor line in the power tool division at its Bangalore plant by the end of this calendar year.

The non-automotive business has posted a sales growth of 34 per cent in comparison to the automotive business growth of 27 per cent. One of the primary drivers is the power tools division, posting a sales growth of 70 per cent on a year-on-year basis, to make it the largest player in the country.

In the packaging machinery division, the company is looking at setting up a one-stop shop for most packaging requirements. It has been catering to the confectionery industry and now wish to tap the pharmaceutical industry.

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