Germany-based Bosch, one of the world's largest auto parts supplier, announced the sale of its division Robert Bosch Starter Motors Generators Holding GmbH, including all subsidiaries, to the purchaser consortium ZMJ (Zhengzhou Coal Mining Machinery Group Co., Ltd.), and CRCI (China Renaissance Capital Investment).
Bosch starters and generators business is a world-wide leader in the field of automotive energy supply with a product portfolio that includes high-efficiency generators and starter motors for petrol and diesel engines as well as the economical and CO2-reducing start-stop and hybrid systems.
The transaction was signed by Bosch, ZMJ, and CRCI on May 2 and all three companies agreed that the purchase price will not be disclosed, but industry sources estimate it at more than US$ 550 million. Consummation of sale is subject to approval by antitrust authorities.
The business unit has under 7,000 associates and 16 locations in 14 countries, including Brazil, China, Hungary, India, South Africa, Spain, the United States and Mexico (Toluca).