Investments of Bosch in the NAFTA region totaled US$ 450 million in 2016. Projects in Michigan, South Carolina, San Luis Potosi, Aguascalientes and Chihuahua received the most significant amounts, according to financial results the global supplier of technology and services reported today.
The Germany-based manufacturer concluded its 2016 fiscal year with US$ 13.7 billion in consolidated sales in North America, slightly below from 2015’s record-breaking level of US$ 14 billion. Sales in the North American region represent 17% of the Bosch Group’s 2016 sales.
The number of associates employed throughout the U.S., Canada and Mexico in 2016 reached nearly 32,800, a year-over-year increase of more than 5%. This number is expected to increase slightly in 2017.
“North America is a key market for Bosch, and we remain committed to innovation and success,” said Mike Mansuetti, president of Robert Bosch LLC. “With the Internet of Things continuing to bring new opportunities, Bosch’s diversified portfolio of products and services is a competitive advantage.” Based on the results of the first quarter, the company expects a positive business development in 2017.
Focused on growing operations throughout the region, Bosch invested nearly US$ 450 million in 2016. Of significance were investments in Bosch’s facilities in Charleston and Anderson, South Carolina; sites in Aguascalientes, Juarez and San Luis Potosi, Mexico; and Bosch’s Research and Technology Center in Pittsburgh and the technical center in Plymouth, Michigan.
For 2017, in light of a subdued economic outlook and geopolitical uncertainty, Bosch aims to achieve sales growth of between three and five percent. And despite still heavy upfront investments in safeguarding the company’s future, the results are set to rise. “Business success today gives us the leeway to shape tomorrow’s world,” said Dr. Volkmar Denner, chairman of the Bosch board of management. “As an innovation leader, we are shaping and driving transformation,” Denner added.