16th
September 2008 - Bosch
Automotive Aftermarket Closes Deal to Acquire Friction Business of Morse
Automotive
Robert Bosch LLC has
received approval from the relevant antitrust authorities and on
September 9, 2008, finalized its acquisition of the friction business of
Morse Automotive Corporation. The closing clears the way for the
integration of the acquired Morse assets into the newly established
Bosch Brake Components LLC as part of Bosch’s North American Automotive
Aftermarket division.
The acquisition represents Bosch’s entry into brake pad and brake shoe
manufacturing. This action affords Bosch the opportunity to expand its
global position, especially in the North American market, in a manner
consistent with its overall strategy for this key growth area.
The Bosch Group is a leading global supplier of technology and services.
In the areas of automotive and industrial technology, consumer goods,
and building technology, some 271,000 associates generated sales of 46.3
billion euros (over $63 billion) in fiscal 2007. The Bosch Group
comprises Robert Bosch GmbH and its more than 300 subsidiaries and
regional companies in roughly 50 countries. This worldwide development,
manufacturing, and sales network is the foundation for further growth.
Each year, Bosch spends more than 3 billion euros for research and
development, and applies for over 3,000 patents worldwide. The company
was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop
for Precision Mechanics and Electrical Engineering.”
In North America, the Bosch Group manufactures and markets automotive
original equipment and aftermarket products, industrial automation and
mobile products, power tools and accessories, security technology,
thermo-technology, packaging equipment and household appliances. Bosch
employs approximately 25,000 associates in more than 70 locations
throughout the U.S., Canada and Mexico, with reported sales of $9.5
billion in fiscal 2007. For information on Bosch automotive aftermarket
products visit www.boschautoparts.com.
Source: Bosch Press Release