According to a Reuters report, Bosch Group executives of parts suppliers recently stated that the company is seeking to expand its business by expanding acquisitions outside of the automotive industry.
The German "Manager" magazine reported that Bosch has been working hard to develop new business areas over the years in an attempt to reduce its dependence on the automotive industry. Bosch CEO Volkmar Denner said in an interview with the magazine that if appropriate, the company will spend 1 billion euros (about 1.4 billion US dollars) for mergers and acquisitions expansion.
In 2008 and 2009, Bosch successively acquired two solar companies, Ersol and Aleo Solar, to establish a solar energy business. As the German government has reduced its subsidies for new energy industries, and low-priced Chinese similar products have impacted the European market, the solar energy business of the Bosch Group suffered huge losses last year.
So far, the business has accumulated a loss of billions of euros, of which only a loss of 1 billion euros in 2012, Bosch said in January that the company may again be unable to achieve its long-term profit target this year, and in the last month Announced that it will sell a solar panel factory.
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