Bosch opens office in Singapore

Bosch opens office in Singapore

SINGAPORE: German industrial giant Robert Bosch will set up a regional automotive operation in Singapore to spearhead its push in the region, the company said Tuesday.

Bosch, a major player in automotive technology, wants to increase its market share in this part of the world from seven percent in 2002 to 10 percent in seven years' time, it said in a statement.

The company's automotive aftermarket division has annual revenue of US$500 million from the Asia Pacific and is projecting business turnover will increase 30-40 percent by 2007 as a result of its drive into the region.

"The objective of setting up a diagnostics distribution and support organization is to provide additional focus for the company's expansion," Bosch said.

Bosch plans to invest US$10 million every year in diagnostics and data warehousing as part of its regional expansion plan, which includes increasing its car service network from 2,000 centers last year to 3,000 in 2006. -- AFP