Friday, June 14, 2024

Bosch to invest up to US $100 million to upgrade production lines

German engineering and technology company Bosch will invest between US $90 and $100 million in 2021 to modernize 12 production lines.

Automotive plants in San Luis Potosí and Aguascalientes and two research and development centers will benefit from technological upgrades.

Last year Bosch invested $87 million in Mexico despite the Covid-19 pandemic, which saw its domestic sales earn $2.7 billion, a 20% fall on 2019.

The pandemic caused a two-month closure, rupturing the entire supply chain, according to Gonzalo Simental, vice president of finance at Bosch. Sales to third parties in Mexico fell by 23% last year.

Despite the fall in sales, Bosch president René Schlegel said the company’s investment strategy will continue. “You can see the way we invest, there’s constant investment in technology, buildings, production of goods, development and people … I think that stability is good news for Mexico,” he said.

He added that Bosch has expanded its workforce through the pandemic with 17,200 staff at the end of 2020: a 5% increase on 2019.

Eduardo Pérez, vice president of taxes and foreign trade, spoke of the importance of Bosch’s Mexican infrastructure. “In the automotive sector there are big plans to continue on the same path. San Luis Potosí is the second most important plant that we have … Aguascalientes, particularly for brake systems that are important for the industry, has been growing steadily year after year. That part of the Bajío, where these two plants are located, is a central point in the automotive sector and will continue to grow in 2021,” he said.

He added that in 2021 Bosch will launch thermo-technology products, and its power tools business will launch a wide range of cordless products.

Bosch entered Mexico in 1966 with a manufacturing plant in Toluca, state of México. It now has a corporate development center, headquarters and 12 manufacturing plants in the country.

Source: El Economista (sp)

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