Bosch Rexroth last week signed a purchase agreement to acquire a majority stake in Zhejiang Easun Pneumatic Technology Co. Ltd., based in Cixi, China. Both parties have agreed not to disclose the purchase price. The acquisition is subject to approval by the authorities.
Easun is one of the leading pneumatics companies in China. Under the brand name Easun, it develops, produces and sells pneumatic cylinders, valves, maintenance units and accessories for the local market.
“With this acquisition, we are strengthening our position in the growing Chinese pneumatics market and offering an extended pneumatics range that is specially tailored to the requirements of Chinese customers,” said Dr. Albert Hieronimus, chairman of the executive board of Bosch Rexroth AG. “The move is a continuation of our ongoing strategy of regionalization.”
Bosch Rexroth has been represented by its own companies in China since the 1970s, offering its customers the complete range of drive and control products and manufacturers at three locations. In 2007, Bosch Rexroth generated sales of around €350 million in China with a workforce of more than 2,000. In 2007, the Bosch Group as a whole achieved consolidated sales of around €1.8 billion in China and employed more than 17,000 associates.
