Bosch Rexroth AG, (www.boschrexroth-us.com) Lohr, Germany, said recently that it is set to acquire a majority stake in Zhejiang Easun Pneumatic Technology Co. Ltd. (Easun), based in Cixi, China. Easun develops, produces and sells pneumatic cylinders, valves, maintenance units and accessories for the local market, and employs around 900 people.
“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 Albert Hieronimus, Ph.D., chairman of the Executive Board of Bosch Rexroth AG. “The move is a continuation of our ongoing strategy of regionalization,” adds Hieronimus.
The purchase agreement was signed on June 30, 2008 in Cixi, and is subject to approval by authorities. Terms of the deal were not disclosed.
Bosch Rexroth said it has been represented by its own companies in China since the 1970s, offering customers the complete range of drive and control products and manufacturing at three locations.
In 2007, Bosch Rexroth generated sales of around €350 million in China with a workforce of more than 2,000 associates. 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.
Zhejiang Easun Pneumatic Technology Co. Ltd.