SOURCE: Bosch Rexroth Corporation

April 22, 2008 18:34 ET

Growth and New Jobs for Bosch Rexroth as Company Announces 2007 Results

HOFFMAN ESTATES, IL--(Marketwire - April 22, 2008) - (www.boschrexroth-us.com) Bosch Rexroth AG, parent company of Bosch Rexroth Corporation in North America, announces $7.4 billion (5.4 billion Euros) in sales for 2007 -- up 8.8 percent from the previous year. The company is also expecting continued strong growth in the mobile applications, industrial automation and renewable energy sectors in 2008.

Despite the uncertain economic situation, 2007 sales in the Americas region grew by 3.1 percent in dollars. Unfortunately, because of the changing currency rate, the company recorded a 5.5 percent decline in Euros.

The U.S. will continue to be an important automation technology market for Bosch Rexroth, a supplier to practically every branch of the plant automation and machinery OEM business. The strong sales can be attributed to industrial hydraulics and large gear systems for wind farms, said Berend Bracht, president and CEO of Bosch Rexroth Corporation.

Globally, Bracht noted, "One of the key drivers of our growth comes from the positive economic development in Central and Eastern Europe." Excluding Germany, sales for Europe were up by more than 14 percent. In Germany, Bosch Rexroth expanded sales by 8.3 percent. It also achieved double-digit sales increases in China and India.

3,100 new jobs worldwide

The high demand also had a positive effect on the number of jobs created. In 2007, Bosch Rexroth's global workforce grew by 3,150 employees, with jobs added in Germany, the Americas, Central and Eastern Europe, as well as in Asia.

Investments in additional capacities, growth in renewable energies

With investments in the range of $517 million (377 million Euros), Bosch Rexroth has significantly increased its worldwide production capacity. Bracht also indicated more capacity expansion is planned for 2008 in Central and Eastern Europe, Germany and the U.S. With production capacity increases for large gear systems used in wind energy plants, Bosch Rexroth is preparing to meet the fast-growing demand for renewable energies coming especially from the U.S. and Asia.

Bosch Rexroth's 2007 sales also grew in the solar technology sector, where the company offers innovative installation and automation solutions for more cost-efficient series production of solar cells.

"Overall, order volumes appear healthy and we are expanding our capacities. Therefore, we are looking ahead to a double-digit percentage increase in sales for 2008," concluded Bracht.

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