The reasons for the divestment of Munich-based Bosch Siemens Hausgerate (BSH) from Greece, with the cancellation of a multi-million-euro project and the approaching closure of its plant in Rendi, southern Athens, are not only related to the financial crisis and the adverse business climate in the country, but also due to local reactions to its investment.
One of Greece’s oldest factories; formerly known as Pitsos and founded in 1865, is shutting down.
Renamed BSH Hellas; after the acquisition by German Bosch-Siemens Hausgerate, the factory based in Renti, south of Athens, is to shut down by the end of 2018.
The company’s management announced a voluntary redundancy program for its 250 employees.
The Bulgarian unit of German technology giant Bosch registered sales amounting to nearly BGN 53 M in 2014, up by 35% from 2013, according to Mihai Boldijar, General Manager of Bosch Romania and Bulgaria.
Boldijar said at a press conference that Bosch had strengthened its presence in Bulgaria, outpacing the average growth rate on the market.
Bosch Group will open this year in Blaj, where the company has three factories, a research-development centre for automotive technology, with the total number of Bosch employees in the town of Blaj to be over 1,500 by the year's end.
Werner Richter, Bosch Rexroth Romania General Manager
Photo credit: (c) Mircea ROSCA / AGERPRES ARCHIVE
Bosch Software Innovations, a wholly owned subsidiary of German technology giant Bosch, plans to acquire Cologne-based ProSyst Software AG, which has a research and development unit in Sofia.
Agreements to this effect were signed on February 13, 2015, according to a media statement of Bosch.
ProSyst employs some 110 associates in Cologne, Germany, and Sofia, Bulgaria.