The German engineering giant, which employs 150 people across the region, reported sales of $566m in the Middle East
Robert Bosch Middle East reported an 11 percent increase in sales in 2017 - up to $566 million - across the 14 Middle East countries it operates in.
The German engineering giant, which employs 150 people across the region, said the double-digit growth was attributed to “various expansion initiatives”, according to Volker Bischoff, vice president and general manager, Robert Bosch Middle East.
Bischoff said he expects a reduction on the company’s business growth this year.
“This year, we expect Bosch‘s business in the Middle East to grow in the single digit range,” said Bischoff.
“In spite of a more subdued GDP growth in the region, the GCC continues to provide business opportunities for our products and services – especially in the building and construction sectors – and maintains efforts in diversifying local economies further.”
Bischoff said the company’s power tools and building technologies (formerly security systems) divisions remain “very strong growth drivers” across the region, amid “a positive construction environment and successful implementation of growth strategies”.
Bosch established a legal entity in Saudi Arabia in 2017 and increased the number of associates working in the kingdom.
In addition, Robert Bosch Engineering and Business Solutions gained a stronger foothold in Saudi Arabia, with notable growth in its IT solutions.