The Bosch Group is acquiring the assets and business of Shenzhen Wei Ning Da Industrial Co Ltd (Weicon) in Shenzhen, China. The agreements to this effect were signed on March 11, 2008. It has been agreed that the purchase price will not be disclosed. The acquisition is subject to approval by the authorities.
Weicon employs some 100 associates, and generated sales of approximately three million euros (roughly 27.4 renminbi) in 2007. The company develops, manufactures, and sells diagnostic equipment and the related software.
With this acquisition, the Bosch Automotive Aftermarket division and its Diagnostics business unit intend to further bolster their Chinese sales of diagnostic equipment, and to expand their already existing aftermarket activities. At the same time, Bosch is acquiring its own development and manufacturing base for diagnostic equipment in China, and is further expanding its software development activities there.
"With this acquisition, we are rounding off our product range in the mid-price segment. This segment is attractive for Asia Pacific, and especially for the Chinese market," says Hans-Peter Meyen, member of the executive management of the Automotive Aftermarket division.
In the future, the acquired Weicon business is to be built up to become the competence center for the development and manufacture of hardware and software components for diagnostic equipment in China.