Bosch Sees Double-Figure Growth in the Philippines

According to Business World Online, Bosch's Philippine's branch is seeing double-figure growth. From the article;

THE LOCAL unit of Germany’s Bosch Group, a manufacturer of car parts and power tools, is expecting double-digit sales growth this year after recording a 56% increase in first-quarter sales over year-ago levels, officials said in a press briefing yesterday.

Upbeat forecasts for new car sales and robust activity in the construction and mining sectors should drive demand for their products, Bosch executives said.

The Philippine-based Robert Bosch, Inc. is aiming to “reach as close” to a rebound this year to make up for the 25% sales decline in 2009 to around P600 million, managing director Joseph N. Hong said at the briefing.

Good news for the German-based company, particularly considering the on-going global financial downturn.

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