The German engineering giant have reported sales of $566m across the 14 Middle East countries it operates in, an 11 percent increase in sales over 2017.
The company 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.