5/29/2009

Bosch-Siemens Hausgerate to focus on R&D investments in Turkey

Today’s Zaman - German household goods manufacturer Bosch-Siemens Hausgerate (BSH) has posted a record 295 percent increase year-on-year in profits during Q1 of 2009 in Turkey, fueled by the increased demand resulting from the Turkish government’s recent reduction in special consumption tax (SCT) on home appliances. Speaking at a press conference on Thursday to announce the company's 2008 figures for Turkey as well as for this year's first quarter, BSH CFO Johannes Närger said the company increased its sales by four percent in 2008, gaining a 26 percent share in the Turkish household appliances market. Närger stated that during the first two months of the year, they managed to maintain their position in the market despite the ongoing global turbulence. “Our net profit in 2008 increased nine percent year-on-year to TRY 2 billion, while exports rose eight percent” he added, noting they invested some TRY 53 million in Turkey in 2008. Meanwhile BSH executive board member Ronald Grünberg specified that they plan to focus more on R&D investments in Turkey, noting that the country has become the company's production center. “Our largest plant is currently located in Cerkezkoy and we expect to invest some TRY 100 million in this facility over the next five years” he said. With regard to the group's contributions to employment in Turkey, Grünberg emphasized the fact that they will hire between 4,800 and 5,000 new employees before the year-end. “We have hired 600 new employees since March this year” he added.

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