The Thai unit of the German car parts maker, Robert Bosch Limited (Bosch), has set its sights on another year of double-digit sales growth after its revenue exceeded 10 billion baht last year.
Bosch, also a leading industrial services company, yesterday reported its sales last year rose by 22% to 10.8 billion baht or €285 million, marking both a 25-year high and the strongest sales among its Asean operations.
Bosch's revenue in Thailand surpassed 10 billion baht for the first time in 2013 before dropping down to 9.4 billion baht in 2014.
Managing director Joseph Hong said the country's economic development is moving at a similar clip to last year, thanks to the government's efforts to accelerate public spending through infrastructure projects since the second-half of last year.
"The current circumstances are unlike 2014, which were weaker due to political turmoil," said Mr Hong.
Political instability since late 2013 had been a major factor dragging on the Thai economy, with a slowdown in momentum still being felt the following year.
The situation for the industry slowly began to improve in the second-half of last year.
Bosch is also confident the country's automotive vehicle production output will maintain its strong momentum from last year through the end of this year, given that automotive export orders have been increasing despite a slight drop in domestic sales.
"Bosch's business in Thailand is expected to perform in line with improvements in the automotive and industrial sectors," said Mr Hong.
Bosch established its market presence in Thailand in 1923 through its authorised distributors before later setting up a company to carry out operations. It currently has 1,100 employees at its Thai unit.
The company's mobility solutions, including its automotive division, represents 50% of its revenue in Thailand.
The group manufactures automotive components at its facility in the Amata City Industrial Estate in Rayong, and produces packaging machinery and hydraulic equipment at its plant in the Amata Nakorn Industrial Estate in Chon Buri.
It also distributes spare auto parts, power tools, security systems, thermotechnology, electronic components need for renewable energy, drive and control technology, and packaging technology.
