German Power Tools Distributor Urges Government To Release Stimulus Funds
ROBERT BOSCH, Inc., the local subsidiary of German car parts and power tools maker Robert Bosch GmbH, expects sales this year to slow from the "exceptional" 56% growth recorded in 2008, officials yesterday said.
The sales mix is also likely to change this year, with the firm’s power tools division looking to gain against car parts’ share in total sales with an uptick in public infrastructure activity, they said.
"[We are eyeing] double-digit growth but we don’t have figures right now ... 2008 was an exceptionally good year. It will be difficult [to match it]," Managing Director Franz Roland Odenthal told reporters at a briefing.
Sales to the Philippines stood at 13.6 billion euros last year, up by 56% from 2007, Mr. Odenthal said. As earlier reported, the group credited its year-on-year growth to the continued hike in car sales and expansion in the construction and mining sectors.
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