Sale of SEG Automotive Germany GmbH – the former Robert Bosch Starter Motors Generators Holding GmbH – to ZMJ and its partner CRCI successfully closed

  • ZMJ is a major automotive supplier in the field of starter motors and generators.
  • All the 8,000 associates worldwide, at 16 locations in 14 countries, are part of the new company

Stuttgart, Germany – At the end of 2017, Bosch has successfully consummated the scheduled sale of its subsidiary SEG Automotive Germany GmbH, the former Robert Bosch Starter Motors Generators Holding GmbH, together with all subsidiaries, to the purchaser consortium ZMJ (Zhengzhou Coal Mining Machinery Group Co., Ltd.) in Zhengzhou, China and CRCI (China Renaissance Capital Investment) in Hong Kong, China. All necessary approvals, including merger control clearance, have been obtained. Thus, from January 1, 2018 the former division is an independent company.

“We have achieved our goal and found a purchaser offering a viable industrial concept and a long-term perspective for successfully taking this business forward internationally, and thus for associates,” says Dr. Rolf Bulander, chairman of the Mobility Solutions business sector and member of the management board of Robert Bosch GmbH. Commenting on the sale, he says: “I am confident that, in this new constellation, the division can seize its opportunities for a positive future.”

ZMJ, the new owner, already operates in the automotive supply sector via various subsidiaries. For starter motors and generators, as well as in its capacity as a manufacturer of engine components for commercial vehicles and passenger cars, ZMJ is a major Chinese automotive supplier. The purchaser now wishes to complement the Bosch activities hitherto in the starters and generators segment with its portfolio, and to use this for further internationalization. As ZMJ’s long-standing business partner, the financial investor CRCI will support the company in this acquisition as well.

Bosch signed a sales agreement with ZMJ and CRCI in May 2017. In mid-2015, Bosch had announced it was examining strategic options for realigning the division, including finding a partner or buyer. Bosch is convinced that, in this new constellation, the division’s competitiveness can be increased and that further stimuli for growth can be created. Bosch has invested a lot in making this happen. The carve-out was the most complex one in the company’s history.

Mobility Solutions is the largest Bosch Group business sector. According to preliminary figures, its 2017 sales came to 47.4 billion euros, or 61 percent of total group sales. This makes the Bosch Group one of the leading automotive suppliers. The Mobility Solutions business sector pursues a vision of mobility that is accident-free, emissions-free, and stress-free, and combines the group’s expertise in the domains of automation, electrification, and connectivity. For its customers, the outcome is integrated mobility solutions. The business sector’s main areas of activity are injection technology and powertrain peripherals for internal-combustion engines, diverse solutions for powertrain electrification, vehicle safety systems, driver-assistance and automated functions, technology for user-friendly infotainment as well as vehicle-to-vehicle and vehicle-to-infrastructure communication, repair-shop concepts, and technology and services for the automotive aftermarket. Bosch is synonymous with important automotive innovations, such as electronic engine management, the ESP anti-skid system, and common-rail diesel technology.

The Bosch Group is a leading global supplier of technology and services. It employs roughly 400,500 associates worldwide (as of December 31, 2017). According to preliminary figures, the company generated sales of 78 billion euros in 2017. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected industry. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to create solutions for a connected life, and to improve quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 125 locations across the globe, Bosch employs 62,500 associates in research and development.

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