MANILA, Philippines - Robert Bosch Inc. (Philippines), supplier of technology tools and services, expects sales to rise by 10 percent this year from a year ago amid the country’s positive economic performance.
Robert Bosch managing director Joseph Hong said in a briefing yesterday the firm is optimistic it could post “minimum double-digit growth†in sales this year from last year’s $28.8 million given the country’s favorable economic conditions.
“We look forward to more growth this year,†he said.
“The key driver (to growth in sales) is the strong macroeconomic fundamentals,†he added, noting that the positive economic performance would allow for higher demand for their products.
He also said the firm intends to introduce new product offerings which would help support higher sales.
Given the optimism in the Philippine market, the firm is also planning to expand its presence here.
Hong said the firm opened a business hub which has a showroom, training center and provides after sales services in Cebu in May.
He said the firm intends to open more business hubs in the country.
“We are looking at new areas,†he said.
Asked if there are plans to set-up a manufacturing facility here, he said the firm has been evaluating the Philippines as a potential location.
No final decision has been made yet however, as the company still needs to study the business environment here.
The firm which is a subsidiary of German firm Robert Bosch GmbH , sells products such as power tools, automotive equipment as well as security systems.
All its products are imported from plants overseas.