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Bosch Automotive Aftermarket to acquire the friction business of the Morse Group

Strengthening of the brake components program
Expansion of the aftermarket business with brake products, especially in North America

Stuttgart / Chicago - Bosch has announced it plans to acquire the brake friction business of the Morse Automotive Corporation headquartered in Chicago, Illinois. The price of the acquisition was not disclosed. The transaction is subject to the approval of antitrust authorities. The Morse Group develops, manufactures, and markets pads for disc brakes and linings for drum brakes, as well as brake calipers, predominantly for the North American market. In fiscal 2007, its 1,640 associates generated sales of $157 million (roughly 115 million euros).

“For us, the brake products business is a strategic growth area, and we consider brake pads to be a key element of this portfolio,” said Robert Hanser, president of the Bosch Automotive Aftermarket division. “The acquisition of Morse’s friction business is our entry into the production of brake pads, as well as an opportunity to expand our position in the North American market in a way which is consistent with our overall strategy.” Bosch plans to take over existing contracts with customers of Morse.

New business unit formed for brake systems
The business acquired from the Morse Group is set to be integrated into the Bosch Automotive Aftermarket division, in a new business unit called Braking Systems. The Morse Group plans to continue all of its other existing aftermarket activities, such as the brake caliper business.

Apart from sales and marketing of automotive parts, the main focus areas of the Bosch Automotive Aftermarket division are automotive workshop equipment and the workshop concept Bosch Car Service. In fiscal 2007, the 5,000 associates of the Bosch Automotive Aftermarket division generated sales of approximately $4.8 billion (roughly 3.5 billion euros).

The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 271,000 associates generated sales of over 46.3 billion euros (over $63 billion) in fiscal 2007. The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiaries and regional companies in roughly 50 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Each year, Bosch spends more than 3 billion euros for research and development, and applies for over 3,000 patents worldwide. The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as "Workshop for Precision Mechanics and Electrical Engineering."

In North America, the Bosch Group manufactures and markets automotive original equipment and aftermarket products, industrial automation and mobile products, power tools and accessories, security technology, thermo-technology, packaging equipment and household appliances. Bosch employs approximately 25,000 associates in more than 70 locations throughout the U.S., Canada and Mexico, with reported sales of $9.5 billion in fiscal 2007. For more information on the company, visit www.boschusa.com.

Bosch to acquire Morse Group friction business - September 2008


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