Bosch to open solar power systems sales office in Turkey - report

(ADPnews) - Apr 20, 2011 - German industrial company Robert Bosch GmbH plans to launch an office for solar power systems distribution in Turkey, Turkish daily Hurriyet reported on Monday, citing Bosch Board member Rudolf Colm.

The plans are part of the company's strategy to enter ten new countries this year and to increase sales in its existing markets, expecting the solar photovoltaic (PV) market to double by 2015.

Colm, who is in charge of Bosch operations in Europe, Russia, the Middle East and Africa, said Turkey was among the important solar markets with long sunshine periods along with Italy, Spain and North Africa, and Bosch expected to achieve considerable growth and revenues in the country. Although there would be intense competition from Chinese, European and US sector players, Bosch can not afford to miss the opportunities that Turkey offers, Colm added.

According to Colm, Bosch plans to pour additional EUR 400 million (USD 572.1m) in its existing business including the proposed solar business in Turkey by 2013. The investment is seen to create 1,000 jobs.

The company generated EUR 1.7 billion revenue in Turkey in 2010, mainly from domestic sales and exports of household appliances.

(EUR 1 = USD 1.430)

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