Milliardendeal: Bosch buys climate system business from US firm JCH
Johnson Controls Hitachi (JCH) is a joint venture between the industrial conglomerate Johnson Controls and the Japanese Hitachi Corporation. It is active worldwide in the heating, ventilation and air conditioning (HVAC) market for residential and small commercial buildings. Bosch will acquire JCH to 100% and thus also a 40% stake in Hitachi. "Subject to regulatory approvals" is aimed for the acquisition to be completed within twelve months.
Bosch referred to the presumably growing market both for air conditioning systems and for heat pumps, which are based on the same technology in the core. "Technological progress, the fight against climate change and new regulations are drivers for this," explained the company. With the acquisition, "we will strengthen our presence in the USA and Asia," said Bosch CEO Stefan Hartung.
The climate and heating systems business will become part of Bosch's core business in the future - customers, installation partners and employees will benefit from this, explained Bosch's co-CEO Christian Fischer. JCH will be integrated into Bosch's existing building technology division, which will grow from currently 14,600 to over 26,000 employees as a result.
- Bosch, a renowned technology conglomerate based in Stuttgart, has announced a billion-dollar-deal to acquire 100% of Johnson Controls Hitachi (JCH), a joint venture between Johnson Controls and Hitachi Corporation.
- This billion-dollar-deal will also grant Bosch a 40% stake in the Hitachi Corporation, furthering their business partnership.
- The acquisition of JCH, a company active in the heating, ventilation, and air conditioning (HVAC) market, will significantly boost Bosch's presence in the USA and Asia.
- Hitachi Corporation, a Japanese technology conglomerate, has been a key player in the climate technology business, and their partnership with Johnson Controls has been instrumental in this sector.
- With this deal, Bosch aims to integrate JCH into its existing building technology division, which currently employs 14,600 people, resulting in a significant workforce expansion to over 26,000.
- Bosch's CEO, Stefan Hartung, expressed his expectation that the newly acquired climate and heating systems business will contribute positively to Bosch's core operations, benefiting both customers and installation partners alike.
