Bosch predicts equal sales to last year
12/02/2008
Bosch Siemens has predicted that its 2008 profits will match that of last year, according to a source.
The appliance company has predicted sales growth similar to 2007, which was an increase of six per cent to 8.8 billion euros, reports AFX News.
Kurt Ludwig Guthberlet, chief executive of Bosch Siemens, which is a joint venture between Robert Bosch GmbH and Siemens AG, did not predict any results for net profit.
Mr Guthberlet said that around 14,000 jobs in the company's German factories would be maintained, which "is about the same amount we had when the company was founded 40 years ago."
He went on to tell the news agency that business in China and Russia was doing very well, as are the operations in Poland, Czech Republic and Ukraine.
Bloomberg has reported that Bosch Siemens is due to overtake
Electrolux as Europe's largest appliance manufacturer as
Electrolux struggles to maintain profits against rising costs.
