Bosch Group eyes Vitenam expansion

Bosch Vietnam, a subsidiary of auto parts supplier Bosch GmbH, released its 2009 business plan on May 19. The company said it aims to expand its presence in Vietnam this year through partnerships and will allot a substantial part of its budget for advertising and the expansion of its distribution network. After announcing its plans, the company signed its first automotive training agreement with Cao Thang Technical College (CT), pledging to provide free education to six CT trainers and letting them train their students using curricula, content and methodology developed by Bosch. In April 2008, the group announced its first investment in a high-tech automotive parts production facility for push-belts used in Continuously Variable Transmission (CVT), located on a 160,000 square mile area at Long Thanh Industrial Park in southern Dong Nai province. Once fully operational in 2016, the facility is estimated to require total investment of €55 million (US$78.8 million).> (May 20, 2009)