Brazil. The thermotechnics division of Bosch announced the acquisition of the Brazilian company Heliotek Máquinas e Equipamentos Ltda., which is dedicated to the manufacture of solar panels and heat pumps.
As reported by local media, the purchase contract was signed by Bosch, Monier Group, owner of 51% of Heliotek, and the other partners of the acquired company, this week, although the transaction is still awaiting approval by the country's regulatory bodies.
Although the parties agreed not to disclose the value of the sale, it is public knowledge that Heliotek generated revenues close to 12 million euros in 2011 and one of its strengths is to have a network of 200 dealers throughout the country to distribute its products.
Precisely, the above was one of the main reasons for Bosch to be interested in the company. With this acquisition, it hopes to strengthen its presence in Brazil and access an increasingly interesting market: that of solar thermal energy.
Uwe Glock, President of Bosch's Global Thermotechnics Division, explained: "Heliotek will complement our existing product portfolio in Brazil in the heating and air conditioning sectors. In addition, the company's distribution channels will give us access to one of the most promising solar thermal energy markets in the world."
