The Bosch Thermotechnology Division will acquire boiler manufacturer Wuhan Tianyuan Boiler Co., Ltd., based in Wuhan, China, and its three subsidiaries. Both parties have signed off on the agreement and are awaiting official Chinese approvals. Financial details were not disclosed.
Wuhan Tianyuan has 620 employees and generated sales revenues of approximately EUR 16 million in the most recent fiscal year.
Wuhan Tianyuan meets the highest level of criteria of the China Special Equipment Inspection and was awarded the Grade A certification.
The company makes fire tube boilers, exhaust heat boilers, as well as water tube boilers for production of heating energy and process heat, with a capacity of up to 220 tons of steam per hour (or 138 megawatts). Water tube boilers dominate the Asian industrial boiler market and are used in manufacturing sector, hospitals, department stores, public facilities, hotels, and district heat networks.
“The acquisition of Wuhan Tianyuan will enable Bosch to add water tube boilers to its product portfolio,” said Uwe Glock, president of the Bosch Thermotechnology Division. Bosch currently markets fire tube boilers primarily in the European market. “The takeover will allow us to significantly expand our presence in China, India, and the ASEAN countries.
Wuhan Tianyuan markets its products in the Asian region through three subsidiaries, Wuhan Environment, WH Installation, and Wuhan Automation.
to Daily News