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Bosch to Acquire Brazilian Solar Hot Water Equipment OEM
May 31, 2012
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=Bosch's Thermotechnology Division plans to acquire Heliotek Maquinas e Equipamentos Ltda., based in Sao Paulo. The Brazilian company manufactures solar thermal systems and heat pumps for domestic hot water heating.

A May 28, 2012 agreement was signed in Sao Paolo by Bosch; Monier Group, which holds 51% of shares in Heliotek; and by owners of the remaining 49% of shares. The purchase price was not disclosed. Heliotek has 2011 revenues of about 12 million euros and employed some 120 people.

Heliotek develops and produces solar thermal systems and heat pumps for domestic hot water heating in small and large residential buildings as well as for commercial applications such as hotels, schools, and sports centers. The products are manufactured in Alphaville and marketed through a distribution network of some 200 dealers throughout Brazil.

"Heliotek's solar thermal systems and heat pumps for domestic hot water heating ideally complement our existing product portfolio in Brazil in the gas water heating and air-conditioning segments. The company's distribution channels will give us access to one of the most promising solar thermal markets of the world," said Uwe Glock, president of Bosch's Thermotechnology Division. "Heliotek will be expanded to a regional competence centre of Bosch's Thermotechnology Division in Latin America and will cooperate with the other worldwide Bosch Thermotechnology locations to make an important contribution to the development of sustainable and resource-efficient technologies."

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