Quantcast
Latest Stories

Power tools firm opens Cebu hub

Bosch exec: Growing property market fueled by strong middle class prompts expansion

By

The booming construction and automotive sectors in the region have prompted a multinational power tools company, Bosch, to open an outlet in Cebu.

“Our decision to setup a business hub here 85 years after we opened in Manila was prompted by the positive growth we saw in the market. We expect to grow and expand further given the very positive business climate in the country as confirmed by the recent investment rating,” said Martine Hayes, Bosch Southeast Asia president.

Hayes was referring to Bosch 25 square-meter- shop at Lopez Jaena Street in Mandaue City.

He said that the Southeast Asian region which the Philippines is part of is the fastest growing region for their brand with the country being one of the biggest market to tap with a population base of at least 90 million.

Joseph Hong, managing director of Bosch Philippines, said they first introduced their brand in the country in 1928 and had since built up a strong distribution network of dealers in the area.

“We currently have at least seven dealers here for the power tools alone which have at least 20 shops spread across Cebu,”said Willian Go, sales director for Power Tools.

He also cited the reason for opening an outlet in Cebu.

“With the many construction activities and evidently more car dealerships opening in Cebu fueled by the expanding middle income segment here means more disposable income to spend on cars and homes. With this, we think it is even more relevant for us to finally open a hub that will cater not only to Cebu but to other areas in the region,” Hong said.

real estate growth

Last year, commercial, office and residential components of the real estate market all registered a positive growth that translates to more construction activities, which is a rich market for Bosch power tools.

About 80,000 square meters of office space was added to Cebu last year, according to Cebu Real Estate Market Update by Colliers International.

There are also 16 malls now in Cebu with over 600,000 square meters of space and more are currently being constructed across Cebu.

Aside from the construction industry, Hong said they were also looking into booming sectors like the automotive industry.

Sangjo Park, country sales director for Bosch, said early this year they opened two outlets serving automotive industry in Cebu—Bosch Car Service Workshop and Bosch Diesel Service.

“The domestic demand for automotive products is expected to remain robust this year because of the expansion of the middle income market which are now buying cars,” said Park.

Based on the figures from the Chamber of Automotive Manufacturers of the Philippines, sales for automotive products registered an 11 percent growth last year or 156,659 car units sold last year compared to only 141,170 in 2011.

As of first quarter this year, sales has also already poseted a 29.3 percent growth or 41,702 units sold.

Bosch, a North American company,  has four business divisions which includes consumer goods, automotive technology, industrial technology and energy and building technology and is available in 150 countries worldwide.


Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Bosch , Business , Cebu , expansion




Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
  1. Fr. Suarez says last Mass on Easter before returning donated land to San Miguel
  2. Chinese lawyers say they were tortured by police
  3. Hair salon’s Kim Jong Un poster riles embassy
  4. Siquijor ‘healer’: For every cure, there’s a plant
  5. State seeks guilty verdict for Abalos
  6. Why college grads end up in the PNP
  7. Estrada: I will pray for my detractors
  8. Miraculous image makes Gapan City top site for pilgrimage in Central Luzon
  9. I’ll follow my conscience on Estrada, says JV Ejercito
  10. Five men from Cavite found dead in jeep in Batangas
  1. Suspect in Vhong Navarro mauling tries to leave PH
  2. MH370 co-pilot made mid-flight phone call – report
  3. Netizens cry: 6/55 Lotto was rigged
  4. I’ll follow my conscience on Estrada, says JV Ejercito
  5. ‘Wife of Jesus’ theory papyrus not fake – Harvard study
  6. Fr. Suarez says last Mass on Easter before returning donated land to San Miguel
  7. Gay college instructor arrested for oral sex with student
  8. ‘King’ Yabut and I: Driver bares Makati dad ‘abuses’
  9. It was difficult having Japanese blood
  10. Palace: We can’t blame increase in population on Vitangcol
  1. KL confirms Malaysian Airlines Flight MH370 ended in Indian Ocean
  2. MRT passengers pass the hat for 6-year-old Ashley
  3. Pork payoffs to newscasters Erwin Tulfo, Del Prado, others bared
  4. UP back on top as ‘average’ student aces bar
  5. Rookie, lady cops lauded for quick response to MOA heist
  6. Model Helena Belmonte wished ‘to slash her wrist and hope to die’
  7. Malaysia averts another air tragedy; pilot lands troubled plane safely
  8. Revilla says he was joking; Lacson stands by his story
  9. Revilla ‘consulted’ Lacson on how he evaded arrest
  10. Police rule out foul play in Helena Belmonte’s death as boyfriend is ‘traumatized’
Advertisement

News

  • After quake, makeshift churches welcome pilgrims in Bohol
  • UN warns banana fungus spreading from Southeast Asia
  • Massive infra spending set
  • ‘No real progress in PH if dynasties not dismantled’
  • Cardinal Tagle to faithful: Join politics to clean it
  • Sports

  • Federer would skip tennis to be with wife, newborn
  • Manny Pacquiao in PBA? If so, he’ll wear No. 17
  • PSC sets Blu Girls US training
  • Power Pinoys settle for 7th place
  • Successful coaches to get raise
  • Lifestyle

  • ‘Labahita a la bacalao’
  • This is not just a farm
  • Clams and garlic, softshell crab risotto–not your usual seafood fare for Holy Week
  • Moist, extra-tender blueberry muffins
  • The truffled mac ‘n’ cheese, eggs benedict, chicken leg confit are excellent
  • Entertainment

  • Why Lucky has not bought an engagement ring for Angel
  • Derek more private with new girlfriend
  • ‘Community’ star happy with return of show’s creator
  • Jealousy is kid stuff
  • Mommy-daughter adventure continues
  • Business

  • PH presses bid to keep rice import controls
  • PSEi continues to gain
  • Number of retrenched workers rose by 42% in ’13
  • PH seen to sustain rise in FDIs
  • Gov’t subsidies to state firms fell in first 2 months
  • Technology

  • Smart phone apps and sites perfect for the Holy Week
  • Tech company: Change passwords or suffer ‘Heartbleed’
  • Filling the digital talent gap
  • SSS to shut down website for Holy Week
  • Another reason to quit social media this Holy Week: your safety
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • First Fil-Am elected to Sierra Madre, Calif. city council
  • UC Irvine cultural night to dramatize clash of values in immigrant family
  • Filipino sweets and info served at UC Berkeley Spring Fest
  • Milpitas, California kids wrap up a successful run of ‘The Wiz’
  • Netizens welcome Japan’s visa-free travel plan
  • Marketplace
    Advertisement