Bosch has completed its previously announced acquisition of CST/berger from The Stanley Works. The acquisition, which was announced to investors on June 11, paves the way for Bosch to strengthen its presence in the rapidly growing global measuring technology market. Located in West Lafayette, Ind., CST/berger is a leading manufacturer of laser, optical leveling and alignment technologies for professional users and do-it-yourself (DIY) customers.
"We are very excited to be adding the full line of CST/berger measuring tools and leveling equipment to our power tools portfolio," said Manfred Seitz, chairman, president and CEO of Robert Bosch Tool Corporation. "This acquisition is part of our strategic direction to meet customer needs by providing a more complete offering of innovative tools, and the diverse range of more than 1,000 CST/berger products significantly extends the Bosch position in the measuring technology market."
Virtually no other competitor is able to offer a comparable portfolio of products, solutions, and strong brands on a worldwide scale as the new combination of Bosch and CST. "Bosch and CST brands complement each other nearly perfectly in addressing the widest range of measuring and laser leveling user needs," said Ash Puri, the former CEO of CST/berger who will take the worldwide responsibility for the future Measuring Tools business unit of Bosch Power Tools.
Bosch products are engineered to deliver precision distance measurement, leveling and detection, and make working easier for professional users and DIY customers. Bosch has sold one million DLE 50 Professional Range finders to date, further proof that Bosch is a trusted partner within the industry. With the combination of Bosch products and the CST/berger portfolio, a new Bosch Power Tools business unit for Measuring Tools will be formed.
The Bosch Power Tools division, comprised of power tools, accessories, garden tools, and measuring technology, generated sales of $4.2 billion in 2007. The division employs a global workforce of approximately 16,000 associates.
The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 271,000 associates generated sales of over 46.3 billion euros (over $63 billion) in fiscal 2007. The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiaries and regional companies in roughly 50 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. Each year, Bosch spends more than 3 billion euros for research and development, and applies for more than 3,000 patents worldwide. The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as "Workshop for Precision Mechanics and Electrical Engineering."
In North America, the Bosch Group manufactures and markets automotive original equipment and aftermarket products, industrial automation and mobile products, power tools and accessories, security technology, thermo-technology, packaging equipment and household appliances. Bosch employs approximately 25,000 associates in more than 70 locations throughout the U.S., Canada and Mexico, with reported sales of $9.5 billion in fiscal 2007.
