| Bosch purchases measuring tool business from Stanley |
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12/06/2008 02:18 (527 Day 01:33 minutes ago) | |||||
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The FINANCIAL -- Bosch is boosting its power tools business with another acquisition: the group will acquire CST/berger, a division of the publicly traded U.S. company The Stanley Works.
With this purchase, Bosch is further expanding its product portfolio in the rapidly growing global measuring tool segment, above all in the U.S. market. The transaction is subject to regulatory approvals. The purchase price amounts to 205 million U.S. dollars (roughly 132 million euros).
With headquarters in West Lafayette, Indiana, USA, CST/berger is a leading manufacturer of laser and optical leveling as well as alignment technologies for professional and do-it-yourself customers (DIY). Its broad product portfolio includes leveling and surveying tools. CST/berger employs approximately 350 associates in the United States, Germany and Italy. In 2007, sales were 90 million U.S. dollars. With CST/berger, David White, and Rolatape, the company is home to several well-known brands.
"In acquiring CST/berger, we are significantly strengthening our position in the U.S. market of measuring tools. The purchase is an excellent addition to our world-wide product portfolio" said Uwe Raschke, president of the Bosch Power Tools division. "Therefore, we will continue our strong progress in our business with measuring tools," Raschke said. In 2007, measuring tools for professionals and do-it-yourselfers were the fastest expanding power tool segment, with growth well into double-digit figures. At the end of 2007, Bosch acquired RoboToolz, a company which also manufactures innovative laser leveling products.
Measuring tools such as laser measuring devices, detection devices and laser leveling tools make it easier for professional and DIY customers to plan and perform work. For example, gradients, angles, or distances can be measured precisely. Bosch also currently offers innovative solutions in the growth market for measuring tools. For professional users, for example, the company offers the world's smallest laser measuring device, which is just ten centimeters long.
With power tools, accessories, garden tools, and measuring technology, the Bosch Power Tools division generated sales of 3.1 billion euros in 2007. Of this total, 90 percent was generated outside Germany. The division employs a global workforce of approximately 16,000 associates.
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