World News

Industry news and insights from Europe and around the World

UK News

Latest news and developments in the United Kingdom

Products

Keep up-to-date with the latest new products and technology

Features

General articles, applications and industry analysis

Bosch sees leading HVAC role with JCH purchase

GERMANY: Bosch has described its €7.4bn acquisition of the Johnson Controls-Hitachi Air Conditioning (JCH) joint venture as the biggest transaction in the company’s history, doubling its Home Comfort business.

Commenting on yesterday’s announcement, Stefan Hartung, chairman of the board of management of Robert Bosch GmbH, called it “an important milestone in the systematic implementation” of the company’s strategy for 2030. 

“We are dynamically pushing ahead with the strong development of Bosch, and will achieve a globally leading position in the promising HVAC market with this acquisition. In taking this step, moreover, we will strengthen our presence in the US and Asia and achieve a better balance among our business sectors.”

Together with JCH, the businesses Bosch intends to acquire generated sales revenue totalling roughly €4bn in 2023, and employs some 12,000 people worldwide. The transaction includes 16 manufacturing sites and 12 engineering locations in more than 30 countries. 

“With this acquisition, Bosch will accelerate its growth and nearly double its sales revenue in the HVAC market to roughly €9bn,” claimed Christian Fischer, the deputy chairman of the board with responsibility for the acquisition. “Together with our future colleagues, we want to seize the huge opportunities offered by the market for the further growth of this new unit.” 

Frank Meyer, the Bosch board member responsible for the Energy and Building Technology business sector, revealed: “It is Bosch’s aim to play an active part in shaping the innovative and growing market for energy and building technology, and to occupy a globally leading position. 

“With this acquisition, we are improving our position, especially in air conditioning. In addition, we will be able to globally expand our heat-pump business and achieve greater economies of scale.”

The 14,600 associates of the existing Bosch Home Comfort Group generated sales of roughly €5bn in 2023. Following the transaction, the new unit will have a workforce of more than 26,000 and be able to benefit considerably from economies of scale and a complementary portfolio at the interface between heating and cooling. 

Jan Brockmann, president of the Bosch Home Comfort Group, said: “Now is the right time for a bold step toward a global presence. Demand for air conditioning solutions is growing especially fast.” 

In the US, for example, Bosch says it expects to see more than 50% growth by the end of the decade, and in Europe as well, strong growth of approximately 30% is forecast up to 2030.

Related stories:

JCI-Hitachi confirms $8.1bn JV sale to Bosch23 July 2024
JAPAN/USA/GERMANY: Johnson Controls and Hitachi have confirmed an agreement to sell their European air conditioning joint venture business to German manufacturer Robert Bosch in an $8.1bn deal. Read more…

Latest News

10th February 2025

Carrier expands apprenticeship programme

UK: Carrier is building on the launch of its academy in Bracknell last year, and the appointment of an apprenticeship programme lead, by recruiting at least 17 apprentices this year.
10th February 2025

HPA publishes heat pump service checklist

UK: The Heat Pump Association (HPA) has introduced a guidance list of recommended minimum annual service checks for air-, ground- and water-source heat pumps. 
9th February 2025

Samsung stars at the Junction

UK: Samsung has delivered state of the art heating and cooling to a new bar, restaurant, cafe, and social workspace within Manchester Central, the city’s convention centre. 
9th February 2025

Loop offers heating and cooling retrofit option

UK: Panasonic has introduced its Aquarea Loop, a decentralised water-to-air heat pump designed for optimal energy efficiency that was first revealed at Chillventa last year.
9th February 2025

Scammer turns illegal refrigerant into water

POLAND: A warning issued by the police in Poland has exposed the level of ignorance of refrigerants and the F-gas regulations that exists in some European member states.
9th February 2025

More space available at HRS show

UK: Having previously raised the sold out signs for its forthcoming exhibition, the Hampshire Refrigeration Society (HRS) has now announced the availability of extra space.