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Bosch to acquire U.S. automotive firm
SPX Corp. has agreed to sell its service solutions unit, which manufactures tools, workshop equipment and software for the automotive market.
- January 24, 2012
- News Release
- Metalworking
BERLIN—Engineering company Robert Bosch GmbH will buy the automotive services division of U.S.-based SPX Corp. for about $1.15 billion.
Charlotte, N.C.-based SPX service solutions’ unit develops and manufactures tools, workshop equipment and software for the automotive market.
Robert Bosch GmbH said SPX is expected to post sales of about $920 million for 2011. The company employs 2,700 people in 17 countries, primarily in the U.S., Germany, France and China.
Bosch has 285,000 employees worldwide and posted revenues of about $47.3 billion and a net profit of $2.5 billion in 2010.
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