© bosch Electronics Production | January 03, 2018
Bosch completes the sale of its starter motor division
At the end of 2017, Bosch has successfully sold its subsidiary SEG Automotive Germany GmbH, the former Robert Bosch Starter Motors Generators Holding GmbH, together with all subsidiaries.
The purchaser of the division is ZMJ (Zhengzhou Coal Mining Machinery Group Co., Ltd.) in Zhengzhou, China and CRCI (China Renaissance Capital Investment) in Hong Kong, China. All necessary approvals, including merger control clearance, have already been obtained. Thus, from January 1, 2018 the former division – along with all the 8’000 associates worldwide, at 16 locations in 14 countries – are part of the new company “We have achieved our goal and found a purchaser offering a viable industrial concept and a long-term perspective for successfully taking this business forward internationally, and thus for associates,” says Dr. Rolf Bulander, chairman of the Mobility Solutions business sector and member of the management board of Robert Bosch GmbH. Commenting on the sale, he says: “I am confident that, in this new constellation, the division can seize its opportunities for a positive future.” ZMJ, the new owner, already operates in the automotive supply sector via various subsidiaries. For starter motors and generators, as well as in its capacity as a manufacturer of engine components for commercial vehicles and passenger cars, ZMJ is a major Chinese automotive supplier. As ZMJ’s long-standing business partner, the financial investor CRCI will support the company in this acquisition as well. Bosch signed a sales agreement with ZMJ and CRCI in May 2017.
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