Kommersant learned about Bosch’s plans to sell two plants in Russia
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The Russian structure of the German company Bosch (BSH Household Appliances LLC) is looking for buyers for two plants near St. Petersburg. About it informs Kommersant, citing a source in the Russian electronics market.
These factories produce refrigerators and washing machines. It is specified that the Russian division received most of the components from the EU. According to the interlocutor, in working condition, the factories can be sold for €65-75 million. However, now the enterprises do not produce products, therefore they cost “many times less,” the source expressed confidence.
Another source of the newspaper confirmed that Bosch is currently looking for a buyer for Russian assets. According to him, the company does not understand how to deal with idle capacities in Russia.
A representative of Marvel Distribution suggested that a Chinese or Turkish appliance manufacturer could become the new owner of the factories, as was the case with Whirlpool. At the end of June, the company’s plant in Russia bought Turkish Arcelik. Another interlocutor of the publication clarifies that Chinese brands Hisense and Midea may be among potential buyers. According to her, the latter company has “long wanted to be localized in Russia.”
In mid-March, Bosch suspended the production of equipment at factories near St. Petersburg. The reason was the violation of the supply chain due to the sanctions imposed by the US and the EU against Russia after the start of Russia’s special operation in Ukraine. Restrictive measures included a ban on the supply of equipment and components to the country. According to information on the official website of the company, according to the results of the 2019 financial year, the turnover of the Bosch group in Russia amounted to €1.18 million.
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