Brose group deals in mechatronics components and develops various mechanisms for vehicle seats, doors, and other automotive parts. It has its operation in 23 countries and handles 60 locations. There are approximately 80 renowned customers and other suppliers of Brose.
The company has spurred its business volume by 150% over the last 10 years, to be precise €6.1 Billion (Rs 46,628 Crore), and now it is focused on the rapid growth.
Chairman of the Brose Group, Michael Stoschek, said, “We see loads of prospects to gain over €8 Billion (Rs 61,152 Crore) in the coming five years. Brose, which is a family-owned parts supplier, aims to conquer the goals by promoting its strength in China and presenting its range of products that will meet the futuristic demand. Acquisitions can also help the part manufacturer to reach the figure of €10 Billion (Rs 76,440 Crore).
The company has so far invested around €370 Million (Rs 2,828 Crore) for the expansion and building of its business in 2016. The company also has a headquarter in Shanghai, China, as well as the manufacturing facilities in Prievidza, Slovakia and Querétaro, Mexico, are under construction. With the inclusion of these facilities, the count of the global production facilities reaches to 51 plants. It has invested about €500 Million (Rs 3,822 Crore) on the research and development activities, which was 6% more than that was spent in the year prior to this. It has a huge workforce of 3,200 technicians and engineers working on the development and manufacturing. Moreover, to meet the future-based requirement, it has also recruited more 400 new employees. In totality, the family-owned Brose, till date has more than 25,000 employees globally and about 8,600 of them work in Germany.
It has projected to invest €1 Billion in the development of new products, spreading its network in international markets, enhancing technical equipment by 2019. In addition, €2 Billion will spend on acquisitions to widen the company’s range of products.
Focusing on the trending autonomous technology, Brose is presently working on new adjusters for doors that can operate automatedly and rotating seats. It is also focusing on the development of advanced air-conditioning systems for EVs. The component maker will also present its product range and concepts that are associated with the “The Future of Mobility” at International Motor Show in Frankfurt this year.
As per Brose, China dominates the global automotive market and company wants to tap that market by launching products that will be favorable for Chinese car makers.