Bosch Closes the Acquisition of Measuring Tool Business From Stanley

Tag : DIY Power Tool
Bosch Closes the Acquisition of Measuring Tool Business FromStanley
CHICAGO, July 25 /PRNewswire/ -- Bosch has completed its previously announced acquisition ofCST/berger from The Stanley Works. The acquisition, which wasannounced to investors on June 11, 2008, paves the way for Bosch tostrengthen its presence in the rapidly growing global measuringtechnology market. Located in West Lafayette, Ind., CST/berger is aleading manufacturer of laser, optical leveling and alignmenttechnologies for professional users and do-it-yourself (DIY)customers.
"We are very excited to be adding the full line of CST/bergermeasuring tools and leveling equipment to our power toolsportfolio," said Manfred Seitz , chairman, president and CEO of Robert Bosch Tool Corporation."This acquisition is part of our strategic direction to meetcustomer needs by providing a more complete offering of innovativetools, and the diverse range of more than 1,000 CST/berger productssignificantly extends the Bosch position in the measuringtechnology market."
Virtually no other competitor is able to offer a comparableportfolio of products, solutions, and strong brands on a worldwidescale as the new combination of Bosch and CST. "Bosch and CSTbrands complement each other nearly perfectly in addressing thewidest range of measuring and laser leveling user needs," said AshPuri, the former CEO of CST/berger who will take the worldwideresponsibility for the future Measuring Tools business unit ofBosch Power Tools.
Bosch products are engineered to deliver precision distancemeasurement, leveling and detection, and make working easier forprofessional users and DIY customers. Bosch has sold one millionDLE 50 Professional Range finders to date, further proof that Boschis a trusted partner within the industry. With the combination ofBosch products and the CST/berger portfolio, a new Bosch PowerTools business unit for Measuring Tools will be formed.
The Bosch Power Tools division, comprised of power tools,accessories, garden tools, and measuring technology, generatedsales of $4.2 billion in 2007. The division employs a globalworkforce of approximately 16,000 associates.
The Bosch Group is a leading global supplier of technology andservices. In the areas of automotive and industrial technology,consumer goods, and building technology, some 271,000 associatesgenerated sales of over 46.3 billion euros (over $63 billion) infiscal 2007. The Bosch Group comprises Robert Bosch GmbH and itsmore than 300 subsidiaries and regional companies in roughly 50countries. This worldwide development, manufacturing, and salesnetwork is the foundation for further growth. Each year, Boschspends more than 3 billion euros for research and development, andapplies for over 3,000 patents worldwide. The company was set up inStuttgart in 1886 by Robert Bosch (1861-1942) as "Workshop for Precision Mechanics and ElectricalEngineering."
In North America, the Bosch Group manufactures and marketsautomotive original equipment and aftermarket products, industrialautomation and mobile products, power tools and accessories,security technology, thermo-technology, packaging equipment andhousehold appliances. Bosch employs approximately 25,000 associatesin more than 70 locations throughout the U.S., Canada and Mexico,with reported sales of $9.5 billion in fiscal 2007.
For more information on the company, visit www.boschusa.com .
SOURCE The Bosch Group