Bosch Packaging Technology invested in rapid growth in emerging markets in 2012, according to the firm.
Reporting on its annual results, the company said its performance in India in particular had been strong, with business growing at an annual growth rate of more than 30%.
“We expect this dynamic growth on the Indian subcontinent to continue in the coming years as well,” said Friedbert Klefenz, president of Bosch Packaging Technology.
The firm said it already earns one quarter of its revenues in Asia and said it expected to achieve double-digit growth rates there over the next five years.
New factory at Verna
Investment in the continent continued last year, with a new factory at Verna, in the Indian state of Goa, coming on stream in 2012 with a workforce of 120. In the next three years, Bosch Packaging Technology aims to double current annual production of 200 machines there.
The end of March would see the official inauguration of the third extension to its Hangzhou plant in China, in which the company had invested €7m said Klefenz.
“Because this is nowhere near enough, we already commenced operations at our second Chinese location in Chengdu, Sichuan province, at the end of 2011, and plan to hugely enlarge the site in a similar fashion.”
Eastern Europe and Africa
Other areas singled out for special mention because they were driving strong growth were Eastern Europe and Africa.
“Africa is becoming a market that merits a lot of attention. With our assembly site in Midrand, South Africa, we are already among the biggest packaging machinery manufacturers on this continent.”
Bosch Packaging Technology generated six percent of its total sales in Africa last year and the goal was to raise that figure to eight percent this year, it said.
‘Substantial market potential’
He added: “In Eastern Europe, and particularly in Russia, we discern substantial market potential and are keen to make the most of it in the years ahead.”
Elsewhere, in late 2012, Bosch Packaging Technology completed its acquisition of Ampack in Konigsbrunn, Germany, which has a workforce of 250.
Ampack’s portfolio comprises cup and bottle filling machines as well as dosing systems and peripheral machinery used to fill and package highly sensitive food such as milk products, cereals and products for babies and hospital patients.
North America, Europe, Latin America
Outside of its fastest growing areas, Bosch Packaging Technology said sales in North America grew “moderately” in 2012, while performance in Europe and Latin America was “satisfactory”.
Bosch Packaging Technology saw sales grow by 16% in 2012 compared with the previous year, from €791m to €914m. The company expects to grow its sales by high single digit percentage figures in 2013 and aims to reach sales of €1.5bn by the end of 2015.
Sales of machinery to the food industry currently represented half of packaging technology sales and demand was on the rise, said Klefenz.