German automotive technologies company Robert Bosch GmbH said Wednesday it plans to acquire Astrim Energia S.r.l., an Italy-based energy service provider.
German automotive technologies company Robert Bosch GmbH said Wednesday
it plans to acquire Astrim Energia S.r.l., an Italy-based energy service
provider.
Astrim Energia, one of the ten largest energy providers in
Italy
,
generated sales of around 31 million euro ($42 million) in 2011. The heat and
power generation technology company serves the public sector as well as hotels,
hospitals, and shopping malls.
The acquisition is subject to approval by antitrust authorities.
Bosch, one of the world's top auto parts suppliers, began investing in the
renewable energy sector over the past years, especially solar, to reduce
dependence on the car market. But the company had losses and write-downs of
around EUR1 billion in its solar operations in 2012, after price erosion and
over capacity led to factory closures.
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