Bosch expects sales to surpass €50B in 2011

The Bosch Group, parent company of Bosch Security Systems, announced Thursday that it expects sales to surpass the €50 billion mark for the first time in 2011. In the first three months of 2011, the company reported that its sales were up by roughly 15 percent.

The company said that it plans on increasing its workforce by 15,000 by the end of 2011 to some 300,000 employees worldwide. More than half of these jobs, including 5,900 in China, will be created in the Asia Pacific region. One thousand jobs will be added in North America.

In addition to making products, Bosch’s security systems division is also looking into growing its business with services, according to a statement.

Despite the devastation created by the earthquake and subsequent tsunami that struck the Japanese coast last month, no Bosch employees were among disaster victims and physical damage to company’s 36 facilities in the country was limited.

"Our expectation at present is that the consequences of the Japanese earthquake will only put a temporary brake on the growth of the world economy," said Franz Fehrenbach, chairman of the Bosch board of management.