Bosch and Weifu High Technology to set up a joint venture.

Bosch, a machinery manufacturer, and Weifu High Technology, an automotive component manufacturer, agreed to set up a joint venture for manufacturing and selling mobile hydraulic products in the Chineese market. Financial terms were not disclosed. “With 38 years of strategic cooperation, Bosch and Weifu have achieved a trustful and successful business relation as well as deep mutual understanding, especially in the mobility solutions business sector. Today, we take another step forward in terms of the establishment of a new joint venture which focuses on the industrial business. This is definitely a significant milestone. I’m fully convinced that we can achieve the objectives, not only because of a feasible stepwise progress plan, but also with a wide fit-tomarket portfolio and high competence. The cooperation will open a big new chapter for Bosch, Bosch Rexroth and Weifu," Wang Xiaodong, Weifu Chairman.