OREANDA-NEWS. June 27, 2016. “The EU is a successful project. We very much regret the decision to take the U.K. out of the world’s largest single market, and this not only for economic reasons. The long-term economic consequences will only become apparent gradually. We are currently examining the effects Brexit will have on our business. At present, it is still too early to say anything concrete. Clearly, this also depends on the exit terms that are negotiated. As we are traditionally well-represented in many European markets, we will likely be less severely affected than companies that use the U.K. as an EU bridgehead. In addition, we have already put precautionary measures in place. For example, we have significantly raised our hedging ratios in order to counteract a possible depreciation of the British pound. We currently do not have any plans to scale back our capital expenditure in the United Kingdom.”

Bosch in the United Kingdom
Bosch has been active in the country since 1898. With sales of some 3.7 billion euros in 2015, the U.K. is currently Bosch’s second largest European market after Germany. In total, Bosch employs some 5,300 associates at 40 locations (including seven manufacturing locations) in the United Kingdom. All four business sectors – Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology – have operations there.