The rumour that has being doing the rounds of the German trade press regarding ownership of the BSH Group (Bosch Siemens Home Appliances) has finally been confirmed with an announcement published in the Elektro Journal that Bosch is to buy the 50 percent share of the group owned by Siemens for a reported €3.0 bil.
The deal, which needs to be approved by the relevant anti-trust authorities, is expected to be completed by the first half of 2015. Bosch will retain the right to use the Siemens brand name on household appliances.
Bosch Siemens Home Appliances was formed as a 50-50 partnership in 1967 and in addition to these two brands the group is responsible for the distribution of the Neff and Gaggenau brands in the UK and a further 10 brands including Constructa, Thermador and Balay in other trading areas throughout the world.
The Bosch Group, which is also one of the largest auto parts suppliers in the world is said to want to focus more and more on networked appliances such as washing machines or refrigerators that are technically able to communicate with the Internet and can be controlled via smartphones, reports the Elektro Journal.
With Bosch retaining the right to sell Siemens-branded appliances, it would seem that it is business as usual as far as kitchen appliances in the UK are concerned, certainly in the immediate future.