Bosch sold plants in Engels to S8 Capital holding

S8 Capital Holding has completed the purchase of Russian assets of German Bosch in the city of Engels, Saratov Region. As part of the deal, the holding received 100% control over the plants for the production of spark plugs, power tools and a site for the production of heating boilers, Kommersant newspaper was informed by the press service of S8 Capital. In March 2022, local production and import of Bosch products to Russia were terminated. S8 Capital said that the work of enterprises will be resumed, and their employees will keep their jobs. In total, about a thousand people work at these sites. Also, within six months after the completion of transaction, rebranding will be carried out at the plants. "The new assets, in addition to our existing businesses, will expand production and scientific and technological cooperation between industrial sites, increase the level of their localization, as a result, increasing the efficiency of the production capabilities of the S8 Capital holding," said Thorsten Schubert, Managing Director of S8 Capital.

Recall that in July 2022, S8 Capital acquired the assets of American elevator manufacturer Otis. In addition, S8 Industrial Assets JSC, associated with the holding, signed an agreement to buy a stake in Continental, which owns a tire plant in Kaluga. Bosch concern began its activities in Engels in 1996. The enterprise produced a wide range of spark plugs, new types of wire harnesses, submersible fuel modules, and in 2011 it started production of in-line pumps.