 arajguru writes "Deal aimed at securing 10% share of US$ 5 billion regional household appliances market Germany's BSH Bosch and Siemens Hausgerate GmbH and UAE's Mohamed Hareb Al Otaiba Group entered into a five-year strategic alliance to increase their market share in the regional household appliances sector.
Germany & UAE, March 31, 2006 (XTVWorld.Com) -- The alliance is designed to help the two companies secure a 10% share of the region's nascent household appliances sector estimated at AED 18.35 billion (US$ 500 million).
MHAO Vice Chairman, Ahmed Hareb Al Otaiba and Bosch's Managing Director, Heiko Fischer signed the agreement disclosing their joint plans for the region.
Speaking on behalf of MHAO, Mr. Al Otaiba said, "We have been partners for almost
three decades now and this deal reinforces our relationship as we strive to enlarge our retail business as well as the re-export trade."
"We will open more showrooms over the next five-year tenure alongside full-fledged service centres spread across Dubai and other emirates as we service our existing base of customers and develop an impressive pool of new customers," Mr. Al Otaiba remarked.
Bosch household appliances have always been known for their reliability and long service.
Over the years, BSH Bosch and Siemens Hausgeräte GmbH (50% Bosch-owned) has become a successful international provider of the full range of household appliances.
"Bosch with its household appliances business within the BSH Bosch and Siemens Hausgeräte GmbH joint venture has around 50,900 business associates worldwide, and this division generated sales of AED 32.5 billion (US$ 9 billion) in 2004," remarked Mr. Fischer.
"Our recent alliance with MHAO is planned to develop
stronger business relations in the region as we increase our market competitiveness and pre-emptively build the competencies and partner network to tap opportunities," Mr. Fischer stated.
Bosch regards innovation as something more than exceptional product quality, functionality and design. Not only our technical developments, but also our commitment to society has an effect on the world of tomorrow.
Mohammed Hareb Al Otaiba Group was founded in 1946 and comprises one of the most powerful
portfolios in the UAE that are handled by key divisions including Domestic Appliances Division, Leisure & Fitness Division, Office Automation Division and Commercial Kitchen and Laundry Equipment Division.
MHAO is a multi-dimensional business house with a widespread customer base and is poised for a phase of high business growth. The MHAO Group's success is primarily attributed to excellent technical support and after-sales service provided by the division to its clients.
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