HCM CITY (Biz Hub) — Bosch, a leading global supplier of technology and services, announced a nine per cent growth in net sales during 2014 fiscal year to reach US$50 million.

Total net sales, including sales to non-consolidated companies and internal deliveries to affiliated companies, increased around 20 per cent compared to the previous year, to reach $340 million.

"Our diverse range of products and services enables us to address Viet Nam's rising consumer and industrial markets," said Vo Quang Hue, managing director of Bosch in Viet Nam. "We remain optimistic about our growth here as we will continue to introduce innovative technologies and expand our R&D capabilities in the coming years."

The company runs its Bosch Gasoline Systems Plant, which produces Continuous Variable Transmission (CVT) pushbelts. It continues on its growth path thanks to an increased demand from automotive manufacturers across Asia, apart from two R&D centres in Viet Nam. — VNS