Bosch Acquires FHP
Germany-based Bosch recently bought Fort Lauderdale, Fla.-based FHP Mfg. Co., a manufacturer of electric geothermal heat pumps, to strengthen Bosch’s thermotechnology division. FHP will be integrated into that division, which is led by BBT Thermotechnik GmbH. FHP employs about 220 people and generated $51 million in fiscal year 2006.
This is Bosch’s second acquisition in the field of electric heat pumps; it bought Swedish IVT Industrier AB in January 2005.