Bosch Helping Out In Japan Hot
Bosch makes one million euros of immediate aid available for Japan
Initial support for victims of catastrophe; further activities to follow in due course
03.24.2011– FARMINGTON HILLS, Mich. – The Bosch Group is making one million euros ($1,422,100 USD) available as immediate aid for the victims of the earthquake and tsunami in Japan. This will support the relief work being carried out currently in the country by the Japanese Red Cross. Further measures will be taken once there is a clearer picture of the extent of the damage and of the reconstruction work that needs to be done.
Bosch North American associates have been encouraged to contribute to their local Red Cross.
"The catastrophe in Japan deeply shocked us all at Bosch. This donation is a token of our deepest sympathy," said Franz Fehrenbach, chairman of the Bosch board of management. He added that one could at present only guess at the actual extent of the destruction. For this reason, he explained, Bosch intended to postpone any decision as to how Bosch could best help the country and its people in the work of reconstruction.
Bosch has been present in Japan for 100 years. The company currently employs some 8,000 associates in the country, at 36 locations. They develop and manufacture products for divisions in the Automotive Technology, Industrial Technology, and Consumer Goods and Building Technology business sectors.
Join Bosch in donating to Japanese relief efforts - Make a $10 donation by texting REDCROSS to 90999
Big props to Bosch. You may not know this, but Robert Bosch GmbH is practically non-profit. It might be hard to believe, but 92% of Bosch is owned by the Robert Bosch Charity Foundation. Of the profits, the money that is not reinvested back into the company, the rest goes to charity and a small portion to the Bosch family.
[For example, in 2004, the net profit was US$2.1 billion, but only US$78 million was distributed as dividends to shareholders. Of that figure, US$72 million was distributed to the charitable foundation, and the other US$6 million to Bosch family stockholders. The remaining 96% of the profits were invested back into the company. In its core automotive technology business, Bosch invests 9% of its revenue on research and development, nearly double the industry average of 4.7%.] - Wikipedia