Motor Industries Company Ltd., (MICO) signs MoU with the Government of Maharashtra

Mumbai, November 21, 2005: Motor Industries Company Ltd., (MICO), the flagship company of the Bosch Group in India, reaffirmed its commitment to invest Rs. 550 crores in India over the next 3 years on Common Rail Injectors and expansion of DSLA injectors at its Nashik plant. Mico and the Maharashtra State Government have signed a Memorandum of Understanding (MoU) towards this today.

Expressing satisfaction with this investment in the State, Mr Vilasrao Deshmukh, Honourable Chief Minister of Maharashtra at this occasion said “India is an important market for the rest of the world as it promises to provide skilled labour and unmatched manufacturing facilities and capacities, and Mico and Bosch have top priority for investments in this country.” He stated “It is a matter of pride that the state of Maharashtra is seen as a potential manufacturing hub. We are happy with the company’s decision to further
invest in its facility in Maharashtra. This is a validation of the investor friendly policies, conducive climate for investment, skilled human resources and quick response time that the State offers. We will extend support and co-operation to the business operations of Bosch in
Nashik.”

Mico’s Nashik plant was established in 1972, has a 3000-strong employee base and has evolved into one of the world class manufacturing facilities in the Bosch world. Some of the main products manufactured at Nashik are nozzles and Nozzle Holder Assemblies. Progressive and industry-friendly policies of the State Government have helped the plant to make progress over the years. This MoU will further help the plant towards the path of progress.

Common Rail Diesel Injection System is one among the latest and advanced automotive technologies pioneered by Bosch. Mr Viswanathan, Joint Managing Director, Mico said “The Common Rail System has created a success story for Bosch over the past few years. Common Rail will contribute to making diesel cars cleaner, more economical, less noisy, and sportier than ever. The company is confident of a successful adoption of this technology in India.” He also reiterated that “The quick and supportive response from the Maharashtra Government to facilitate Mico’s investments in the State and the encouraging optimism that the Indian automotive components market is offering has driven us to invest Rs 550 crores towards the manufacturing facilities at the Nashik plant.”

About Bosch Group
The Bosch Group is a leading global manufacturer of automotive and industrial technology, consumer goods, and building technology. In fiscal 2004, some 242 000 associates generated sales of 40 billion euros. Set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering,” the Bosch Group today comprises a manufacturing, sales, and after-sales service network of some 260 subsidiaries and more than 10 000 service centers in over 130 countries.

The special ownership structure of the Bosch Group guarantees its financial independence and entrepreneurial freedom. It makes it possible for the company to undertake significant up-front investments in the safeguarding of its future, as well as to do justice to its social responsibility in a manner reflective of the spirit and will of its founder. 92% of the shares of Robert Bosch GmbH are held by the charitable foundation Robert Bosch Stiftung. The entrepreneurial ownership functions are carried out by Robert Bosch Industrietreuhand KG.

Additional information can be accessed at www.bosch.com

About MICO
MICO is BOSCH in India.
Motor Industries Company Ltd., (Mico) is a subsidiary of the Bosch Group. Founded in 1951, Mico has grown over the years to become India’s largest auto component manufacturer. It is also the largest Indo-German company. MICO and BOSCH have recently been awarded the “Auto Component Manufacturer of the Year 2005” by leading industry bodies.

With Bosch, Mico has developed excellent R&D and manufacturing capabilities, which has helped build a strong customer base and establish market leadership through the high quality of its technology and products. It has a strong after sales network spanning across 1000 towns and cities in India with over 4,000 authorised representations who ensure widespread availability of both products and after-sales services.

As Bosch is focusing on India to develop it as a technology hub, Mico is gearing up to meet the challenges.

Additional information can be accessed at www.boschindia.com