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Article: Bosch & Mhao ink five-year strategic alliance.(Al Otaiba Group of Cos.)(BSH Bosch und Siemens Hausgerate GmbH)

Article from:
Middle East
Article date:
March 30, 2006
Copyright

Germany's BSH Bosch and Siemens Hausgeräte 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.

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 ...

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