Bosch Sells Starter Motor, Generator Unit to Chinese Group

Robert Bosch GmbH has agreed to sell SG Holding, its starter motor and generator business, to China’s Zhengzhou Coal Mining Machinery Group and China Renaissance Capital Investment, Reuters reports.

ZCMM, which makes automotive components as well as coal mining equipment, says the €545 million ($596 million) deal will expand its sales network and enhance its technology and research capabilities. The acquisition also will bolster SG Holding’s presence in the Chinese market.

It isn’t clear when the companies expect to finalize the sale.