BOSCH GMBH

in full Robert Bosch GmbH, German company that is Europe's largest auto-parts manufacturer and one of the world's leading makers of auto ignition, fuel injection, and antilock braking systems. The company also produces industrial hydraulic and pneumatic equipment, telecommunications equipment and systems, power tools, household appliances, radios, television sets, and audio-visual equipment. Its headquarters are in Stuttgart, and it has subsidiaries throughout Europe, North and South America, Asia, and Australia. Robert Bosch (q.v.) founded the company in 1886 to repair electrical equipment. Two inventionsBosch's magneto and his partner's spark plugbecame the basis for the company's line of auto parts. Bosch's company began selling auto parts to the rapidly growing American automotive market about 1900, and by 1914 two-thirds of the company's sales were in the United States. However, the majority of its American businesses were expropriated by the U.S. government in 1918 during World War I. Bosch's American operations were taken over again during World War II, but by the 1950s the company had resumed its sales to American and other foreign automotive makers and was expanding rapidly as the world's consumer automotive market thrived in the postwar economic boom. In the 1950s Bosch also began diversifying into such areas as the manufacture of household appliances, power tools, and hydraulic equipment. The advanced fuel-injection systems developed by Bosch engineers from 1949 were widely adopted by automakers in the 1970s and '80s because they reduced fuel consumption and minimized exhaust pollution. The antilock braking systems pioneered by Bosch also came into wide use on European and American cars during the 1980s and '90s. In the early 1990s, the company met a decline in revenues by large layoffs, but it subsequently regained its financial health. The company, whose stock was publicly held between 1917 and 1937, is now primarily owned by the Robert Bosch Foundation.