New CEO Appointed at Bosch Subsidiary in Budapest

A new CEO has been appointed at Bosch Rexroth Ltd., replacing István Ács, who has been managing the company for more than two decades. The new head is Daniel Prekel, a German-born executive who has been with the Bosch subsidiary for twenty-one years, the company announced on Friday.

The Budapest-based manufacturer of drive and control technology is one of the eight Hungarian member companies of the German Bosch Group, employing 133 people. The company is a prominent player in the market for drive and control technology, supporting the automation and digitalization development of Hungarian industry with its innovative solutions.

Based in Budapest, the company is engaged in sales, engineering, and project management, and also operates a hydraulics and automation service and assembly hall.

The efficiency and adaptability of industrial companies depend on automation, and its spread is not being hampered by economic difficulties, the company wrote in the press release.

In the experience of Bosch Rexroth, domestic demand for its products and services has been rising for years.

The food and pharmaceutical industries, as well as the logistics sector in particular are increasingly relying on the company’s advanced industrial automation systems to reduce costs and ensure quality.

It is also the solution to the difficulties in the automotive sector, mainly due to the rise of electric vehicles, the company added.

Bosch Rexroth Ltd. also sees automation investments as a competitiveness condition, and Daniel Prekel believes that such investments will reduce costs in the short term.

Based on the company’s financial report, Bosch Rexroth, which was incorporated in 1990, closed 2022 with revenues of over HUF 30 billion (EUR 72 million / EUR 1=HUF 414) and 2023 with more than HUF 28 billion. Meanwhile, their profits rose from HUF 1.08 billion to almost HUF 1.75 billion.

Via MTI, Featured image: Facebook/Bosch Rexroth