With the high prices of oil and gas, it’s no surprise that Bosch is having a tough time finding buyers for its dishwasher brands.
But in the past few years, it has started to look like it might be able to find some new buyers.
According to a report from the Wall Street Journal, the oil and mining company is in talks with a group of local Chinese investors to buy a majority stake in the company.
Bosch is trying to turn the dishwasher brand into a household name in China with its high-end models, which can retail for $9,000 to $15,000 and have a range of features, such as a low-profile lid and built-in speakers.
The company also sells the Bosch Smart Dishwasher, which has a range from $10,000 up to $20,000, and the Boschi, which costs $15.
According to the WSJ, the Chinese investors want to buy at least 30% of the company, which could be an investment worth about $50 million.
The WSJ says that Bosches sales have declined for years in China, which is one of the world’s fastest growing economies, but that its dishwasher sales are up since the Chinese government loosened regulations and opened up more business opportunities.
The Chinese government announced last week that it would allow companies to sell their products through the country’s national retail network.
(Related: China’s new food-safety regulations are taking a toll) The WSJ also says that the Chinese buyers are looking to buy the company’s dishwasher brands, which include Bosch, Boschi and the more popular Bosch Silver, which sells for $10.99 to $12.99.
Chinese officials have said that the change in regulations is a way to help consumers avoid high-priced imported goods.
China has recently taken steps to encourage its domestic food producers to make more money by selling products through national marketplaces, but the move has raised concerns that some of those producers may struggle to attract buyers abroad.
“The Chinese companies have been losing money, and that is a concern,” said Matthew Green, an analyst at Sanford C. Bernstein.
“There is an appetite in the Chinese market for cheap food, so there is a risk that they are going to get hit in the head with a high price of food.”
Follow Matt on Twitter: @MattGreenAP