Originally founded in Worcester in 1962 by businessman Cecil Duckworth, the company became part of the worldwide Bosch group in 1996.
The vast majority of its gas and oil boiler sales are in the UK.
According to the firm’s latest accounts for 2022, it employed 1,804 staff at the two sites, though the number has since fallen. More than half of the workforce was in production and engineering.
That year, it recorded profits of £75.2m, though revenue had fallen slightly.
However, a spokesperson for the company said market conditions had worsened over the past two years, with a reduction in sales in the UK boiler market.
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