Freudenberg Group reports higher sales, profits

ERJ staff report (DS)

Weinheim, Germany -- The Freudenberg Group reported sales of Euro 5341 million for the 12 months ended December 2007. The comaony said this represents year-on-year growth of 288 million euros or 5.7 percent.

Freudenbrg said Seals and Vibration Control Technology was especially successful in growing sales, particularly in Europe. Adjusted for exchange rate effects, acquisitions and disinvestments, sales rose by about 7.5 percent. Compared with 2006, profit from operations was up 26 percent to 384 million euros. At year-end, Freudenberg's workforce totaled 34,330 employees, 804 more than at year-end 2006.

"We are systematically expanding our activities in certain segments of the general industry sector, such as oil and gas, heavy hydraulics, aerospace and medical technology", said Dr. Peter Bettermann, Speaker of the Freudenberg Management Board, at the Annual Press Conference held in Weinheim earlier this month.

For the current financial year, Freudenberg expects further positive development despite a flagging global economy. Once again, continuous improvement processes as well as efficiency enhancement and cost reduction efforts will play a key role. Growth in Asia, especially in China and India, will compensate for the weak US automobile market.

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Press release from Freudenberg