ERJ staff report (DS)
Weinheim, Germany - Freudenberg Group said its China operations generated record sales in the 12 months to December 2011, and the first quarter results confirmed this pattern. The company said its China operations saw an increase in sales of around 20 percent in the first quarter of 2012. This follows an increase to Yuan 3670 million in 2011, an increase of 12.5 percent over the previous year.
"The positive business growth experienced by Freudenberg in China and the outstanding performance of our Chinese Business Groups was an essential factor in the above-average growth rates achieved by the entire Freudenberg Group," Hanno D. Wentzler, Regional Representative of the Freudenberg Group in China and CEO of Freudenberg Chemical Specialities, said at the press conference in Beijing.
"The Freudenberg Group will continue to develop its activities in China over the long-term, through a considerable number of investment projects. We are proud to announce the construction of our new production site in Chengdu for filter production. The cumulative amount invested in China since 2004 now totals more than 1.8 billion Yuan." he added. The production of both engine air intake filters and cabin air filters is expected to start beginning of 2013.
Wentler said, â€œProduction will be expanded at the plant in Yantai which opened in 2010. Chassis components and airsprings for commercial vehicles for the Chinese automotive industry are manufactured at the site. Customers include Ankai, DFM, KAMA, Sunwin and Yutong. A total of 130 million Yuan will be invested in the plant up to 2014.â€
In addition Freudenberg is setting up a new plant for the production of polyurethane seals in Taicang. The seals will be used in hydraulic cylinders in construction and agricultural machines. Freudenberg said this is a very interesting market which promises attractive growth rates, especially due to the subsidies envisaged by the Chinese government in its current five-year plan.
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Press release from Freudenberg