Freudenberg continues stable growth in India
ERJ staff report (LMH)
Bangalore, India – Sealing specialist Freudenberg said it is recorded in other “all-time high” in India in 2012 as sales grew by 17% to RS 1114 crores (€142 million) from 2011.
Freudenberg said at year-end the headcount rose by the same percentage and increased by 520 to around 3524.
“With this positive business development, our companies in India have yet again made an important contribution to the overall success of the Freudenberg Group,” said Dr. Jörg Matthias Großmann, regional representative India of the Freudenberg Group. “Freudenberg successfully held its ground in a particularly challenging market environment.”
The significance of India as a strategic growth market is underscored by the opening of the new regional corporate centre in Bangalore which will support the continued development of Freudenberg’s companies in India, the company said.
Freudenberg subsidiary EagleBurgmann, which is based in Chennai, is currently investing in a new 6000 sq.m manufacturing plant for rubber and fabric expansion joints. Total investment in the new plant amounts to Rs. 60 million. The facility will be operational from the fourth quarter of 2013.
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Press release from Freudenberg