German technology firm Freudenberg has clocked net sales of €9.3 billion or Rs. 689.59 billion in 2017 up by 18.3 percent over the previous year. In India, Freudenberg’s seven Business Groups have a total workforce of around 2,688 employees at around 50 locations – running six R&D centres and 14 production sites with state-of-the-art shop floors.
“We are on track. Our new facility in Chennai is an important next step – not only to grow but also to underline our long-term commitment to the local market and to support the ‘Make in India’ initiative. The project has cleared all the legal hurdles and construction work at the site has started. The total investment is around 28 million Euros. The company aims to balance its portfolio further towards generating one-third of sales each in Asia, North America and Europe. The Indian market plays a key role in our existing and future operations, and our diversified and innovative portfolio caters to the demands of India’s industry,” said Georg Graf, Freudenberg Regional Representative India at the press conference in Chennai.
In 2017, the group invested Rs. 31.57 billion (4.6 percent of sales) in R&D compared to Rs. 27.64 billion a year ago. The Freudenberg Sealing Technologies’ product portfolio is engineered to reduce weight, fuel consumption, emissions and ease installation challenges in today’s start-of-the-art engines, transmissions and e-mobility platforms.
Freudenberg’s sustainable solutions for the food and apparel industries are essential to the daily lives of tens of millions of Indians.
As part of its e² (education and environment) program, the Freudenberg Group and its local employees are fostering the education of poor children in Bengaluru. The Group is contributing financially to the Parikrma Humanity Foundation, a non-profit organization that local Freudenberg employees in India have been visiting over the years. Parikrma runs four centres for learning, including a kindergarten and school as well as a junior college.