Freudenberg sales up 17%; opens corporate center in Bangalore

Freudenberg Group’s sales grew 17% year-on-year to Rs11.14 billion (US$186.7 million) in India in 2012.
“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 Jörg Großmann, regional representative for India of the Freudenberg Group and chief financial officer of Freudenberg Chemical Specialties.
The significance of India as a strategic growth market is underscored by the opening of a new regional corporate center in Bangalore, which will support the continued development of Freudenberg’s companies in India.
“Our objective is continued profitable and sustainable growth. With regionally located corporate functions, the corporate center ensures that important know-how is available to all Freudenberg’s companies in India,” he said. The regional corporate center will also support Freudenberg’s 10 Indian companies in the fields of finance and insurance, as well as communication and infrastructure.
“We have already rolled out one important HR initiative in 2012 in the shape of the global talent management process that spans all the business groups.” With the program, Freudenberg fosters local talent in all world regions, building up a pool of qualified employees for Freudenberg in their respective markets.
Innovations originating within the group will be one of the main driving forces for the success of Freudenberg in the future, he said. Freudenberg operates three research facilities in Mysore, Pune and Mohali, where innovative products for the Indian and Southeast Asia/Pacific region are developed and tested.
In addition to its research and development activities, Freudenberg encourages all associates to contribute even more ideas to the company. The “Idea Pool,” an initiative for new business ideas enables associates to submit suggestions for products, processes and technologies.
If an idea is developed through to start up, the responsible Freudenberg associate receives a financial award of up to Rs2.1 million (US$35,197) or the possibility of being involved in the implementation of the business idea. The first few projects submitted have led to the establishment of new companies.
In addition, the company’s latest decision to invest Rs60 million (US$1 million) into a new EagleBurgmann manufacturing operation for non-metallic expansion joints in Chennai demonstrates the company’s intention to foster engagement in the region.
To meet the ever-increasing customer demand for tailor-made solutions in the Southeast Asia and Pacific region, Freudenberg companies Chem-Trend and Klüber Lubrication India are developing their joint operation in Mysore into one of the most modern centers of excellence in the group ,with a total investment of around Rs1.3 billion (US$21.8 million).
Here special lubricants, release agents, and chemotechnical maintenance products under the brand names Klüber Lubrication, Chem-Trend and OKS are being developed and manufactured, for use in the automotive, infrastructure, energy and food industries.
(June 27, 2013)