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Freudenberg to invest Rs 100 cr in Mysore
Bengaluru, June 9 - German technologies, products, solutions and services company Freudenberg was on Thursday upbeat on Indian operations with plans to invest Rs 100 crore in Mysore.
"Our main focus areas are automotive, construction, food and pharma," said Freudenberg regional representative Jorg Matthias Grossmann.
Aimed at upgrading and expanding manufacturing and R&D facilities, Freudenberg invested Rs 68 crore in 2015.
Major chunk of the investments were concentrated on the production site, labs and warehouse of the company's chemical factory in Mysore.
Specialty lubricating oils, greases, pastes, aerosols and release agents under the name of Chem-Trend, OKS and KlAber Lubrication brands are some of its products.
Freudenberg Sealing Technologies has also expressed its commitment to India.
The German company has been operating in India since 2001 through the joint venture Sigma Freudenberg NOK in Mohali, and a new plant was erected in February 2015 at Basma, with 2,000 employees to produce seals for Indian and overseas market.
"These two major investments with a total amount of more than Rs. 290 crore in the past few years underscore our long-term commitment to India. Together with our partners, we will expand our presence and continue to invest in India," said Grosmann.
"At our sites in Mysore, Pune and Mohali, the R&D facilities develop products tailored to the needs of our local customers. It is part of our group strategy to make globally developed innovations suitable for regional use," he said.
The company's Indian sales increased by 3.7 per cent from Rs 1,497 crore in 2014 to Rs 1,553 crore in 2015.
"We have completed another year of profitable and sustainable growth. And our companies in India will continue to grow, much faster than in most other regions of the world," said Grossman.
Freudenberg established four R&D centres, 14 production sites and employed 2,800 full time associates at 50 locations in India.
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