Freudenberg aims to double its India revenue to Rs 2,200 crore by 2016

Bangalore, June 25, 2013: Freudenberg, the Germany-based auto component supplier, aims to double its revenue to Rs 2,200 crore in India by 2016.

Addressing a media conference in Bangalore today, Dr Jorg Matthias Grossmann, Chief Financial Officer of Freudenberg Chemical Specialties and Regional Representative India of the Freudenberg Group, said the company’s revenue from India has been increasing.

The company has manufacturing plants and R&D Centres in multiple locations in India. It witnessed a year-on-year increase of 17 percent in revenue at Rs 1,114 crore in India in calendar year 2012, of which 50 percent came from the automotive industry.

Although there is a slowdown in the Indian economy, he said the company sees India as its one of the prominent markets in longer term in the world.

Grossmann was in Bangalore today to announce about his company’s performance in India and to inaugurate its Freudenberg Regional Corporate Centre (FCCC). He said that setting up of FCCC in India is a further important strategic milestone. “Our objective is continued profitable and sustainable growth.”

As of now, the company setting up its FRCCs in India is further a strategic milestone. “Our objective is continued profitable and sustainable growth. With regionally-located corporate functions, the corporate centre ensures that important know-how is available to all Freudenberg’s companies in India, “.

Grossmann said the Regional Corporate Centre will also support Freudenberg’s Ten Indian Companies in the fields of finance and insurance as well as communication and infrastructure.

The company’s global revenue stood at Rs 43,655 crore in 2012, of which Asia contributed around 17 percent. Apart from the auto industry, the company also manufactures products for other industries like energy, chemical, medical, textile, mechanical and plant engineering. Its automotive products include seals, lubrication, release agents, filters and vibration controlling materials. The group employs over 3,500 associates at 30 locations in India

JAISHANKAR JAYARAMIAH

Photograph: Dr Jorg Matthias Grossmann, Chief Financial Officer of Freudenberg Chemical Specialties and Regional Representative India of the Freudenberg Group addressing a press conference in Bangalore today. Viju Parameshwar, President & CEO of Kluber Lubrication India (a Freudenberg’s firm) and Cornelia Buchta-Noak, Head of Corporate Communications, Freudenberg are also seen.