Kluber Lubrication, a Freudenberg Group company, to invest Rs 210 crore for expansion of its speciality lubricants (release agents) plant in Mysore.
The company is among the early German companies to have identified India as a key growth market and set up production units 80 years ago and offers tribological solutions to the various sectors in the domestic market.
“We have identified India as a key growth market. Through our subsidiary have developed tailor-made speciality lubricants to suit every sector and we sell direct to customers,” said Dr Jorg Matthias Grossmann, Managing Director and CFO, Freudenberg Chemical Specialities.
“To cater to the growing economy and to various sectors in India, we have committed Rs 100 crore over the next two years and Rs 210 crore till 2020 to expand our Mysore plant,” he added.
According to Mr K.R.V. Parameshwar, President and Chief Executive Officer, Kluber Lubrication India, “The speciality lubricants plant in Mysore currently has a capacity of 3,500 tonnes a year. The capacity will grow to 18,000 tonnes by 2020.”
Talking about the Freudenberg Group, Mr Grossmann said “Today, the group has 10 operating business units in India ranging from automobile and automotive components lubricants and release agents, non woven and filtration, specialty chemicals, household products and IT services.”
In addition to Mysore, the company has plants in Bangalore, Kolkata, Mumbai, and New Delhi to make other lubricants and employs close to 2,800 people in its offices and manufacturing plants.
In the last five years, the Freudenberg Group has been growing its Indian operations significantly at an average of 47 per cent.
The group last year invested Rs 176 crore to upgrade and expand production plants, distribution and to set up sales networks in India.