Comments
Freudenberg, Germany-based technology group, is in advanced stage of commissioning its ₹210-crore sealings plant, which will come up about 50 km from Chennai.
“The plant, which will make sealings for a number of applications, including for the automotive sector, is coming up on a 13-acre site in the Vallam-Vadagal Industrial Park, and will be ready by early 2020. It will have a cool roof which will lower the temperature by about 7o centigrade,” Georg Graf, Regional Representative-India, Freudenberg, said.
Interacting with BusinessLine here as a part of a CII meet on promoting Bavaria, Graf said: “It is difficult to quantify the production capacity, as sealings are small and massive in number. But certainly, it will be big enough to play a significant role in the automotive sector.”
“The Freudenberg Group, established over 170 years ago is a family-owned business, now into its seventh generation with 325 shareholders. The Group functions with the mindset of an SME and had last registered €9.5 billion in revenues,” Graf said.
While Fredenberg has had its links with India since 1920, its presence has grown recent times. It is now present in over 50 locations through 14 companies with 16 production sites, sales and service offices and R&D centres, and employs more than 3,000 people. In India, the group offers innovative solutions for various sectors, including automotive, chemical, energy, construction, medical and consumer products, he said.
“Over the years, as a group, our focus has been on R&D and innovation, seeking to make a difference to people and their lives. As a result, we pump in about 4.7 per cent of our revenues into R&D. Its significance can be gauged from the fact that a third of the products now sold have been introduced barely four years ago,” he said.
Referring to Germany, he said:
“India and Germany are natural-fit democracies where the rule of law prevails and both States are engaged in strong bilateral trade. This can only get bigger as more companies get engaged with each other,” he said. Bavaria is home to a number of major companies, including Mercedes Benz and SAP, he added.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.