German OEM firm to pump Rs 111 crore in Tamil Nadu

The total investment is Rs 111 crore. The site, located in the Vallam-Vadagal Industrial Park (Sriperumbudur), will produce innovative sealing solutions for the automotive industry, among other products. The land acquired consists of more than 56,000 mtr sqr – with the capacity for further site development. 

The group continued its profitable growth in 2016 despite challenging conditions in multiple market segments and world regions. The global technology group achieved sales of Rs 63,835 crore, based on the pro-rata consolidation of joint ventures. That represents an increase of 13.5 percent compared to 2015. It also contin ued its positive business development in India. “With our plan to invest in a new production facility in the city of Chennai we underline our long-term commitment to the local market and support the ‘Make in India’ initiative,” said Dr Mohsen Sohi, the CEO of the group recently. 

The company’s product line includes housewares and cleaning products, automobile parts, textiles, building materials, and telecommunications.  In India, the company’s seven Business Groups generated sales of Rs 1,483 crore, an improvement of 20 percent compared to the previous year. 

“In 2016, Freudenberg invested Rs 62 crore in India,” said Georg Graf, Freudenberg Regional Representative India. “Investments were made across the board, at all Freudenberg Business Groups, in manufacturing and research facilities and equipment.” Over the past five years Freudenberg has invested a total of Rs 363 crore.