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Follow on Google News | Make in India: Innovative solutions generate strong growthFreudenberg business in India grows 32.8% in 2014 .“India is a market of considerable potential for the Freudenberg Group and the country makes a considerable contribution to the Freudenberg Group’s innovative strength.
By: prhub Total global sales of the Freudenberg Group amounted to Rs. 56,860 crore or €7,039.1 million (2013: €6,662.5 million), representing growth of €416.6 million or 6.3 percent over the previous year, thus resulting in global record sales for the fifth consecutive year. “India is a market of considerable potential for the Freudenberg Group and the country makes a considerable contribution to the Freudenberg Group’s innovative strength. We are therefore committed to systematic investment in this region over the long-term. In 2014, the Group made local investments totaling to Rs. 97.6 crore in India”, said Dr. Jörg Matthias Grossmann, Regional Representative India at the press conference in Bengaluru today. Largest investments One significant project is the new production site of Chem-Trend and Klüber Lubrication in Mysore, that will officially open in August 2015. For a total of around Rs. 135 crore, it is one of the largest investments in the Asia-Pacific region of the Freudenberg Group. This is where more than 20 products will be developed and manufactured for the customers in the South East Asia/Pacific region. The site at Mysore – buildings with a surface area of 17,000 m2 on a site of some 40,000 m2 – also hosts product development facilities and major tribology testing facilities with equipment such as an FZG test rig. FZG stands for Gear Research Centre. This is the only one within Klüber outside Munich and the only one in India until now. At the start of the year, Freudenberg Sealing Technologies massively expanded its commitment in India. The company has been involved with the Indian market through its joint venture Sigma Freudenberg NOK (SFN) in Mohali since 2001. In February 2015, SFN opened a second, completely new factory in Basma about 35 km away. The plant marks a new stage in Freudenberg’ Make in India “Our R&D and manufacturing activities as well as various other initiatives foster our long-term commitment,” Steady growth leads to new jobs. At the new SFN factory in Basma for example, more than 2,000 employees – half of them women – will manufacture seals for the Indian market and for export. Education is Key The Freudenberg Group has a long-term commitment not only to the Indian market, but also to the Indian society. It takes responsibility as a good neighbor wherever it holds full management control – especially for environmental protection and educational prospects for children and young people. In the area of Nagapattinam, Freudenberg provides sustained support for the region affected by the tsunami in the form of a Training Center. In the meantime, about 350 young people have been given an opportunity to train in a technical vocation so that they can shape their own future and the future of their country. Education is also key for Freudenberg as an employer. A few years ago, the company started its FIELD (Freudenberg India Entrepreneurial Leadership Development) Freudenberg financial performance in 2014 and outlook On the basis of the pro-rata consolidation of joint ventures, the Freudenberg Group reported sales of €7,039.1 million (previous year: €6,662.5 million) in 2014, representing growth of €416.6 million or 6.3 percent over the previous year. Adjusted for the effects of acquisitions and disinvestments to the amount of €131.0 million and exchange rate effects, sales were 5.6 percent or €368.0 million higher than the previous year. Sales rose in all Business Groups. Consolidated profit ran at €478.3 million (previous year: €401.5 million), mainly as a result of market success and innovative products. As at December 31, 2014, the Freudenberg Group employed 40,456 people (previous year: 39,897 people). The financial data are based on the pro-rata consolidation method (including the activities of the 50:50 joint ventures) which Freudenberg continues to use for the management of its operating activities. Under IFRS financial reporting standards, 50:50 joint ventures are consolidated by the equity method. This means sales and employee figures are not taken into consideration. Overall, Freudenberg expects a successful year in 2015, with sales growth outpacing the market. The high quality of innovative products aimed specifically at meeting the needs of the Group`s customers, is expected to generate further growth in India. End
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