News By Tag
News By Location
Freudenberg acquires Vector Technology Group
Freudenberg Oil & Gas expands its position and expertise in the upstream segment of the oil and gas market
“Freudenberg intends to continue its growth in this field through a combined buy-and-buildand an organic growth strategy”,says Dr. Mohsen Sohi. “Vector possesses a high level of technical expertise, especially in the offshore segment. The company fits perfectly with Freudenberg, because of its culture, unique engineeredproduct solutions, continuous innovation and numerous market firsts.”
Vector provides proprietary, high integrity connector products with patented metal to metal seal technology for usein offshore oil andgas platforms, floating production,storage and offloading vessels, subsea riser, swivel, flow-line and manifoldapplicationsand refineriesand petrochemical plants. The products core features areits high integrity metal-to-metal sealing and design which minimize weight and space, which directly affect total project cost, installation time and maintenance cost. The products are currently manufactured to 15,000 PSI working pressure and have a proven track record inharsh environment applications where fatigue, high bending and stress loads are primary considerations.
“Vector gives us the opportunity to expand our expertise in developing applications-
Founded in 1978 in Norway as Steel Products Offshore and as Techlok Ltd in 1987 in the United Kingdom, the companies merged to form Vector in 2003. Vectorhas manufacturing centers in Malaysia, Norway, United Kingdom, and the United States. These manufacturing centers are complemented by technical sales offices in Australia and Brazil. These locations complement Freudenberg Oil & Gas’global presence in Canada, Norway, Singapore, United Arab Emirates, the UK and the US. Almost 50 R&D anddesign engineers in Europe and North America are developing innovative and customized solutions for major oil and gas end-users and leading Original Equipment Manufacturers.
“For Vector, becoming an important part of Freudenberg Oil &Gas is a major step in our evolution. Our innovative products will compliment Freudenberg’
The acquisition of Vector brings Freudenberg Oil & Gas closer to its goal of being the global leader in sealing technology for the upstream oil and gas market. Freudenberg Oil & Gas was formed in 2011 and today consists of seven acquired companies, all with sealing expertise in the oil and gas industry.
About Freudenberg in India
Freudenberg has held business ties with customers and partners in India for almost 100 years. The Group has a workforce of more than 3,007 employees at 28 locations. Freudenberg generated sales in India of 956 Rs. crores in the 2011 financial year. More about Freudenberg in India: www.freudenberg.in
About the Freudenberg Group
The Freudenberg Group is a family-owned corporation offering its customers technically challenging product solutions and services. The Group develops and manufactures seals, vibration control components, filters, nonwovens, surface treatment products, release agents, specialty lubricants, and medical and mechatronic products. Freudenberg also develops software solutions and IT services for mid-size companies. Consumers can purchase Freudenberg household products under the brand names vileda®, O-Cedar®, Wettex®, Gala® and SWASH®. The Freudenberg Group employed over 37,000 associates in 58 countries and generated sales of more than €6 billion in 2011. For further information, please visit www.freudenberg.com
About Freudenberg Oil and Gas
Freudenberg Oil & Gas is a part of the Freudenberg Group and a global solutions provider of innovative seal solutions and differentiated seal products to the global oil and gas industry. The Business Group is focused on the exploration and production (upstream) segment. Today approximately 345 associates serve a wide range of customers including oil and gas producing companies, original equipment manufacturers (OEMs) and engineering and service companies that provide technologies, equipment and services for producing oil and gas from land based and offshore platforms throughout the world. The Business Group has locations in Canada, Norway, Singapore, the UK, the United Arab Emirates and the US. In 2011, Freudenberg Oil & Gas generated sales of more than €46 million. Please see www.freudenberg-
AboutVector Technology Group
Vector Technology Group is a major single source supplier of high integrity sealing solutions for the most demanding applications. Its products are for use in offshore oil andgas platforms, FPSOs, subsea,riser, swivel, flow-line and manifold applications, and refineries and petrochemical plants. The company employs 280 associates and has locations in Australia, Brazil, Malaysia, Norway, United Kingdom and the United States. For further information, please visit www.vectortg.com