Freudenberg to invest Rs 111 cr for new production facility near Chennai

Company is said to have invested Rs 1,483 cr over the past 5 yrs

Freudenberg, a global technology group, plans to invest around 15 million euros (around Rs 111 crore) to set up a facility near Chennai. The company will begin construction work for the upcoming facility in the autumn of 2017.

It will be located 50 kilometers to the southwest of the city at Vallam-Vadagal Industrial Park. The facility will produce sealing solutions for the automotive industry, among other products.

Land acquired for the purpose spreads across a land area of 56,000 metre square and could be developed further.

According to the company, Freudenberg invested  €8.6 million or Rs 62 crore in India last year.

"Investments were made across the board, at all Freudenberg Business Groups, in manufacturing and research facilities and equipment. Over the past 5 years, Freudenberg has invested a total of Rs 363 crore," said Georg Graf, Freudenberg Regional Representative India.

Freudenberg recorded sales of Rs 1,483 crore across its seven business groups last year, marking a growth of around 20 per cent as against the year-ago period.

Group forecasts profits that will enable the company to register a double-digited growth in India this year. At present, Freudenberg employs some 2,500 associates at 50 locations and has six research and development (R&D) centres and 14 production sites. 

Business operations of the group includes production, sales and service sites in India.