The Indian market plays a key role in our existing and future operations: Georg Graf, Freudenberg’s Regional Representative in India
The global technology group Freudenberg continued its good business development in 2018 in a volatile and difficult environment and recorded strong organic growth of 4.3 percent. Including the effects of acquisitions and disinvestments, significant negative ex-change rate effects and the effects of the new accounting standard IFRS 15, sales increased by 1.2 percent over the previous year. Freudenberg therefore increased 2018 sales to €9,455.4 million or ₹76,235 crores (previous year: €9,345.6 million or ₹75,350 crores) on the basis of IFRS.
Freudenberg's business also performed strongly in India, with sales growing by 18.6 percent to €304 million or ₹2,401 crore. This rise is the result of continuous investments in existing and new projects. One example is the production facility in Chennai which is close to completion.
In India, Freudenberg's seven Business Groups have a total workforce of some 2,750 employees at around 50 locations - running six R&D centers and 14 production sites with state-of-the-art shop floors. "We remain committed to our long term orien-tation and continue to grow sustainably. The upcoming facility in Chennai is on track and close to completion underlining our long-term commitment to the local market and to support the ‘Make in India' initiative," said Georg Graf, Freudenberg's Regional Representative in India. The total investment so far is around €30 million or ₹240 crore.
"The Indian market plays a key role in our existing and future operations, and our diversified and innovative portfolio caters to the demands of India's industry. Both, operationally and strate-gically, 2018 was a successful year for Freudenberg worldwide. These important decisions have contributed to the sustainable growth of the entire Group. We are well on our way to being one of the most innovative and efficient technology companies. One third of sales (33.6 percent) have been generated with products introduced less than four years ago, providing an example of Freudenberg's innovative strength." Graf added.
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