DETROIT--(BUSINESS WIRE)--The Freudenberg Group continued its steady, profitable growth, ending 2017 with sales of $10.6 billion (€9.3 billion); an increase of some 22 percent over 2016 in dollars. The sharp increase in sales is attributable both to solid organic growth (4 percent) and effects from acquisitions.
“Both operationally and strategically, 2017 was a successful year for Freudenberg,” said Dr. Mohsen Sohi, Freudenberg Group CEO. “We have made significant progress to becoming one of the most innovative and efficient technology companies. We completed major strategic projects crucial to the Group’s long-term success. All in all, we have become more efficient and innovative. This is a result of our efforts to reduce administrative costs while increasing research and development spending,” added Sohi.
In North America, Freudenberg’s 11 business groups generated sales of $2.8 billion (€2.5 billion) in 2017, which is a 12.6 percent increase over 2016. The number of employees rose to 10,285. Freudenberg continued to invest in both manufacturing and R&D facilities in North America and spent a total of $159 million last year.
“Steady year-on-year investments in North America have allowed our businesses to increase capacity, purchase new equipment and make other improvements necessary to meet customer expectations,” said Bob Evans, president of Freudenberg North America. “Further expansion of our North American operations and a variety of new product launches are also planned for 2018.”
Investments in North America have included a new line equipped with state-of-the-art process technology for manufacturing high-quality, glass-fiber reinforced spunlaid nonwovens for the building supply industry at the Freudenberg Performance Materials site in Macon, Georgia; an expanded R&D center at the Chem-Trend global headquarters in Howell, Michigan, and a new VIAM (Japan Vilene Company) production facility in Aguascalientes, Mexico. Numerous other investments in buildings and new equipment have been made across all 11 Freudenberg business groups in North America.
About the Freudenberg Group
Freudenberg is a global technology group that strengthens its customers and society long-term through forward-looking innovations. Together with its partners, customers and research institutions, the Freudenberg Group develops leading-edge technologies and excellent products and services for more than 30 markets and for thousands of applications: seals, vibration control components, nonwovens, filters, specialty chemicals, medical products, IT services and the most modern cleaning products. Strength of innovation, strong customer orientation, diversity, and team spirit are the cornerstones of the Group. The nearly 170-year-old company holds strong to its core values: a commitment to excellence, reliability and pro-active, responsible action. In 2017, the Freudenberg Group employed approximately 48,000 people in almost 60 countries worldwide and generated sales of $10.6 billion.