FAMILY-owned German firm Freudenberg Group reported above-average, profitable growth in almost all sectors, with sales value reaching EUR6 billion in 2011, an increase of 9.6% from EUR5.48 billion in 2010. Profit amounted to EUR505 million, higher than the previous year’s EUR431 million.
According to the group, much of its success had to do with its ability to cope with the substantial increases in the price of materials and compensate for weak economic conditions in the Mediterranean countries. To continue business growth, Freudenberg will invest on product innovations and plant expansions. To date, the company has set up new facilities in the US and Russia and about 26% of the company’s product innovations are less than four years old. (PRA)
Asia's First E-Magazine for the Rubber Industry