LOS ANGELES
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April 26, 2022
(Industry Intelligence Inc.)
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Germany-based Freudenberg Group published its 2021 financial data regarding its operations in India, the company reported on April 22. According to a press release, Freudenberg India’s 2021 sales increased 32% compared to the previous year, reaching €322 million. During the 2021 fiscal year, Freudenberg invested €7.1 million into Indian operations, which includes SIPCOT, the nation's industrial development agency. Freudenberg has publicly supported the “Make in India” initiative, a nation-building project aiming to make the country one of the world’s leading engineering and manufacturing hubs. "We have acquired land as a strategic investment for future plant installations or expansion projects," said Georg Graf, CEO of the Freudenberg Regional Corporate Centre, India, in a press statement. "The site is 5.84 acres in dimension." The company has conducted business in India for nearly a century, where it currently employs 3,000 people across 15 production facilities. The Freudenberg Group reported international sales at €10 billion for 2021, which includes sales data from India. The group’s global sales rose 14% year-over-year. The primary sources for this article are PR Newswire India, Bangalore, India, published April 22, 2022, and Make in India, New Dehli, India. To access the PR Newswire story, click here. To access Make in India’s website, click here.
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