Freudenberg-NOK Helps Drive Economic Recovery with Capital Investments in Manufacturing Facilities Company invests millions in plant updates in 2011, expects the same in 2012
PLYMOUTH, Mich., May 24, 2012 /PRNewswire/ --– Freudenberg-NOK Sealing Technologies (FNST), a global leader in the production of elastomeric seals and custom molded products, is spurring economic growth in communities across America with ongoing capital investment in manufacturing facilities.
The company invested tens of millions of dollars in capital improvements in its manufacturing facilities in 2011 and has budgeted to meet or exceed this investment level in 2012. The investment reflects an ongoing increase in sales and profitability and renewed confidence in a long-term economic recovery. The investments, which ranged from building upgrades to new tooling, machinery and test systems, allowed the company to pursue its commitment to robust manufacturing technologies, innovative new processes and exemplary customer service.
"Freudenberg-NOK remained financially stable through the recession and has recorded strong growth across all of its markets during the past two years," said Brad Norton, president, FNST. "These positive financial results have allowed us to reinvest in our facilities and communities, adopt new processes and participate in the global economic recovery.
"Our dedication to fiscal conservatism provided us with a foundation to navigate the economic challenges of the past four years," Norton continued. "While we maintain this overall approach to business, we also willingly invest in our operations and communities to secure our long-term viability and technological leadership."
Among the top investments that FNST pursued in 2011:
- $3.3 million in rubber mixing processes and new manufacturing lines in Bristol, N.H.
- Nearly $4 million invested to increase production capacity related to new business in Cleveland, Ga.
- Approximately $2.3 million in process innovations for rubber mixing and metal treatment as well as increased manufacturing capacity in Sao Paulo, Brazil.
- Approximately $1.8 million on new metal treatment equipment and press capacity in Morristown, Ind.
- $1.2 million in new manufacturing capacity in Northfield, N.H.
- $1.0 million in rubber mixing facility technology and new manufacturing machinery in Shelbyville, Ind.
- Approximately $3.1 million in IT systems investments throughout the organization.
About Freudenberg-NOK Sealing Technologies
Freudenberg-NOK Sealing Technologies is the Americas joint venture between Freudenberg and Company in Germany and NOK Corporation in Japan. Founded in 1989 under the legal name Freudenberg-NOK General Partnership, Freudenberg-NOK Sealing Technologies is a leading producer of advanced sealing and elastomeric technologies for a variety of industries including automotive, aerospace, appliance, diesel engine, agriculture, construction, heavy industry, and alternate energy.
Freudenberg-NOK Sealing Technologies is headquartered in Plymouth, Mich., and has facilities throughout the United States, Canada, Mexico, Brazil and Malaysia. With annual revenues approaching $US 1 billion, the company employed approximately 4,700 people in 2011. For additional information, please visit www.freudenberg-nok.com.
Freudenberg-NOK Sealing Technologies is part of the Freudenberg & Co. Group of Germany. Freudenberg & Co. is a family of companies specializing in seals and vibration control technology, nonwovens, filtration, lubricants and release agents and other specialty business areas. The Freudenberg Group generated sales of more than $7.8 billion and had 37,000 employees in 2011. For additional information, please visit www.freudenberg.com.