Freudenberg Oil & Gas Acquires Leading Seal Producer

HOUSTON, Nov. 30, 2010 /PRNewswire/ -- Freudenberg Oil & Gas, a global leader in elastomer, metal and special sealing solutions, today signed an agreement to acquire 100 percent ownership of Offshore Seals (Asia) Pte Ltd. The contract was signed in Singapore where Offshore Seals is headquartered.

Freudenberg Oil & Gas is part of the Freudenberg Group.

Offshore Seals is a leading manufacturer of specialized seals for the upstream segment of the oil and gas industry. The company designs and produces a comprehensive range of elastomeric seals and O-rings with both standard and custom profiles. It has been serving customers in Southeast Asia since 1996.

"Offshore Seals supports our international expansion plans and enables us to deliver seal technology and solutions to our customers worldwide," said Richard T. Schmidt, president, Freudenberg Oil & Gas. "The acquisition also affords us the opportunity to transfer materials and design knowledge to the region, enhancing Offshore Seal's already strong technology presence."

"Freudenberg's industry-leading research and development capabilities promise to significantly expand our product mix to better serve our client base," concurred Mohanen Kurup, founder, managing director and owner of Offshore Seals.

Offshore Seals achieved sales approaching US$6.5 million in 2009. The company is ISO 9001 certified and maintains current American Petroleum Institute (API) licenses API 6A/17D/Q1 for oil and gas drilling and production equipment. It employs 35 people in Singapore.

The Freudenberg Group is pursuing growth in the oil and gas industry as a strategic initiative to expand its sealing technology business. Freudenberg Oil & Gas delivers materials expertise, engineering experience and analysis and testing to the upstream oil and gas industry. The acquisition of Offshore Seals will help Freudenberg establish a presence in the rapidly growing Southeast Asia market. Freudenberg expects to complete the acquisition Jan. 3, 2011.

About Freudenberg

The Freudenberg Group is a family company offering its customers technically challenging product solutions and services. The Group specializes in seals and vibration control technology, nonwovens, filters, lubricants and release agents as well as mechatronic products. Consumers can find modern Freudenberg household products in the shops under the brand names of Vileda®, O'Cedar® and Wettex®. Freudenberg develops software solutions and IT services particularly for small and medium-sized companies. In 2009, the Freudenberg Group employed approximately 32,000 people in 55 countries and generated sales of more than US$5.4 billion. For more on the Freudenberg Oil & Gas, please visit www.freudenberg-oilandgas.com; for more on Freudenberg Group, please visit: www.freudenberg.com.

SOURCE Freudenberg Oil & Gas; Freudenberg Group