Freudenberg Reports 6.8 Percent Sales Increase in North America
Apr 22, 2015, 05:34 ET
PLYMOUTH, Mich., April 22, 2014 /PRNewswire/ -- The Freudenberg Group generated sales of $ 2.2 billion in 2014 in North America. That presents an increase of 6.8 percent compared to 2013. Regional sales rose by a higher percentage rate than global sales, which grew by 6.3 percent to a total of $9.3 billion. A focus on innovation, investments in research and development, and the company's "buy and build" strategy have resulted in record sales for the fifth year in a row.
Companies of the Freudenberg Group supply products and services to automotive, aerospace, medical, oil and gas and construction industries. Also, Freudenberg is a leader in the production of household and cleaning supplies. Based in Germany, the company is known in almost 60 countries across the globe for industrial and consumer products, several of which are marketed under recognizable brand names. In addition, its IT business group provides software solutions and technology services to small and medium-size enterprises. Ten of 11 Freudenberg business groups are active in North America.
"With 23 percent of sales generated in North America, our region is the second largest market for Freudenberg after Europe," said Bob Evans, Freudenberg North America president and regional representative. "It is especially noteworthy that we have seen increased sales in all areas of our business, reflecting the broad recovery of the North American economy. If we need to single out the business groups which have seen the highest year over year increase, we should mention Freudenberg Chemical Specialities, Freudenberg Performance Materials, Freudenberg Sealing Technologies, Freudenberg IT and Helix Medical."
"Automotive remains the largest market for Freudenberg both in North America and worldwide," added Evans.
In 2014, the company made a combined investment in the U.S., Canada and Mexico of about $105 million, consistent with annual investments in previous years. Included in this investment was the expansion of production capacity, new facilities or upgrades to existing sites as well as mergers and acquisitions.
"We will continue investments at this level in 2015," Evans said.
In 2014, Freudenberg executed two acquisitions in North America: Tobul Accumulators was added to the Freudenberg Sealing Technologies Group and MeadWestvaco's industrial activated carbon corrosion protection business became a part of the Freudenberg Filtration Technologies Business Group.
Collectively, Freudenberg operates 87 locations within the North American region and employs more than 8,300 people, including approximately 1,000 associates in Canada and Mexico. Employment increased nearly four percent in 2014.
About the Freudenberg Group: The Freudenberg Group is a family-owned company offering customers technologically advanced and support-intensive products and services. The Group develops and manufactures seals, vibration control technology components, filters, nonwovens, surface treatment products, release agents and specialty lubricants, medical technology and mechatronic products. Freudenberg also develops software solutions and IT services primarily for small and medium-sized enterprises. Consumers enjoy Freudenberg's state-of-the-art household products marketed under the vileda®, O-Cedar®, Wettex®, Gala®, Marigold® and SWASH® brands. In 2014 the Freudenberg Group had 40,456 employees in 57 countries and generated revenue of more than 7.0 billion euros ($9.3 billion). More information about Freudenberg is available on the internet under www.freudenberg.com.
About Freudenberg in North America: Freudenberg North America Limited Partnership is the North American holding company for Freudenberg & Co. of Weinheim, Germany that owns a family of companies which operate unique businesses at 87 locations in North America. Together, these companies provide innovative products and solutions to customers in industries ranging from automotive, aerospace, and medical to chemical, oil and gas, and construction. For further information, please visit www.freudenberg.us.
SOURCE Freudenberg North America