|Chennai||Rs. 24020.00 (-0.17%)|
|Mumbai||Rs. 25020.00 (0.28%)|
|Delhi||Rs. 24450.00 (0%)|
|Kolkata||Rs. 24600.00 (-0.32%)|
|Kerala||Rs. 24050.00 (0%)|
|Bangalore||Rs. 24160.00 (-0.17%)|
|Hyderabad||Rs. 24030.00 (-0.12%)|
The family-owned Freudenberg Group of Germany is investing around Rs 130 crore in its existing project in Mysore, making it the company’s largest investment in the Asia-Pacific region.
The product development laboratories in Mysore will become a regional competence centre for specialty lubricants, release agents and maintenance products. The centre will serve Freudenberg’s customers in Southeast Asia and the Pacific Rim as well as some global needs as a technical centre of excellence.
Its companies, Chem-Trend and Klüber Lubrication India, are building the group’s most modern facilities. Since its launch in 2011, first buildings have been erected. By 2016, when the project is scheduled for completion, this state-of-the-art facility will provide 17,000 sq m of covered space. Total area is around 40,000 sq m. An additional plot of land covering over 8,000 sq m has been acquired.
Specialty lubricants, release agents and maintenance products are being manufactured in the company’s plant operating here since 1989. Its brands of Klüber Lubrication, Chem-Trend and OKS have various applications in different industries such as infrastructure, automotive, energy and food industry.
The plant has some 110 employees. It is expected to add over 100 people.
“This investment reiterates the importance of the Indian market for Freudenberg Group,” said Jörg Matthias Großmann, Freudenberg Group Regional Representative for India and Chief Financial Officer for Freudenberg Chemical Specialities, in Mysore.
Freudenberg has held business ties with customers and partners in India for almost 100 years.