Freudenberg forms new Chemical Specialities Business Group Weinheim/Munich
Freudenberg & Co., Weinheim, Germany, has acquired the US release agents company Chem-Trend, of Howell, Michigan. The takeover reinforces the specialities operations of the diversified industrial Group. In order to consolidate the lubrication activities Freudenberg has formed the new business group, "Freudenberg Chemical Specialities", which includes the longterm successful Klüber Lubrication Group of Munich and Chem-Trend. Under the umbrella of this new business group Klüber Lubrication, Chem-Trend and OKS will continue to operate independently with their own brands in their own respective markets. Freudenberg Chemical Specialities has total sales of about 375 million Euro and a work-force of about 2,000. The headquarters of the company are in Munich.
"With the acquisitions of Chem-Trend, Freudenberg has underscored its commitment to the speciality lubricant field, which is now firmly anchored as part of the Freudenberg Group", comments Dr. Peter Bettermann, Speaker of the Freudenberg Group Board of Management. Klüber Lubrication, a Freudenberg company since 1966, was previously the only speciality lubricant activity within the Group. "This development would not have been possible without the sustained success of Klüber Lubrication over the past decades", adds Hanno D. Wentzler, formerly President and CEO of Klüber Lubrication, who now holds the same position at Freudenberg Chemical Specialities and manages the new company together with Dr. Jörg Matthias Großmann.
Klüber Lubrication offers tribological solutions for a wide variety of industrial applications, ranging from giant gears to the hands of a wristwatch. In 2003, the company reported speciality lubricant sales of some 270 million Euro with a global workforce of more than 1,500.
Chem-Trend is the world's leading manufacturer of special release agents for the molding of rubber, plastic and polyurethane and for the high-pressure die casting industry. In 2003, Chem-Trend reported sales of some 100 million Euro with a workforce of approximately 410.
Freudenberg Chemical Specialities is one of nine Business Groups in the Freudenberg Group. Freudenberg is a diversified family company chiefly active in the automotive industry (seals and vibration control technology, acoustic and vibration control, car interiors and filters), the textile industry (interlinings, technical textiles) and also has a presence on the final user market with Vileda brand household products and nora brand rubber floorcoverings. The Group has a workforce of 28,000 in 43 countries and sales of approximately 4 billion Euro.
ots Original Text Service: Freudenberg & Co. Internet: http://www.presseportal.de
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