Freudenberg Group pledges carbon neutrality by 2045  

By OEM Update Editorial April 10, 2024 11:32 am IST

Freudenberg India reported significantly higher sales of INR 3803 crore, and the company projected investments of around INR 350 crore in fiscal year 2024 at plants in Punjab, Karnataka, and Tamil Nadu.

Freudenberg Group, a global technology company that marks its 175th anniversary, reported record growth in revenue and operating profits for fiscal year 2023. Sales were €11,902.8 million, up 1.3 percent from the previous year, while operational profit grew by over 15 percent to €1,081.6 million. The profit margin increased to 9.1 percent due to new product lines, client attention, and adaptive problem solving across industries.

Freudenberg India reported significantly higher sales of INR 3803 crore. The operating results for 2023 were strong, and the group has announced investments of about INR 350 crore in fiscal year 2024 across sites in Punjab, Karnataka, and Tamil Nadu. Freudenberg has built a new production facility in Morinda, India, for its Vibracoustic Business Group and the Freudenberg-NOK India joint venture. The company exports approximately INR 800 crore from India.

Freudenberg Group operates 11 firms in the country, covering a wide range of industries including automotive, chemical, energy, technical textiles, and cleaning goods. Earlier in 2023, the group stated that G. Sivasailam, Managing Director of Freudenberg Performance Materials, will become the next Director and CEO of Freudenberg Regional Corporate Center India. Sivasailam succeeded Georg Graf, who had been in the job since 2016, when the Regional Corporate Center was established to support the group’s sustained commitment and expansion goals in India.

Mohsen Sohi, CEO, Freudenberg Group, said, “Numerous records were set during fiscal year 2023. We achieved the highest figures ever for sales and operating profit. When we look back over the past 10 years, it becomes clear how impressive these figures are. Within a single decade, we have roughly doubled our sales and operating profit with an average annual growth rate of 6 and 7.7 percent, respectively. Our investments in research and development have grown by 9.4 percent annually, even more strongly and almost tripling. I would like to thank all our employees worldwide. Their commitment enabled us to achieve these historic results”.

“As Freudenberg commemorates 175 years of operations globally this year, it is indeed a proud moment for Freudenberg India to be part of the continued growth journey. Freudenberg Group has been committed to its growing operations in the country, across diverse domains and across the group companies. We are continuing to invest in the expansion of our facilities and 2024 promises to be another year of key milestones we will achieve in India” remarked Sivasailam.

The Freudenberg Group is leading the energy transition with its products and aims to be CO2-neutral by 2045. Freudenberg makes sustainability a top priority. This mostly concerns the company’s efficient utilization of energy and material resources. Freudenberg aims to reduce CO2 emissions to zero by 2045, mostly through energy conservation, electrification, purchase, and self-generation of green electricity. Freudenberg’s new effort aims to cut carbon emissions while taking into account India’s growing urbanization.

Freudenberg Group is committed to leading the energy transition and intends to be carbon-neutral by 2045. Sustainability is a primary goal, with an emphasis on effective use of energy and material resources. The corporation intends to reduce CO2 emissions to zero by 2045, primarily through energy conservation, electrification, and green electricity generation.

Freudenberg has been sourcing green electricity from photovoltaic and wind power systems for many years, including at its own plants. Around 20 new photovoltaic systems have been deployed worldwide, with another 60 in the planning and execution stages.